Gotham Asset Management LLC Boosts Holdings in nCino, Inc. (NASDAQ:NCNO)

Gotham Asset Management LLC boosted its position in shares of nCino, Inc. (NASDAQ:NCNO) by 130.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,304 shares of the company’s stock after acquiring an additional 32,456 shares during the period. Gotham Asset Management LLC’s holdings in nCino were worth $1,924,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fifth Third Bancorp purchased a new stake in nCino during the fourth quarter valued at approximately $34,000. Johnson Financial Group Inc. purchased a new stake in nCino during the fourth quarter valued at approximately $57,000. Asset Management One Co. Ltd. lifted its position in nCino by 16.5% during the fourth quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company’s stock valued at $78,000 after acquiring an additional 323 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in nCino by 32.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,536 shares of the company’s stock valued at $152,000 after acquiring an additional 1,122 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in nCino during the fourth quarter valued at approximately $153,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Wall Street Analysts Forecast Growth

NCNO has been the subject of a number of research analyst reports. Scotiabank reaffirmed a “sector perform” rating and issued a $19.00 price target (down previously from $35.00) on shares of nCino in a report on Wednesday, April 2nd. Truist Financial cut shares of nCino from a “buy” rating to a “hold” rating and decreased their price target for the stock from $44.00 to $21.00 in a report on Wednesday, April 2nd. Stephens reaffirmed an “equal weight” rating and issued a $38.00 price target on shares of nCino in a report on Wednesday, April 2nd. Barclays decreased their price target on shares of nCino from $44.00 to $24.00 and set an “overweight” rating for the company in a report on Wednesday, April 2nd. Finally, William Blair cut shares of nCino from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 2nd. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $30.40.

nCino Stock Up 0.9%

NCNO stock opened at $24.48 on Friday. The firm has a market cap of $2.82 billion, a PE ratio of -143.99, a P/E/G ratio of 5.77 and a beta of 0.71. 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 firm’s fifty day moving average is $24.97 and its 200 day moving average is $31.87. nCino, Inc. has a one year low of $18.75 and a one year high of $43.20.

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 negative net margin of 3.46% and a positive return on equity of 1.62%. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.21 EPS. On average, research analysts forecast that nCino, Inc. will post 0.12 EPS for the current year.

nCino announced that its board has approved a share repurchase program on Tuesday, April 1st that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at nCino

In related news, CEO Sean Desmond sold 7,880 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $20.86, for a total transaction of $164,376.80. Following the sale, the chief executive officer now owns 298,597 shares in the company, valued at approximately $6,228,733.42. This trade represents a 2.57% 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 hyperlink. Also, CFO Gregory Orenstein sold 12,101 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total transaction of $252,426.86. Following the sale, the chief financial officer now directly owns 259,643 shares of the company’s stock, valued at $5,416,152.98. This represents a 4.45% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 141,060 shares of company stock worth $3,101,115. 28.40% of the stock is owned by company insiders.

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.