Appian Co. (NASDAQ:APPN) Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. grew its holdings in Appian Co. (NASDAQ:APPN) by 88.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 70,639 shares of the company’s stock after acquiring an additional 33,232 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.10% of Appian worth $2,412,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in APPN. State Board of Administration of Florida Retirement System raised its position in Appian by 21.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 14,275 shares of the company’s stock valued at $634,000 after purchasing an additional 2,560 shares during the period. Vanguard Group Inc. boosted its holdings in Appian by 8.4% in the 1st quarter. Vanguard Group Inc. now owns 5,081,560 shares of the company’s stock worth $203,008,000 after acquiring an additional 392,190 shares during the period. Price T Rowe Associates Inc. MD grew its position in Appian by 5.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 30,097 shares of the company’s stock valued at $1,203,000 after acquiring an additional 1,494 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Appian during the second quarter valued at approximately $65,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Appian by 10.0% during the second quarter. Bank of New York Mellon Corp now owns 143,983 shares of the company’s stock worth $4,443,000 after purchasing an additional 13,046 shares in the last quarter. Institutional investors and hedge funds own 52.70% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on APPN shares. Barclays lifted their price target on shares of Appian from $29.00 to $34.00 and gave the stock an “underweight” rating in a research note on Friday, November 8th. William Blair downgraded Appian from an “outperform” rating to a “market perform” rating in a report on Thursday, August 1st. The Goldman Sachs Group dropped their price objective on Appian from $47.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. KeyCorp lowered shares of Appian from an “overweight” rating to a “sector weight” rating in a research note on Friday, August 2nd. Finally, DA Davidson reiterated a “neutral” rating and set a $33.00 price objective on shares of Appian in a research note on Monday, October 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, Appian currently has a consensus rating of “Hold” and a consensus price target of $40.20.

Insiders Place Their Bets

In related news, major shareholder Abdiel Capital Advisors, Lp bought 20,014 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was bought at an average cost of $31.21 per share, for a total transaction of $624,636.94. Following the completion of the purchase, the insider now directly owns 9,988,095 shares in the company, valued at approximately $311,728,444.95. The trade was a 0.20 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders acquired a total of 144,233 shares of company stock valued at $4,593,950 over the last 90 days. 44.00% of the stock is owned by company insiders.

Appian Trading Up 0.0 %

Shares of NASDAQ APPN opened at $38.56 on Monday. The company has a market capitalization of $3.29 billion, a price-to-earnings ratio of -31.61 and a beta of 1.57. Appian Co. has a twelve month low of $26.28 and a twelve month high of $43.33. The business has a 50 day simple moving average of $34.69 and a 200-day simple moving average of $32.42.

Appian 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.