California Public Employees Retirement System Takes Position in Appian Corp (APPN)
California Public Employees Retirement System acquired a new position in shares of Appian Corp (NASDAQ:APPN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 5,726 shares of the company’s stock, valued at approximately $207,000.
Other hedge funds have also recently modified their holdings of the company. UBS Group AG grew its holdings in shares of Appian by 240.8% during the first quarter. UBS Group AG now owns 6,717 shares of the company’s stock worth $169,000 after purchasing an additional 4,746 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Appian during the second quarter worth about $264,000. Tocqueville Asset Management L.P. purchased a new position in shares of Appian during the second quarter worth about $273,000. Bank of Montreal Can grew its holdings in shares of Appian by 2,038.9% during the second quarter. Bank of Montreal Can now owns 7,700 shares of the company’s stock worth $278,000 after purchasing an additional 7,340 shares during the last quarter. Finally, Bradley Foster & Sargent Inc. CT purchased a new position in shares of Appian during the second quarter worth about $283,000. 22.20% of the stock is currently owned by institutional investors.
Shares of NASDAQ APPN traded down $1.06 during midday trading on Friday, reaching $28.46. 380,904 shares of the company were exchanged, compared to its average volume of 374,435. Appian Corp has a 1 year low of $19.62 and a 1 year high of $43.61. The firm has a market cap of $1.88 billion, a P/E ratio of -46.66 and a beta of 1.89.
Several equities analysts have issued reports on the company. BidaskClub raised Appian from a “hold” rating to a “buy” rating in a report on Saturday, December 1st. Zacks Investment Research lowered Appian from a “buy” rating to a “hold” rating in a report on Wednesday, October 3rd. Finally, Barclays raised Appian from an “underweight” rating to an “equal weight” rating and set a $29.00 price target on the stock in a report on Monday, October 15th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. Appian presently has a consensus rating of “Hold” and an average price target of $27.67.
In related news, VP Edward L. Hughes sold 20,000 shares of the firm’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $29.98, for a total value of $599,600.00. Following the completion of the sale, the vice president now owns 134,364 shares in the company, valued at $4,028,232.72. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Robert Charles Kramer sold 3,500 shares of the firm’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $30.61, for a total transaction of $107,135.00. Following the completion of the sale, the insider now owns 7,500 shares of the company’s stock, valued at approximately $229,575. The disclosure for this sale can be found here. In the last three months, insiders have purchased 1,265,849 shares of company stock worth $33,111,919 and have sold 102,645 shares worth $2,941,914. Company insiders own 64.00% of the company’s stock.
Appian Corporation provides low-code software development platform that enables organizations to develop various applications in the United States and internationally. The company's platform automates the creation of forms, data flows, records, reports, and other software elements that are needed to be manually coded or configured.
See Also: How to Use the New Google Finance Tool
Receive News & Ratings for Appian Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Appian and related companies with MarketBeat.com's FREE daily email newsletter.