10 Technology Stocks with Insider Buying in 2024

8. Appian Corporation (NASDAQ:APPN)

Number of Hedge Fund Holders: 26

Appian Corporation (NASDAQ:APPN) is a leading provider of low-code automation software that helps enterprises streamline business processes, enhance workflow efficiency, and accelerate digital transformation. Its platform integrates AI, robotic process automation, and data management to enable organizations to build scalable applications with minimal coding. Serving industries such as finance, healthcare, and government, APPN empowers businesses to optimize operations and improve customer experiences.

Despite a rangebound share price in the last twelve months, Appian Corporation (NASDAQ:APPN) delivered strong financial results in the latest 4Q 2024 with Cloud subscription revenue growing 19% and total revenue increasing 15%. The company achieved its best non-GAAP gross margin of 80% since IPO and reported positive adjusted EBITDA. APPN maintained strong customer relationships with a cloud subscription revenue retention rate of 116% and demonstrated success in its tiered pricing strategy, with almost half of new customers buying above the base tier. Appian Corporation (NASDAQ:APPN)’s strategic focus on AI implementation within processes and its position as a process automation leader is evidenced by its significant scale, processing 10-20 billion transactions per day on AWS Cloud alone. It appears that the strong double-digit growth trajectory of the company coupled with tremendous progress on the AI front is recognized by insiders as at least two of them bought more than $100,000 worth of APPN stock in 2024, which makes it one of the tech stocks with insider buying.