Advisory Research Inc. Takes Position in nCino, Inc. (NASDAQ:NCNO)

Advisory Research Inc. bought a new position in shares of nCino, Inc. (NASDAQ:NCNO) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 69,477 shares of the company’s stock, valued at approximately $2,333,000. Advisory Research Inc. owned about 0.06% of nCino as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of nCino by 9.6% in the fourth quarter. Vanguard Group Inc. now owns 10,830,773 shares of the company’s stock worth $363,697,000 after buying an additional 948,282 shares during the last quarter. Wasatch Advisors LP grew its position in shares of nCino by 171.9% in the 4th quarter. Wasatch Advisors LP now owns 6,177,783 shares of the company’s stock worth $207,450,000 after acquiring an additional 3,905,802 shares in the last quarter. Invesco Ltd. raised its holdings in shares of nCino by 3,006.0% during the fourth quarter. Invesco Ltd. now owns 2,602,497 shares of the company’s stock worth $87,392,000 after purchasing an additional 2,518,707 shares during the period. Massachusetts Financial Services Co. MA bought a new position in shares of nCino in the 4th quarter worth about $81,254,000. Finally, Conestoga Capital Advisors LLC acquired a new position in shares of nCino in the 4th quarter valued at about $70,256,000. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

nCino Stock Down 0.4 %

NCNO opened at $23.92 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95. The company has a market capitalization of $2.79 billion, a PE ratio of -140.70, a P/E/G ratio of 5.77 and a beta of 0.69. The stock’s fifty day moving average is $28.56 and its 200-day moving average is $33.46. nCino, Inc. has a one year low of $18.75 and a one year high of $43.20.

nCino (NASDAQ:NCNO) last issued its quarterly earnings results on Tuesday, April 1st. The company reported $0.12 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 business had revenue of $141.37 million during the quarter, compared to the consensus estimate of $140.81 million. During the same quarter last year, the firm posted $0.21 earnings per share. nCino’s revenue was up 14.3% compared to the same quarter last year. On average, equities analysts predict that nCino, Inc. will post 0.12 EPS for the current fiscal year.

nCino declared that its board has authorized a stock repurchase program on Tuesday, April 1st that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 3.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Insider Activity at nCino

In other news, CEO Sean Desmond sold 2,301 shares of the company’s stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $22.31, for a total transaction of $51,335.31. Following the completion of the sale, the chief executive officer now directly owns 296,296 shares of the company’s stock, valued at $6,610,363.76. This represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider April Rieger sold 7,881 shares of nCino stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total value of $164,397.66. Following the completion of the transaction, the insider now directly owns 138,072 shares in the company, valued at $2,880,181.92. This represents a 5.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 110,012 shares of company stock valued at $2,694,676 over the last ninety days. Insiders own 28.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NCNO. Raymond James cut their target price on shares of nCino from $42.00 to $32.00 and set an “outperform” rating on the stock in a report on Wednesday, April 2nd. UBS Group set a $40.00 price target on nCino in a report on Friday, March 28th. Needham & Company LLC dropped their target price on nCino from $45.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. William Blair downgraded shares of nCino from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 2nd. Finally, KeyCorp reiterated a “sector weight” rating on shares of nCino in a research report on Monday, February 3rd. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $30.60.

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.