New York State Common Retirement Fund Has $23.62 Million Holdings in nCino, Inc. (NASDAQ:NCNO)

New York State Common Retirement Fund cut its stake in shares of nCino, Inc. (NASDAQ:NCNO) by 5.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 702,328 shares of the company’s stock after selling 39,503 shares during the period. New York State Common Retirement Fund owned about 0.62% of nCino worth $23,619,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. California Public Employees Retirement System increased its holdings in shares of nCino by 2.7% during the fourth quarter. California Public Employees Retirement System now owns 98,181 shares of the company’s stock worth $3,302,000 after buying an additional 2,601 shares in the last quarter. Cornercap Investment Counsel Inc. acquired a new position in shares of nCino during the fourth quarter worth $521,000. Strs Ohio acquired a new position in shares of nCino during the fourth quarter worth $990,000. Trust Co of the South acquired a new position in shares of nCino during the fourth quarter worth $4,430,000. Finally, Portside Wealth Group LLC increased its holdings in nCino by 6.7% in the fourth quarter. Portside Wealth Group LLC now owns 30,490 shares of the company’s stock valued at $1,025,000 after purchasing an additional 1,926 shares during the period. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at nCino

In other news, VP Jeanette Sellers sold 894 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $31.18, for a total transaction of $27,874.92. Following the transaction, the vice president now owns 20,770 shares of the company’s stock, valued at approximately $647,608.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Jeanette Sellers sold 894 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $31.18, for a total transaction of $27,874.92. Following the transaction, the vice president now owns 20,770 shares of the company’s stock, valued at approximately $647,608.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William J. Ruh sold 5,000 shares of the stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $34.51, for a total transaction of $172,550.00. Following the transaction, the director now directly owns 251,201 shares in the company, valued at approximately $8,668,946.51. The disclosure for this sale can be found here. Insiders have sold 1,105,300 shares of company stock valued at $38,835,333 in the last 90 days. 38.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NCNO. Needham & Company LLC increased their price objective on nCino from $40.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. Keefe, Bruyette & Woods began coverage on nCino in a report on Tuesday, April 9th. They issued an “outperform” rating and a $41.00 price objective for the company. Robert W. Baird increased their price objective on nCino from $34.00 to $36.00 and gave the company a “neutral” rating in a report on Wednesday, March 27th. Piper Sandler restated an “overweight” rating and issued a $42.00 price objective on shares of nCino in a report on Wednesday, March 27th. Finally, Morgan Stanley increased their price objective on nCino from $27.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, March 27th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $35.91.

nCino Stock Down 0.9 %

Shares of nCino stock opened at $29.51 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.05. The business has a 50-day moving average price of $31.14 and a two-hundred day moving average price of $30.94. nCino, Inc. has a 1-year low of $21.26 and a 1-year high of $37.48.

nCino (NASDAQ:NCNO) last released its quarterly earnings data on Tuesday, March 26th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.08. The company had revenue of $123.69 million for the quarter, compared to analysts’ expectations of $124.58 million. nCino had a negative net margin of 8.89% and a positive return on equity of 0.31%. As a group, sell-side analysts expect that nCino, Inc. will post 0.05 earnings per share for the current year.

nCino 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.