LMR Partners LLP Invests $13.43 Million in nCino, Inc. (NASDAQ:NCNO)

LMR Partners LLP purchased a new position in nCino, Inc. (NASDAQ:NCNO - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 400,000 shares of the company's stock, valued at approximately $13,432,000. LMR Partners LLP owned about 0.35% of nCino at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of NCNO. Barclays PLC raised its stake in shares of nCino by 22.2% during the 3rd quarter. Barclays PLC now owns 73,014 shares of the company's stock worth $2,306,000 after purchasing an additional 13,252 shares in the last quarter. Mechanics Bank Trust Department acquired a new stake in nCino in the fourth quarter valued at approximately $201,000. Janney Montgomery Scott LLC grew its position in nCino by 12.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 9,865 shares of the company's stock worth $331,000 after acquiring an additional 1,072 shares in the last quarter. Cottonwood Capital Advisors LLC bought a new stake in nCino in the fourth quarter worth approximately $218,000. Finally, Fifth Third Bancorp bought a new position in shares of nCino during the 4th quarter valued at $34,000. Institutional investors and hedge funds own 94.76% of the company's stock.

nCino Price Performance

NCNO stock traded up $0.21 during trading on Thursday, hitting $24.48. The company had a trading volume of 892,308 shares, compared to its average volume of 1,449,547. The company has a fifty day moving average price of $25.06 and a two-hundred day moving average price of $31.96. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20. nCino, Inc. has a fifty-two week low of $18.75 and a fifty-two week high of $43.20. The company has a market cap of $2.82 billion, a P/E ratio of -143.99, a P/E/G ratio of 5.77 and a beta of 0.71.

nCino (NASDAQ:NCNO - Get Free Report) last posted its quarterly earnings data on Tuesday, April 1st. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.06). The company had revenue of $141.37 million during the quarter, compared to the consensus estimate of $140.81 million. nCino had a positive return on equity of 1.62% and a negative net margin of 3.46%. The business's revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.21 EPS. Equities research analysts expect that nCino, Inc. will post 0.12 earnings per share for the current fiscal year.

nCino announced that its Board of Directors has approved a share repurchase plan on Tuesday, April 1st that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to purchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms have commented on NCNO. Keefe, Bruyette & Woods lowered their target price on shares of nCino from $40.00 to $28.00 and set an "outperform" rating on the stock in a research report on Thursday, April 3rd. Bank of America boosted their target price on nCino from $22.00 to $26.00 and gave the stock a "neutral" rating in a report on Thursday, April 10th. Piper Sandler lowered their price target on nCino from $28.00 to $25.00 and set a "neutral" rating on the stock in a report on Wednesday, April 23rd. KeyCorp reissued a "sector weight" rating on shares of nCino in a research report on Monday, February 3rd. Finally, Morgan Stanley lowered their target price on shares of nCino from $39.00 to $23.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 2nd. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $30.40.

Insider Buying and Selling

In other news, insider April Rieger sold 6,589 shares of the firm's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $23.00, for a total value of $151,547.00. Following the transaction, the insider now directly owns 243,551 shares in the company, valued at $5,601,673. This trade represents a 2.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Jeanette Sellers sold 2,167 shares of the firm's stock in a transaction dated 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 owns 27,108 shares in the company, valued at approximately $617,791.32. This trade represents a 7.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 141,060 shares of company stock worth $3,101,115 over the last three months. 28.40% of the stock is currently owned by company insiders.

nCino 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.