Conestoga Capital Advisors LLC Raises Stake in nCino, Inc. (NASDAQ:NCNO)

Conestoga Capital Advisors LLC increased its holdings in shares of nCino, Inc. (NASDAQ:NCNO - Free Report) by 2.9% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,153,285 shares of the company's stock after purchasing an additional 61,090 shares during the quarter. Conestoga Capital Advisors LLC owned 1.85% of nCino worth $59,151,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Johnson Financial Group Inc. acquired a new stake in shares of nCino in the fourth quarter worth $57,000. Asset Management One Co. Ltd. raised its position in nCino by 16.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company's stock valued at $78,000 after purchasing an additional 323 shares during the period. FNY Investment Advisers LLC acquired a new position in shares of nCino during the first quarter worth about $82,000. PNC Financial Services Group Inc. lifted its stake in shares of nCino by 32.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,536 shares of the company's stock worth $152,000 after purchasing an additional 1,122 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in shares of nCino in the fourth quarter worth about $153,000. Hedge funds and other institutional investors own 94.76% of the company's stock.

Insider Activity at nCino

In other nCino news, CEO Sean Desmond sold 12,339 shares of the business's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $23.00, for a total transaction of $283,797.00. Following the completion of the transaction, the chief executive officer now directly owns 637,405 shares of the company's stock, valued at $14,660,315. The trade was a 1.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Jeanette Sellers sold 2,501 shares of the company's stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $21.51, for a total transaction of $53,796.51. Following the completion of the transaction, the vice president now owns 19,099 shares of the company's stock, valued at approximately $410,819.49. This trade represents a 11.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold 141,060 shares of company stock worth $3,101,115 in the last 90 days. 5.70% of the stock is currently owned by company insiders.

nCino Trading Down 0.3%

nCino stock opened at $26.90 on Tuesday. nCino, Inc. has a 1 year low of $18.75 and a 1 year high of $43.20. The firm's 50-day moving average is $24.87 and its 200-day moving average is $29.62. 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 company has a market cap of $3.12 billion, a P/E ratio of -158.23, a PEG ratio of 5.77 and a beta of 0.76.

nCino (NASDAQ:NCNO - Get Free Report) last released 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). nCino had a positive return on equity of 1.62% and a negative net margin of 3.46%. The business had revenue of $141.37 million for the quarter, compared to analyst estimates of $140.81 million. During the same quarter last year, the company earned $0.21 EPS. nCino's revenue was up 14.3% compared to the same quarter last year. On average, equities analysts expect that nCino, Inc. will post 0.12 earnings per share for the current year.

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NCNO. Truist Financial raised their target price on nCino from $21.00 to $27.00 and gave the company a "hold" rating in a report on Thursday, May 29th. Stephens lifted their price objective on shares of nCino from $24.00 to $28.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 21st. William Blair downgraded shares of nCino from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 2nd. Raymond James lowered their price target on shares of nCino from $42.00 to $32.00 and set an "outperform" rating for the company in a report on Wednesday, April 2nd. Finally, Piper Sandler reiterated a "neutral" rating and issued a $28.00 price objective (up previously from $25.00) on shares of nCino in a report on Thursday, May 29th. Ten investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, nCino presently has an average rating of "Hold" and an average target price of $31.00.

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.

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