nCino Inc. $NCNO Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio cut its stake in shares of nCino Inc. (NASDAQ:NCNO) by 63.2% in the 1st quarter, Holdings Channel reports. The institutional investor owned 32,313 shares of the company’s stock after selling 55,510 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in nCino were worth $484,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in NCNO. CWM LLC raised its position in shares of nCino by 255.8% in the 4th quarter. CWM LLC now owns 1,142 shares of the company’s stock worth $29,000 after buying an additional 821 shares during the period. Los Angeles Capital Management LLC purchased a new stake in nCino during the fourth quarter valued at about $38,000. Farther Finance Advisors LLC increased its stake in nCino by 76.2% during the fourth quarter. Farther Finance Advisors LLC now owns 1,670 shares of the company’s stock worth $43,000 after acquiring an additional 722 shares during the last quarter. Quarry LP increased its stake in nCino by 138.2% during the third quarter. Quarry LP now owns 1,701 shares of the company’s stock worth $46,000 after acquiring an additional 987 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new position in shares of nCino in the 3rd quarter worth about $65,000. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NCNO has been the topic of several research analyst reports. Citigroup reaffirmed a “market outperform” rating on shares of nCino in a research note on Monday, June 22nd. Zacks Research lowered shares of nCino from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of nCino in a research report on Wednesday, June 24th. The Goldman Sachs Group reduced their price target on shares of nCino from $24.00 to $21.00 and set a “neutral” rating on the stock in a research report on Thursday, May 14th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $25.00 price objective on shares of nCino in a research note on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, nCino currently has an average rating of “Moderate Buy” and an average price target of $25.29.

nCino Trading Up 1.6%

NASDAQ:NCNO opened at $19.50 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.89 and a current ratio of 0.89. nCino Inc. has a one year low of $13.80 and a one year high of $33.92. The business’s 50-day simple moving average is $16.56 and its 200 day simple moving average is $17.15. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of 162.50 and a beta of 0.66.

Insider Transactions at nCino

In other nCino news, CEO Sean Desmond sold 8,064 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $17.47, for a total value of $140,878.08. Following the transaction, the chief executive officer directly owned 1,262,492 shares of the company’s stock, valued at $22,055,735.24. This represents a 0.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.90% of the stock is owned by corporate insiders.

nCino Company Profile

nCino, Inc provides a cloud-based banking operating system designed to modernize and streamline processes for financial institutions. Built on a software-as-a-service (SaaS) model, the nCino Bank Operating System integrates key banking functions into a unified platform, enabling banks and credit unions to enhance efficiency, reduce risk and improve customer experiences.

Founded in 2012 as a spinoff from Live Oak Bank, nCino launched its flagship offering to address the needs of commercial and retail lenders seeking to replace legacy systems.