King Luther Capital Management Corp Has $4.16 Million Stock Holdings in Appian Co. (NASDAQ:APPN)

King Luther Capital Management Corp lowered its stake in Appian Co. (NASDAQ:APPN) by 12.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 126,049 shares of the company’s stock after selling 17,112 shares during the period. King Luther Capital Management Corp’s holdings in Appian were worth $4,157,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC grew its stake in Appian by 199.4% in the 3rd quarter. FMR LLC now owns 5,935 shares of the company’s stock valued at $203,000 after buying an additional 3,953 shares during the last quarter. Entropy Technologies LP acquired a new position in Appian in the 4th quarter valued at about $208,000. Oppenheimer & Co. Inc. acquired a new position in shares of Appian during the 3rd quarter worth approximately $266,000. Arete Wealth Advisors LLC acquired a new position in shares of Appian during the 3rd quarter worth approximately $291,000. Finally, Handelsbanken Fonder AB grew its position in shares of Appian by 14.7% during the 4th quarter. Handelsbanken Fonder AB now owns 8,600 shares of the company’s stock worth $284,000 after purchasing an additional 1,100 shares in the last quarter. Institutional investors and hedge funds own 52.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on APPN shares. Scotiabank started coverage on shares of Appian in a research report on Monday, January 6th. They set a “sector perform” rating and a $37.00 target price on the stock. Barclays increased their target price on shares of Appian from $34.00 to $37.00 and gave the stock an “underweight” rating in a research report on Friday, December 6th. Finally, KeyCorp restated a “sector weight” rating on shares of Appian in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Appian presently has an average rating of “Hold” and a consensus target price of $40.17.

Appian Trading Up 1.1 %

Shares of Appian stock opened at $30.46 on Thursday. The company has a 50 day moving average of $33.40 and a 200-day moving average of $34.31. Appian Co. has a 1-year low of $26.28 and a 1-year high of $43.33. The company has a market cap of $2.26 billion, a PE ratio of -24.17 and a beta of 1.65.

Appian (NASDAQ:APPN) last issued its quarterly earnings results on Wednesday, February 19th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). Appian had a negative return on equity of 532.05% and a negative net margin of 14.95%. The firm had revenue of $166.70 million for the quarter, compared to the consensus estimate of $164.31 million. During the same period last year, the company posted $0.06 EPS. The business’s revenue was up 14.7% on a year-over-year basis. Research analysts forecast that Appian Co. will post -0.28 earnings per share for the current year.

Insider Activity at Appian

In related news, Director Albert G.W. Biddle III sold 990 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $33.21, for a total value of $32,877.90. Following the completion of the transaction, the director now owns 29,348 shares of the company’s stock, valued at $974,647.08. This represents a 3.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 44.00% of the stock is owned by insiders.

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.