Connor Clark & Lunn Investment Management Ltd. Raises Stake in Appian Corporation $APPN

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Appian Corporation (NASDAQ:APPN) by 47.0% during the second quarter, Holdings Channel.com reports. The firm owned 374,764 shares of the company’s stock after acquiring an additional 119,852 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Appian were worth $11,190,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in APPN. Concord Wealth Partners increased its stake in Appian by 21.7% during the 1st quarter. Concord Wealth Partners now owns 2,581 shares of the company’s stock valued at $74,000 after purchasing an additional 461 shares in the last quarter. Headlands Technologies LLC lifted its stake in shares of Appian by 2,052.0% in the first quarter. Headlands Technologies LLC now owns 4,218 shares of the company’s stock worth $122,000 after buying an additional 4,022 shares in the last quarter. US Bancorp DE grew its holdings in shares of Appian by 215.4% during the first quarter. US Bancorp DE now owns 6,506 shares of the company’s stock valued at $187,000 after buying an additional 4,443 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Appian by 7.4% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,386 shares of the company’s stock valued at $221,000 after acquiring an additional 507 shares in the last quarter. Finally, KLP Kapitalforvaltning AS increased its position in shares of Appian by 40.0% during the second quarter. KLP Kapitalforvaltning AS now owns 7,700 shares of the company’s stock valued at $230,000 after acquiring an additional 2,200 shares in the last quarter. Institutional investors own 52.70% of the company’s stock.

Analyst Ratings Changes

APPN has been the topic of several recent analyst reports. Cowen reiterated a “hold” rating on shares of Appian in a research note on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Appian in a research report on Wednesday, November 5th. Morgan Stanley lifted their price objective on Appian from $29.00 to $45.00 and gave the stock an “equal weight” rating in a report on Tuesday. DA Davidson began coverage on shares of Appian in a research note on Friday, November 7th. They set a “hold” rating and a $38.00 target price on the stock. Finally, Zacks Research downgraded shares of Appian from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 6th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $39.00.

Appian Trading Up 4.5%

Shares of NASDAQ APPN opened at $44.22 on Wednesday. Appian Corporation has a 12-month low of $24.00 and a 12-month high of $44.65. The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of -442.16 and a beta of 1.77. The firm has a 50 day moving average of $31.36 and a 200 day moving average of $30.60.

Appian (NASDAQ:APPN) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.27. The business had revenue of $187.00 million for the quarter, compared to the consensus estimate of $174.11 million. The company’s revenue was up 21.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.15 EPS. Appian has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Sell-side analysts predict that Appian Corporation will post -0.28 EPS for the current year.

About Appian

Appian Corporation, a software company that provides low-code design platform in the United States, Mexico, Portugal, and internationally. The company's platform offers artificial intelligence, process automation, data fabric, and process mining. It provides The Appian Platform, an integrated automation platform that enables organizations to design, automate, and optimize mission-critical business processes.