Kayne Anderson Rudnick Investment Management LLC Has $231.44 Million Stock Holdings in nCino, Inc. (NASDAQ:NCNO)

Kayne Anderson Rudnick Investment Management LLC reduced its stake in nCino, Inc. (NASDAQ:NCNO) by 6.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,892,330 shares of the company’s stock after selling 512,676 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned 0.06% of nCino worth $231,444,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Capital Research Global Investors acquired a new stake in nCino during the fourth quarter worth approximately $23,274,000. Dimensional Fund Advisors LP lifted its holdings in nCino by 6.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,606,549 shares of the company’s stock worth $53,948,000 after purchasing an additional 99,502 shares during the last quarter. Capital International Investors boosted its stake in nCino by 57.4% in the 4th quarter. Capital International Investors now owns 4,691,204 shares of the company’s stock valued at $157,531,000 after purchasing an additional 1,710,893 shares during the period. Advisory Research Inc. acquired a new position in nCino in the 4th quarter valued at $2,333,000. Finally, Wasatch Advisors LP lifted its holdings in shares of nCino by 171.9% during the fourth quarter. Wasatch Advisors LP now owns 6,177,783 shares of the company’s stock worth $207,450,000 after buying an additional 3,905,802 shares in the last quarter. 94.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on NCNO. The Goldman Sachs Group lowered shares of nCino from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $42.00 to $24.00 in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods dropped their price target on shares of nCino from $40.00 to $28.00 and set an “outperform” rating for the company in a research report on Thursday, April 3rd. UBS Group set a $40.00 price objective on nCino in a research note on Friday, March 28th. Scotiabank reiterated a “sector perform” rating and set a $19.00 target price (down from $35.00) on shares of nCino in a research report on Wednesday, April 2nd. Finally, Raymond James decreased their price target on nCino from $42.00 to $32.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 2nd. Ten investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, nCino currently has an average rating of “Hold” and a consensus price target of $30.60.

Insiders Place Their Bets

In other news, CEO Sean Desmond sold 2,301 shares of the company’s stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $22.31, for a total value of $51,335.31. Following the sale, the chief executive officer now directly owns 296,296 shares of the company’s stock, valued at approximately $6,610,363.76. This represents a 0.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Jeanette Sellers sold 2,501 shares of the stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $21.51, for a total value of $53,796.51. Following the sale, the vice president now owns 19,099 shares of the company’s stock, valued at approximately $410,819.49. The trade was a 11.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 110,012 shares of company stock valued at $2,694,676 in the last ninety days. 28.40% of the stock is currently owned by insiders.

nCino Trading Up 0.1 %

Shares of NCNO stock opened at $23.95 on Friday. nCino, Inc. has a twelve month low of $18.75 and a twelve month high of $43.20. The stock’s fifty day simple moving average is $28.19 and its 200 day simple moving average is $33.38. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $2.79 billion, a P/E ratio of -140.87, a P/E/G ratio of 5.77 and a beta of 0.69.

nCino (NASDAQ:NCNO) last announced its quarterly earnings results on Tuesday, April 1st. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.06). nCino had a negative net margin of 3.46% and a positive return on equity of 1.62%. The firm had revenue of $141.37 million for the quarter, compared to analyst estimates of $140.81 million. During the same period in the previous year, the business posted $0.21 earnings per share. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, sell-side analysts predict that nCino, Inc. will post 0.12 EPS for the current fiscal year.

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

About nCino

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.