Appian (NASDAQ:APPN) Given “Sector Weight” Rating at KeyCorp

Appian (NASDAQ:APPN)‘s stock had its “sector weight” rating restated by investment analysts at KeyCorp in a note issued to investors on Tuesday,Benzinga reports.

Other research analysts have also recently issued reports about the company. Scotiabank began coverage on Appian in a report on Monday, January 6th. They issued a “sector perform” rating and a $37.00 price target for the company. Barclays boosted their price objective on Appian from $34.00 to $37.00 and gave the stock an “underweight” rating in a report on Friday, December 6th. Finally, DA Davidson reissued a “neutral” rating and set a $33.00 price objective on shares of Appian in a report on Monday, October 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $40.17.

Appian Stock Down 1.6 %

Appian stock opened at $33.14 on Tuesday. The stock has a 50-day simple moving average of $36.88 and a 200 day simple moving average of $34.03. Appian has a 12-month low of $26.28 and a 12-month high of $43.33. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of -27.16 and a beta of 1.61.

Insider Activity at Appian

In related news, Director William D. Mccarthy sold 700 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $38.78, for a total value of $27,146.00. Following the completion of the transaction, the director now directly owns 7,966 shares in the company, valued at approximately $308,921.48. The trade was a 8.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 44.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Appian

Several institutional investors and hedge funds have recently modified their holdings of APPN. Rhumbline Advisers grew its position in shares of Appian by 2.4% in the 2nd quarter. Rhumbline Advisers now owns 59,779 shares of the company’s stock valued at $1,845,000 after purchasing an additional 1,386 shares during the period. Edgestream Partners L.P. acquired a new position in shares of Appian in the 2nd quarter valued at approximately $4,657,000. DHK Financial Advisors Inc. acquired a new position in shares of Appian in the 2nd quarter valued at approximately $366,000. XTX Topco Ltd grew its position in shares of Appian by 170.0% in the 2nd quarter. XTX Topco Ltd now owns 14,703 shares of the company’s stock valued at $454,000 after purchasing an additional 9,257 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Appian in the 2nd quarter valued at approximately $96,000. 52.70% of the stock is currently owned by institutional investors and hedge funds.

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.