Advisors Capital Management LLC Buys 5,152 Shares of nCino, Inc. (NASDAQ:NCNO)

Advisors Capital Management LLC lifted its position in nCino, Inc. (NASDAQ:NCNO) by 8.5% during the 4th quarter, Holdings Channel reports. The firm owned 65,791 shares of the company’s stock after buying an additional 5,152 shares during the quarter. Advisors Capital Management LLC’s holdings in nCino were worth $2,209,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in NCNO. Fifth Third Bancorp acquired a new stake in shares of nCino during the fourth quarter worth approximately $34,000. Hilltop National Bank bought a new stake in nCino during the 4th quarter worth approximately $37,000. Asset Management One Co. Ltd. increased its holdings in nCino by 16.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company’s stock valued at $78,000 after purchasing an additional 323 shares in the last quarter. PNC Financial Services Group Inc. raised its position in nCino by 32.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,536 shares of the company’s stock valued at $152,000 after purchasing an additional 1,122 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in nCino in the third quarter worth $189,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

Insider Activity at nCino

In related news, CEO Sean Desmond sold 5,034 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total value of $164,108.40. Following the completion of the transaction, the chief executive officer now directly owns 306,477 shares of the company’s stock, valued at approximately $9,991,150.20. This represents a 1.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider April Rieger sold 4,325 shares of nCino stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total value of $140,995.00. Following the completion of the sale, the insider now directly owns 145,953 shares in the company, valued at $4,758,067.80. This represents a 2.88 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 110,012 shares of company stock worth $2,694,676. 28.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on NCNO. Keefe, Bruyette & Woods cut their price target on nCino from $40.00 to $28.00 and set an “outperform” rating for the company in a report on Thursday, April 3rd. Piper Sandler decreased their price target on shares of nCino from $38.00 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. The Goldman Sachs Group cut shares of nCino from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $42.00 to $24.00 in a research report on Wednesday, April 2nd. Raymond James decreased their price objective on nCino from $42.00 to $32.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 2nd. Finally, Stephens restated an “equal weight” rating and set a $38.00 target price on shares of nCino in a research report on Wednesday, April 2nd. Ten equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $30.60.

nCino Trading Down 0.8 %

NCNO opened at $23.66 on Tuesday. The firm’s fifty day moving average is $28.89 and its two-hundred day moving average is $33.59. The firm has a market cap of $2.76 billion, a PE ratio of -139.17, a price-to-earnings-growth ratio of 5.77 and a beta of 0.69. nCino, Inc. has a twelve month low of $18.75 and a twelve month high of $43.20. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95.

nCino (NASDAQ:NCNO) last posted its earnings results on Tuesday, April 1st. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.06). nCino had a positive return on equity of 1.62% and a negative net margin of 3.46%. The business had revenue of $141.37 million for the quarter, compared to the consensus estimate of $140.81 million. During the same quarter in the prior year, the firm posted $0.21 earnings per share. The business’s revenue was up 14.3% on a year-over-year basis. Equities research analysts anticipate that nCino, Inc. will post 0.12 EPS for the current year.

nCino announced that its Board of Directors has approved a share buyback program on Tuesday, April 1st that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

nCino Company Profile

nCino, Inc, a software-as-a-service company, provides cloud-based software applications to financial institutions in the United States and internationally. Its nCino Bank Operating System connects financial institution employees, clients and third parties on a single cloud-based platform which include client onboarding, deposit account opening, loan origination, end-to-end mortgage suite, and powerful ecosystem.