Teachers Retirement System of The State of Kentucky Makes New Investment in Appian Co. (NASDAQ:APPN)

Teachers Retirement System of The State of Kentucky purchased a new position in Appian Co. (NASDAQ:APPN – Get Rating) in the third quarter, Holdings Channel.com reports. The firm purchased 102,626 shares of the company’s stock, valued at approximately $4,190,000.

Other institutional investors have also bought and sold shares of the company. Heritage Wealth Management LLC purchased a new stake in Appian in the 2nd quarter worth $27,000. Captrust Financial Advisors increased its stake in Appian by 44.1% in the 2nd quarter. Captrust Financial Advisors now owns 1,321 shares of the company’s stock worth $63,000 after buying an additional 404 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in Appian in the 3rd quarter worth $69,000. Penserra Capital Management LLC increased its stake in Appian by 50.0% in the 1st quarter. Penserra Capital Management LLC now owns 1,818 shares of the company’s stock worth $110,000 after buying an additional 606 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of Appian by 13.7% during the first quarter. PNC Financial Services Group Inc. now owns 2,527 shares of the company’s stock valued at $153,000 after purchasing an additional 305 shares in the last quarter. Hedge funds and other institutional investors own 50.89% of the company’s stock.

Appian Trading Down 2.7 %

APPN opened at $41.59 on Friday. Appian Co. has a 12 month low of $29.80 and a 12 month high of $66.91. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.79. The stock has a 50-day moving average of $40.94 and a 200 day moving average of $40.48.

Appian (NASDAQ:APPN – Get Rating) last released its quarterly earnings results on Thursday, February 16th. The company reported ($0.44) EPS for the quarter, topping the consensus estimate of ($0.54) by $0.10. The company had revenue of $125.79 million during the quarter, compared to analyst estimates of $122.35 million. Appian had a negative return on equity of 66.82% and a negative net margin of 32.25%. On average, sell-side analysts expect that Appian Co. will post -1.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Appian news, Director Mark Steven Lynch sold 1,393 shares of the firm’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $43.17, for a total value of $60,135.81. Following the completion of the sale, the director now owns 36,237 shares of the company’s stock, valued at $1,564,351.29. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Appian news, Director Mark Steven Lynch sold 1,393 shares of the firm’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $43.17, for a total value of $60,135.81. Following the completion of the sale, the director now owns 36,237 shares of the company’s stock, valued at $1,564,351.29. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Abdiel Capital Management, Llc acquired 175,000 shares of the firm’s stock in a transaction on Wednesday, January 11th. The stock was purchased at an average cost of $31.98 per share, with a total value of $5,596,500.00. Following the purchase, the insider now owns 8,992,518 shares of the company’s stock, valued at $287,580,725.64. The disclosure for this purchase can be found here. Insiders bought a total of 735,916 shares of company stock valued at $28,256,946 over the last 90 days. Insiders own 43.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Truist Financial raised their price objective on Appian from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, February 17th. Barclays raised their price objective on Appian from $25.00 to $30.00 in a research report on Friday, February 17th. KeyCorp raised their price objective on Appian from $46.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday, February 17th. Morgan Stanley raised their price objective on Appian from $42.00 to $46.00 and gave the company an “equal weight” rating in a research report on Friday, February 17th. Finally, Sumitomo Mitsui Financial Group lowered Appian from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $37.00 to $23.00 in a research report on Monday, January 9th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $45.89.

Appian Company Profile

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Appian Corp. provides business process management (BPM) solutions. Its BPM tools automate and measure business processes. The firm’s products include BPM software, case management, mobile application development, and platform-as-a-service. The company was founded by Matt Calkins, Robert C. Kramer, Marc Wilson, and Michael Beckley in 1999 and is headquartered in McLean, VA.