Commerce Bank Invests $575,000 in nCino, Inc. (NASDAQ:NCNO)

Commerce Bank acquired a new stake in nCino, Inc. (NASDAQ:NCNO) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 18,202 shares of the company’s stock, valued at approximately $575,000.

Several other hedge funds have also added to or reduced their stakes in the business. Crewe Advisors LLC bought a new stake in shares of nCino in the second quarter worth about $26,000. Asset Management One Co. Ltd. grew its position in shares of nCino by 21.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company’s stock valued at $62,000 after purchasing an additional 341 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in nCino by 97.2% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,755 shares of the company’s stock worth $87,000 after purchasing an additional 1,358 shares in the last quarter. Amalgamated Bank raised its holdings in nCino by 28.1% during the 2nd quarter. Amalgamated Bank now owns 5,174 shares of the company’s stock worth $163,000 after buying an additional 1,134 shares during the period. Finally, Lazard Asset Management LLC raised its holdings in nCino by 145.6% during the 1st quarter. Lazard Asset Management LLC now owns 4,516 shares of the company’s stock worth $168,000 after buying an additional 2,677 shares during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

Insider Activity at nCino

In related news, insider Sean Desmond sold 30,000 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $34.77, for a total transaction of $1,043,100.00. Following the completion of the sale, the insider now directly owns 341,511 shares in the company, valued at $11,874,337.47. This represents a 8.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director William J. Ruh sold 10,000 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $37.50, for a total transaction of $375,000.00. Following the completion of the transaction, the director now directly owns 226,201 shares of the company’s stock, valued at approximately $8,482,537.50. The trade was a 4.23 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,235,029 shares of company stock worth $117,599,204. Company insiders own 28.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NCNO. Barclays increased their price objective on shares of nCino from $34.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Monday. Stephens reiterated an “equal weight” rating and set a $35.00 target price on shares of nCino in a report on Wednesday, August 28th. JMP Securities restated a “market outperform” rating and issued a $43.00 price target on shares of nCino in a report on Wednesday, August 28th. Piper Sandler reiterated an “overweight” rating and set a $38.00 price objective on shares of nCino in a report on Wednesday, August 28th. Finally, Macquarie restated an “outperform” rating and issued a $40.00 target price on shares of nCino in a research note on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $39.25.

nCino Trading Up 1.9 %

NASDAQ NCNO opened at $42.20 on Tuesday. nCino, Inc. has a 12 month low of $27.47 and a 12 month high of $43.20. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.09. The stock has a 50 day moving average of $35.95 and a 200-day moving average of $33.07. The company has a market cap of $4.88 billion, a PE ratio of -156.29, a PEG ratio of 34.35 and a beta of 0.55.

nCino (NASDAQ:NCNO) last announced its quarterly earnings data on Tuesday, August 27th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The company had revenue of $132.40 million during the quarter, compared to the consensus estimate of $131.06 million. nCino had a negative net margin of 5.78% and a positive return on equity of 1.06%. The company’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.02) EPS. On average, equities research analysts anticipate that nCino, Inc. will post 0.05 EPS for the current fiscal year.

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.