Y Intercept Hong Kong Ltd Sells 107,370 Shares of Appian Corporation $APPN

Y Intercept Hong Kong Ltd decreased its position in Appian Corporation (NASDAQ:APPN) by 80.3% in the third quarter, Holdings Channel reports. The firm owned 26,304 shares of the company’s stock after selling 107,370 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Appian were worth $804,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Bank of America Corp DE raised its position in Appian by 182.7% during the 2nd quarter. Bank of America Corp DE now owns 237,421 shares of the company’s stock valued at $7,089,000 after purchasing an additional 524,420 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Appian by 211.8% during the second quarter. Arrowstreet Capital Limited Partnership now owns 690,788 shares of the company’s stock valued at $20,627,000 after buying an additional 469,259 shares during the period. Caption Management LLC raised its holdings in shares of Appian by 127.3% in the second quarter. Caption Management LLC now owns 80,472 shares of the company’s stock valued at $2,403,000 after acquiring an additional 375,758 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of Appian by 150.8% in the second quarter. Marshall Wace LLP now owns 609,354 shares of the company’s stock valued at $18,195,000 after acquiring an additional 366,349 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its stake in Appian by 378.0% in the second quarter. Acadian Asset Management LLC now owns 382,103 shares of the company’s stock worth $11,397,000 after acquiring an additional 302,170 shares during the period. 52.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on APPN shares. Morgan Stanley raised shares of Appian from an “equal weight” rating to an “overweight” rating and set a $45.00 target price on the stock in a research report on Monday, January 12th. Citigroup reissued a “buy” rating on shares of Appian in a report on Tuesday, January 27th. Wall Street Zen downgraded shares of Appian from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 23rd. DA Davidson began coverage on Appian in a research report on Friday, November 7th. They set a “hold” rating and a $38.00 target price on the stock. Finally, Barclays reduced their price target on Appian from $37.00 to $34.00 and set an “underweight” rating for the company in a research report on Monday, January 12th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $38.40.

Appian Trading Down 3.9%

NASDAQ APPN opened at $26.82 on Tuesday. The firm’s fifty day simple moving average is $35.08 and its two-hundred day simple moving average is $32.85. The firm has a market capitalization of $1.98 billion, a P/E ratio of -268.17 and a beta of 0.90. Appian Corporation has a 12-month low of $24.00 and a 12-month high of $46.06.

Appian (NASDAQ:APPN) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.05 by $0.27. The business had revenue of $187.00 million for the quarter, compared to analysts’ expectations of $174.11 million. During the same quarter in the prior year, the company posted $0.15 EPS. The business’s revenue for the quarter was up 21.4% on a year-over-year basis. As a group, sell-side analysts predict that Appian Corporation will post -0.28 earnings per share for the current fiscal year.

Appian Company Profile

Appian Corporation is a global technology company specializing in low-code automation platforms designed to streamline business processes. Founded in 1999 by Matt Calkins, the company provides an integrated suite of tools that enables organizations to build enterprise applications and workflows rapidly with minimal hand coding. The platform combines process management, robotic process automation (RPA), artificial intelligence (AI) capabilities and data integration into a single environment, allowing businesses to accelerate digital transformation initiatives.

The core offering, the Appian Low-Code Platform, empowers users—ranging from professional developers to business analysts—to visually model, design and deploy applications that can automate complex operations, orchestrate tasks across systems, and deliver real-time analytics.