Kennedy Capital Management LLC Acquires 43,582 Shares of nCino, Inc. (NASDAQ:NCNO)

Kennedy Capital Management LLC increased its holdings in shares of nCino, Inc. (NASDAQ:NCNO) by 14.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 348,533 shares of the company’s stock after purchasing an additional 43,582 shares during the period. Kennedy Capital Management LLC’s holdings in nCino were worth $11,704,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Fifth Third Bancorp bought a new stake in shares of nCino in the 4th quarter valued at $34,000. Hilltop National Bank bought a new position in shares of nCino during the 4th quarter worth about $37,000. Asset Management One Co. Ltd. grew its stake in shares of nCino by 16.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company’s stock valued at $78,000 after buying an additional 323 shares during the period. PNC Financial Services Group Inc. increased 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 buying an additional 1,122 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in nCino during the 3rd quarter worth approximately $189,000. 94.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on NCNO shares. UBS Group set a $40.00 price objective on nCino in a report on Friday, March 28th. Bank of America upped their price objective on shares of nCino from $22.00 to $26.00 and gave the stock a “neutral” rating in a report on Thursday. Raymond James reduced their price objective on shares of nCino from $42.00 to $32.00 and set an “outperform” rating for the company in a report on Wednesday, April 2nd. The Goldman Sachs Group lowered shares of nCino from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $42.00 to $24.00 in a report on Wednesday, April 2nd. Finally, 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 research note on Thursday, April 3rd. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $30.60.

nCino Price Performance

nCino stock opened at $23.40 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20. The business’s 50 day simple moving average is $29.25 and its 200 day simple moving average is $33.67. nCino, Inc. has a 12 month low of $18.75 and a 12 month high of $43.20. The company has a market cap of $2.72 billion, a price-to-earnings ratio of -137.64, a PEG ratio of 5.77 and a beta of 0.69.

nCino (NASDAQ:NCNO) last posted its quarterly 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 firm had revenue of $141.37 million for the quarter, compared to the consensus estimate of $140.81 million. During the same quarter in the previous year, the company posted $0.21 EPS. The firm’s revenue was up 14.3% compared to the same quarter last year. Sell-side analysts forecast that nCino, Inc. will post 0.12 EPS for the current year.

nCino declared that its Board of Directors has approved a stock repurchase plan on Tuesday, April 1st that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other nCino news, CEO Sean Desmond sold 5,034 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total transaction of $164,108.40. Following the sale, the chief executive officer now owns 306,477 shares of the company’s stock, valued at $9,991,150.20. The trade was a 1.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider April Rieger sold 4,325 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total value of $140,995.00. Following the completion of the transaction, the insider now directly owns 145,953 shares of the company’s stock, valued at $4,758,067.80. The trade was a 2.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 110,012 shares of company stock valued at $2,694,676 over the last quarter. Company insiders own 28.40% of the company’s stock.

About nCino

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.