Motley Fool Asset Management LLC Takes Position in nCino Inc. $NCNO

Motley Fool Asset Management LLC acquired a new position in shares of nCino Inc. (NASDAQ:NCNO) during the fourth quarter, HoldingsChannel reports. The fund acquired 37,595 shares of the company’s stock, valued at approximately $964,000.

A number of other institutional investors have also recently added to or reduced their stakes in NCNO. Vanguard Group Inc. raised its position in nCino by 1.7% during the third quarter. Vanguard Group Inc. now owns 11,924,703 shares of the company’s stock worth $323,279,000 after acquiring an additional 201,499 shares during the last quarter. Conestoga Capital Advisors LLC raised its position in nCino by 25.7% during the fourth quarter. Conestoga Capital Advisors LLC now owns 2,861,024 shares of the company’s stock worth $73,357,000 after acquiring an additional 585,786 shares during the last quarter. Bank of America Corp DE raised its position in nCino by 475.1% during the third quarter. Bank of America Corp DE now owns 2,513,686 shares of the company’s stock worth $68,146,000 after acquiring an additional 2,076,579 shares during the last quarter. Spyglass Capital Management LLC raised its position in nCino by 36.0% during the third quarter. Spyglass Capital Management LLC now owns 2,149,090 shares of the company’s stock worth $58,262,000 after acquiring an additional 569,166 shares during the last quarter. Finally, Bamco Inc. NY raised its position in nCino by 12.0% during the second quarter. Bamco Inc. NY now owns 2,052,953 shares of the company’s stock worth $57,421,000 after acquiring an additional 220,028 shares during the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on NCNO shares. Morgan Stanley cut their price objective on shares of nCino from $36.00 to $21.00 and set an “overweight” rating for the company in a research report on Monday, March 30th. Wall Street Zen raised shares of nCino from a “hold” rating to a “buy” rating in a research report on Saturday, April 4th. Citizens Jmp cut their price objective on shares of nCino from $32.00 to $23.00 and set a “market outperform” rating for the company in a research report on Monday, May 18th. Piper Sandler raised shares of nCino from a “neutral” rating to an “overweight” rating and cut their price objective for the company from $30.00 to $22.00 in a research report on Wednesday, April 1st. Finally, Barclays boosted their price objective on shares of nCino from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday, April 1st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $25.21.

nCino Stock Performance

Shares of NCNO stock opened at $15.41 on Thursday. nCino Inc. has a one year low of $13.80 and a one year high of $33.92. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.89 and a current ratio of 0.89. The company has a 50 day moving average price of $16.67 and a 200 day moving average price of $19.44. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of 128.42 and a beta of 0.69.

nCino (NASDAQ:NCNO) last issued its quarterly earnings results on Tuesday, March 31st. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.21 by $0.16. nCino had a net margin of 2.17% and a return on equity of 6.85%. The firm had revenue of $149.67 million during the quarter, compared to analyst estimates of $147.41 million. During the same quarter in the prior year, the business posted $0.12 earnings per share. nCino’s revenue for the quarter was up 5.9% compared to the same quarter last year. Sell-side analysts anticipate that nCino Inc. will post 0.68 EPS for the current year.

Insider Activity at nCino

In related news, CEO Sean Desmond sold 22,073 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $18.02, for a total transaction of $397,755.46. Following the completion of the transaction, the chief executive officer owned 1,271,016 shares of the company’s stock, valued at approximately $22,903,708.32. This represents a 1.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Pierre Naude sold 35,650 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $18.02, for a total transaction of $642,413.00. Following the sale, the director owned 1,108,473 shares of the company’s stock, valued at approximately $19,974,683.46. This represents a 3.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 172,982 shares of company stock worth $3,032,059. 1.90% of the stock is currently owned by company insiders.

nCino Profile

nCino, Inc provides a cloud-based banking operating system designed to modernize and streamline processes for financial institutions. Built on a software-as-a-service (SaaS) model, the nCino Bank Operating System integrates key banking functions into a unified platform, enabling banks and credit unions to enhance efficiency, reduce risk and improve customer experiences.

Founded in 2012 as a spinoff from Live Oak Bank, nCino launched its flagship offering to address the needs of commercial and retail lenders seeking to replace legacy systems.