75,725 Shares in nCino Inc. $NCNO Acquired by Advisors Capital Management LLC

Advisors Capital Management LLC acquired a new stake in nCino Inc. (NASDAQ:NCNO - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 75,725 shares of the company's stock, valued at approximately $1,238,000. Advisors Capital Management LLC owned 0.07% of nCino at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CWM LLC increased its holdings in nCino by 255.8% in the fourth quarter. CWM LLC now owns 1,142 shares of the company's stock valued at $29,000 after purchasing an additional 821 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in nCino in the fourth quarter valued at about $38,000. Farther Finance Advisors LLC grew its position in shares of nCino by 76.2% during the 4th quarter. Farther Finance Advisors LLC now owns 1,670 shares of the company's stock worth $43,000 after buying an additional 722 shares during the period. Quarry LP increased its stake in shares of nCino by 138.2% in the 3rd quarter. Quarry LP now owns 1,701 shares of the company's stock valued at $46,000 after acquiring an additional 987 shares during the last quarter. Finally, Optiver Holding B.V. bought a new stake in shares of nCino in the 1st quarter valued at about $32,000. 94.76% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Pierre Naude sold 4,677 shares of the business's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $19.22, for a total transaction of $89,891.94. Following the transaction, the director directly owned 1,116,707 shares of the company's stock, valued at approximately $21,463,108.54. The trade was a 0.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider April Rieger sold 7,852 shares of the business's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $19.22, for a total value of $150,915.44. Following the transaction, the insider directly owned 375,749 shares in the company, valued at $7,221,895.78. The trade was a 2.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 83,350 shares of company stock valued at $1,568,144. 1.90% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. upped their target price on shares of nCino from $16.00 to $17.00 and gave the company a "neutral" rating in a research note on Monday, June 22nd. Weiss Ratings raised shares of nCino from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, May 28th. Citigroup restated a "market outperform" rating on shares of nCino in a research report on Monday, June 22nd. Needham & Company LLC reaffirmed a "buy" rating and set a $25.00 price objective on shares of nCino in a research note on Thursday, May 28th. Finally, Wall Street Zen upgraded nCino from a "hold" rating to a "buy" rating in a report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, nCino currently has an average rating of "Moderate Buy" and a consensus price target of $25.29.

nCino Stock Up 1.3%

Shares of NCNO stock opened at $20.62 on Friday. nCino Inc. has a 52-week low of $13.80 and a 52-week high of $33.92. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of 171.83 and a beta of 0.66. The firm's 50-day moving average is $17.66 and its 200-day moving average is $16.87. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.89 and a current ratio of 0.89.

About nCino

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.

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