Olympiad Research LP Invests $260,000 in Appian Corporation $APPN

Olympiad Research LP bought a new position in Appian Corporation (NASDAQ:APPN) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 8,721 shares of the company’s stock, valued at approximately $260,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas acquired a new stake in Appian during the first quarter worth about $373,000. CWM LLC grew its holdings in shares of Appian by 685.9% during the 1st quarter. CWM LLC now owns 7,788 shares of the company’s stock worth $224,000 after purchasing an additional 6,797 shares during the period. Concord Wealth Partners increased its position in Appian by 21.7% during the 1st quarter. Concord Wealth Partners now owns 2,581 shares of the company’s stock worth $74,000 after purchasing an additional 461 shares in the last quarter. Allianz Asset Management GmbH raised its holdings in Appian by 38.7% in the first quarter. Allianz Asset Management GmbH now owns 8,600 shares of the company’s stock valued at $248,000 after buying an additional 2,400 shares during the period. Finally, Cornerstone Advisory LLC raised its holdings in Appian by 4.4% in the first quarter. Cornerstone Advisory LLC now owns 31,162 shares of the company’s stock valued at $956,000 after buying an additional 1,322 shares during the period. Hedge funds and other institutional investors own 52.70% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on APPN. Barclays increased their price objective on shares of Appian from $33.00 to $37.00 and gave the stock an “underweight” rating in a research report on Friday, November 7th. Morgan Stanley increased their price target on Appian from $29.00 to $45.00 and gave the company an “equal weight” rating in a report on Tuesday. DA Davidson began coverage on Appian in a research note on Friday, November 7th. They set a “hold” rating and a $38.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Appian in a research note on Tuesday. Finally, Zacks Research downgraded shares of Appian from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 6th. One equities research analyst has rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Appian has a consensus rating of “Reduce” and a consensus target price of $39.00.

Appian Price Performance

APPN opened at $43.05 on Friday. Appian Corporation has a 12-month low of $24.00 and a 12-month high of $46.06. The stock has a market capitalization of $3.19 billion, a PE ratio of -430.46 and a beta of 1.77. The firm’s fifty day moving average price is $31.92 and its 200 day moving average price is $30.79.

Appian (NASDAQ:APPN) last released its earnings results on Thursday, November 6th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.27. The company had revenue of $187.00 million during the quarter, compared to the consensus estimate of $174.11 million. Appian’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.15 EPS. Appian has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, equities research analysts forecast that Appian Corporation will post -0.28 earnings per share for the current fiscal year.

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.