By otakuyassine3@gmail.com 
Stephens restated their equal weight rating on shares of nCino (NASDAQ:NCNO – Free Report) in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has a $38.00 price objective on the stock.
Other research analysts have also recently issued reports about the stock. Macquarie increased their price objective on shares of nCino from $40.00 to $43.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Needham & Company LLC decreased their price target on nCino from $45.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday. Scotiabank restated a “sector perform” rating and issued a $19.00 price objective (down previously from $35.00) on shares of nCino in a report on Wednesday. KeyCorp reiterated a “sector weight” rating on shares of nCino in a research report on Monday, February 3rd. Finally, Bank of America lowered shares of nCino from a “buy” rating to a “neutral” rating and set a $22.00 price objective for the company. in a research report on Wednesday. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $30.33.
Read Our Latest Analysis on nCino
nCino Trading Down 1.2 %
Shares of NCNO stock opened at $21.45 on Wednesday. nCino has a 1 year low of $18.75 and a 1 year high of $43.20. The firm has a market capitalization of $2.48 billion, a PE ratio of -126.17, a price-to-earnings-growth ratio of 5.77 and a beta of 0.69. The stock has a fifty day moving average of $30.58 and a two-hundred day moving average of $33.97. 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 – Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $141.37 million during the quarter, compared to analyst estimates of $140.81 million. nCino had a positive return on equity of 1.62% and a negative net margin of 3.46%. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.21 EPS. As a group, research analysts expect that nCino will post 0.12 EPS for the current year.
nCino announced that its board has initiated a share buyback plan on Tuesday, April 1st that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
Insider Transactions at nCino
In other news, Director Jeff Horing sold 54,876 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $35.00, for a total value of $1,920,660.00. Following the transaction, the director now owns 4,458,591 shares in the company, valued at $156,050,685. This represents a 1.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider April Rieger sold 4,325 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total transaction of $140,995.00. Following the transaction, the insider now directly owns 145,953 shares in the company, 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 sold a total of 146,864 shares of company stock valued at $4,215,221 over the last quarter. Company insiders own 28.40% of the company’s stock.
Institutional Trading of nCino
Hedge funds and other institutional investors have recently modified their holdings of the company. Fifth Third Bancorp acquired a new position in nCino in the 4th quarter worth about $34,000. Hilltop National Bank acquired a new stake in shares of nCino during the 4th quarter valued at about $37,000. Johnson Financial Group Inc. acquired a new stake in shares of nCino during the 4th quarter valued at about $57,000. Asset Management One Co. Ltd. increased its holdings in nCino by 16.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company’s stock worth $78,000 after buying an additional 323 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in nCino by 32.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,536 shares of the company’s stock worth $152,000 after buying an additional 1,122 shares during the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.
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.
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