nCino, Inc. (NASDAQ:NCNO) Shares Bought by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC raised its position in nCino, Inc. (NASDAQ:NCNO) by 5.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 566,308 shares of the company’s stock after acquiring an additional 27,524 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in nCino were worth $19,017,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Conestoga Capital Advisors LLC acquired a new position in nCino in the 4th quarter valued at about $70,256,000. Amundi grew its position in nCino by 312.1% in the 4th quarter. Amundi now owns 6,004 shares of the company’s stock valued at $201,000 after acquiring an additional 4,547 shares in the last quarter. Barclays PLC grew its position in nCino by 22.2% in the 3rd quarter. Barclays PLC now owns 73,014 shares of the company’s stock valued at $2,306,000 after acquiring an additional 13,252 shares in the last quarter. KBC Group NV boosted its stake in shares of nCino by 3,082.1% in the 4th quarter. KBC Group NV now owns 75,988 shares of the company’s stock valued at $2,552,000 after buying an additional 73,600 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of nCino by 14.1% in the 4th quarter. Northern Trust Corp now owns 612,902 shares of the company’s stock valued at $20,581,000 after buying an additional 75,592 shares during the period. 94.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NCNO. Bank of America lifted their price objective on nCino from $22.00 to $26.00 and gave the company a “neutral” rating in a research note on Thursday, April 10th. KeyCorp reiterated a “sector weight” rating on shares of nCino in a research note on Monday, February 3rd. Truist Financial cut nCino from a “buy” rating to a “hold” rating and decreased their price objective for the company from $44.00 to $21.00 in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods decreased their price objective on nCino from $40.00 to $28.00 and set an “outperform” rating for the company in a research note on Thursday, April 3rd. Finally, Barclays decreased their price objective on nCino from $44.00 to $24.00 and set an “overweight” rating for the company in a research note on Wednesday, April 2nd. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $30.40.

nCino Trading Up 0.5%

NCNO opened at $24.60 on Friday. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of -144.70, a price-to-earnings-growth ratio of 5.77 and a beta of 0.71. nCino, Inc. has a 52 week low of $18.75 and a 52 week high of $43.20. The business’s 50 day moving average is $24.89 and its two-hundred day moving average is $31.77. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20.

nCino (NASDAQ:NCNO) last released 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). The firm had revenue of $141.37 million for 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 company’s quarterly revenue was up 14.3% on a year-over-year basis. During the same period last year, the firm earned $0.21 EPS. On average, research analysts predict that nCino, Inc. will post 0.12 EPS for the current year.

nCino declared that its board has initiated a share buyback plan on Tuesday, April 1st that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other nCino news, VP Jeanette Sellers sold 2,167 shares of nCino stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $22.79, for a total transaction of $49,385.93. Following the transaction, the vice president now owns 27,108 shares of the company’s stock, valued at $617,791.32. The trade was a 7.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Gregory Orenstein sold 12,101 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $20.86, for a total value of $252,426.86. Following the completion of the transaction, the chief financial officer now directly owns 259,643 shares in the company, valued at approximately $5,416,152.98. The trade was a 4.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 141,060 shares of company stock valued at $3,101,115 over the last quarter. 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.