Oxford Asset Management LLP Takes $646,000 Position in nCino, Inc. (NASDAQ:NCNO)

Oxford Asset Management LLP acquired a new position in nCino, Inc. (NASDAQ:NCNO) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 19,252 shares of the company’s stock, valued at approximately $646,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Johnson Financial Group Inc. bought a new stake in shares of nCino during the 4th quarter worth $57,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of nCino in the 4th quarter worth about $2,551,000. Lead Edge Capital Management LLC increased its position in shares of nCino by 24.7% during the 4th quarter. Lead Edge Capital Management LLC now owns 831,672 shares of the company’s stock valued at $27,928,000 after purchasing an additional 164,672 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of nCino by 139.8% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,241,017 shares of the company’s stock valued at $108,834,000 after buying an additional 1,889,283 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in nCino by 10.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 93,588 shares of the company’s stock worth $3,144,000 after buying an additional 8,917 shares during the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

nCino Stock Down 0.6 %

Shares of NASDAQ NCNO opened at $23.04 on Friday. The firm has a fifty day simple moving average of $27.10 and a two-hundred day simple moving average of $33.09. nCino, Inc. has a 12 month low of $18.75 and a 12 month high of $43.20. 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 firm has a market capitalization of $2.68 billion, a PE ratio of -135.52, a price-to-earnings-growth ratio of 5.77 and a beta of 0.69.

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

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

Insider Activity at nCino

In other 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 in the company, valued at approximately $9,991,150.20. The trade was a 1.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Gregory Orenstein sold 2,356 shares of the stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $22.31, for a total transaction of $52,562.36. Following the completion of the transaction, the chief financial officer now owns 329,735 shares of the company’s stock, valued at approximately $7,356,387.85. The trade was a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 110,012 shares of company stock worth $2,694,676 over the last ninety days. 28.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on NCNO shares. Bank of America increased their price target on shares of nCino from $22.00 to $26.00 and gave the company a “neutral” rating in a research report on Thursday, April 10th. Barclays lowered their price target on shares of nCino from $44.00 to $24.00 and set an “overweight” rating for the company in a research note on Wednesday, April 2nd. Raymond James reduced their price objective on nCino from $42.00 to $32.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 2nd. Stephens reiterated an “equal weight” rating and issued a $38.00 price objective on shares of nCino in a report on Wednesday, April 2nd. Finally, Scotiabank restated a “sector perform” rating and set a $19.00 target price (down from $35.00) on shares of nCino in a report on Wednesday, April 2nd. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $30.40.

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.