Scotiabank Initiates Coverage on Appian (NASDAQ:APPN)

Stock analysts at Scotiabank started coverage on shares of Appian (NASDAQ:APPN) in a note issued to investors on Monday, Marketbeat.com reports. The firm set a “sector perform” rating and a $37.00 price target on the stock. Scotiabank’s price objective would suggest a potential upside of 5.38% from the stock’s current price.

APPN has been the topic of a number of other research reports. DA Davidson restated a “neutral” rating and issued a $33.00 target price on shares of Appian in a research note on Monday, October 14th. Barclays boosted their target price on shares of Appian from $34.00 to $37.00 and gave the stock an “underweight” rating in a research note on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $40.17.

Appian Stock Performance

Appian stock opened at $35.11 on Monday. Appian has a fifty-two week low of $26.28 and a fifty-two week high of $43.33. The business’s 50-day simple moving average is $37.03 and its two-hundred day simple moving average is $33.84. The company has a market cap of $3.00 billion, a PE ratio of -28.78 and a beta of 1.61.

Insiders Place Their Bets

In other Appian news, Director William D. Mccarthy sold 700 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $38.78, for a total transaction of $27,146.00. Following the completion of the sale, the director now owns 7,966 shares of the company’s stock, valued at $308,921.48. This trade represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 44.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of APPN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Appian by 0.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 80,242 shares of the company’s stock valued at $2,739,000 after acquiring an additional 491 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Appian by 3.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 21,688 shares of the company’s stock worth $740,000 after buying an additional 686 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in Appian during the 3rd quarter worth approximately $29,000. Point72 Asia Singapore Pte. Ltd. lifted its holdings in Appian by 35.8% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,126 shares of the company’s stock worth $127,000 after buying an additional 1,088 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Appian by 2.4% in the second quarter. Rhumbline Advisers now owns 59,779 shares of the company’s stock worth $1,845,000 after acquiring an additional 1,386 shares in the last quarter. Institutional investors and hedge funds own 52.70% of the company’s stock.

Appian Company Profile

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.