Franklin Resources Inc. Has $37.10 Million Stake in nCino, Inc. (NASDAQ:NCNO)

Franklin Resources Inc. grew its holdings in shares of nCino, Inc. (NASDAQ:NCNO) by 1.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,104,863 shares of the company’s stock after purchasing an additional 12,001 shares during the period. Franklin Resources Inc. owned about 0.95% of nCino worth $37,101,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Asset Management One Co. Ltd. boosted its stake in shares of nCino by 16.5% in the fourth 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. Victory Capital Management Inc. raised its holdings in nCino by 2.9% in the 4th quarter. Victory Capital Management Inc. now owns 12,124 shares of the company’s stock valued at $407,000 after acquiring an additional 340 shares in the last quarter. Berry Wealth Group LP lifted its position in shares of nCino by 5.1% during the 4th quarter. Berry Wealth Group LP now owns 8,207 shares of the company’s stock valued at $276,000 after acquiring an additional 400 shares during the period. Handelsbanken Fonder AB grew its holdings in shares of nCino by 2.2% during the 4th quarter. Handelsbanken Fonder AB now owns 23,000 shares of the company’s stock worth $772,000 after purchasing an additional 500 shares in the last quarter. Finally, Precision Wealth Strategies LLC grew its holdings in shares of nCino by 5.3% during the 4th quarter. Precision Wealth Strategies LLC now owns 14,278 shares of the company’s stock worth $479,000 after purchasing an additional 714 shares in the last quarter. 94.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NCNO has been the subject of several recent analyst reports. Stephens reaffirmed an “equal weight” rating and set a $38.00 price objective on shares of nCino in a research report on Wednesday. Piper Sandler cut their price target on shares of nCino from $38.00 to $28.00 and set a “neutral” rating for the company in a report on Wednesday. Keefe, Bruyette & Woods reduced their price target on shares of nCino from $40.00 to $28.00 and set an “outperform” rating on the stock in a research report on Thursday. Needham & Company LLC lowered their price objective on shares of nCino from $45.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, The Goldman Sachs Group cut nCino from a “buy” rating to a “neutral” rating and cut their target price for the stock from $42.00 to $24.00 in a research note on Wednesday. Ten investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $30.33.

nCino Price Performance

Shares of NCNO opened at $21.45 on Friday. The business has a 50-day moving average of $30.58 and a 200-day moving average of $34.00. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of -126.17, a price-to-earnings-growth ratio of 5.77 and a beta of 0.69. nCino, Inc. has a 1 year low of $18.75 and a 1 year high of $43.20.

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 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 business posted $0.21 EPS. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, equities research analysts anticipate 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 repurchase plan on Tuesday, April 1st that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to repurchase up to 3.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other nCino news, Director Jeff Horing sold 54,876 shares of the business’s stock in a transaction that occurred on 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 directly owns 4,458,591 shares of the company’s stock, valued at approximately $156,050,685. The trade was a 1.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider April Rieger sold 4,325 shares of the stock in a transaction on Tuesday, February 4th. The stock was 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 approximately $4,758,067.80. This represents a 2.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 146,864 shares of company stock worth $4,215,221. Company insiders own 28.40% of the company’s stock.

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.