nCino (NASDAQ:NCNO) Releases Earnings Results, Misses Estimates By $0.14 EPS

nCino (NASDAQ:NCNO) announced its quarterly earnings data on Wednesday. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.14), Zacks reports. nCino had a negative net margin of 3.46% and a positive return on equity of 1.62%.

nCino Trading Down 0.7%

NCNO traded down $0.20 during trading on Wednesday, hitting $26.78. 3,285,585 shares of the company’s stock were exchanged, compared to its average volume of 1,506,584. The stock has a 50 day moving average price of $24.55 and a 200 day moving average price of $31.09. nCino has a 1 year low of $18.75 and a 1 year high of $43.20. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20. The firm has a market cap of $3.09 billion, a P/E ratio of -157.52, a price-to-earnings-growth ratio of 5.77 and a beta of 0.71.

nCino announced that its board has initiated a stock repurchase program on Tuesday, April 1st that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at nCino

In other news, insider April Rieger sold 6,589 shares of the stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $23.00, for a total value of $151,547.00. Following the completion of the sale, the insider now owns 243,551 shares in the company, valued at approximately $5,601,673. This trade represents a 2.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jeanette Sellers sold 2,167 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $22.79, for a total value of $49,385.93. Following the transaction, the vice president now directly owns 27,108 shares in the company, valued at $617,791.32. This trade represents a 7.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 141,060 shares of company stock worth $3,101,115. 5.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On nCino

A number of large investors have recently added to or reduced their stakes in NCNO. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of nCino by 16.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 281,435 shares of the company’s stock worth $7,731,000 after acquiring an additional 39,345 shares in the last quarter. Woodline Partners LP increased its holdings in nCino by 105.3% during the 1st quarter. Woodline Partners LP now owns 13,227 shares of the company’s stock worth $363,000 after purchasing an additional 6,783 shares during the last quarter. Finally, Millennium Management LLC raised its position in shares of nCino by 16.6% in the 1st quarter. Millennium Management LLC now owns 303,853 shares of the company’s stock valued at $8,347,000 after purchasing an additional 43,247 shares in the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on NCNO shares. Needham & Company LLC boosted their price target on nCino from $28.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, May 22nd. KeyCorp reiterated a “sector weight” rating on shares of nCino in a research note on Monday, February 3rd. Barclays decreased their price target on nCino from $44.00 to $24.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 2nd. Stephens lifted their price target on nCino from $24.00 to $28.00 and gave the company an “equal weight” rating in a report on Wednesday, May 21st. Finally, JMP Securities reiterated a “market outperform” rating and set a $32.00 price objective on shares of nCino in a report on Tuesday. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $30.07.

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.