Conestoga Capital Advisors LLC Grows Stock Holdings in nCino Inc. (NASDAQ:NCNO)

Conestoga Capital Advisors LLC boosted its holdings in nCino Inc. (NASDAQ:NCNO - Free Report) by 2.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. 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 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Wasatch Advisors LP raised its stake in nCino by 171.9% in the fourth quarter. Wasatch Advisors LP now owns 6,177,783 shares of the company's stock valued at $207,450,000 after purchasing an additional 3,905,802 shares in the last quarter. Invesco Ltd. raised its position in shares of nCino by 3,006.0% in the 4th quarter. Invesco Ltd. now owns 2,602,497 shares of the company's stock valued at $87,392,000 after buying an additional 2,518,707 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of nCino in the 4th quarter valued at approximately $81,254,000. T. Rowe Price Investment Management Inc. raised its position in shares of nCino by 139.8% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,241,017 shares of the company's stock valued at $108,834,000 after buying an additional 1,889,283 shares in the last quarter. Finally, Capital International Investors lifted its holdings in shares of nCino by 57.4% during the 4th quarter. Capital International Investors now owns 4,691,204 shares of the company's stock worth $157,531,000 after acquiring an additional 1,710,893 shares during the period. Institutional investors own 94.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NCNO. Morgan Stanley lifted their price objective on shares of nCino from $27.00 to $29.00 and gave the company an "equal weight" rating in a research note on Thursday, May 29th. Needham & Company LLC reiterated a "buy" rating and issued a $33.00 price target on shares of nCino in a research note on Thursday, May 29th. Stephens boosted their price target on nCino from $24.00 to $28.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 21st. Scotiabank reaffirmed a "sector perform" rating and issued a $26.00 price objective (up from $19.00) on shares of nCino in a research note on Wednesday, May 21st. Finally, Piper Sandler reiterated a "neutral" rating and issued a $28.00 target price (up previously from $25.00) on shares of nCino in a research report on Thursday, May 29th. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $30.94.

Insider Buying and Selling at nCino

In other news, VP Jeanette Sellers sold 2,501 shares of nCino 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 sale, the vice president now owns 19,099 shares in the company, valued at approximately $410,819.49. This trade represents a 11.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider April Rieger sold 6,589 shares of the business's stock in a transaction dated 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 of the company's stock, valued at $5,601,673. The trade was a 2.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold 141,060 shares of company stock valued at $3,101,115 in the last quarter. 5.70% of the stock is currently owned by corporate insiders.

nCino Stock Performance

nCino stock traded down $0.35 during mid-day trading on Friday, reaching $26.45. The company's stock had a trading volume of 1,662,450 shares, compared to its average volume of 1,532,124. The firm's fifty day moving average price is $25.03 and its two-hundred day moving average price is $29.48. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.05 and a current ratio of 1.05. nCino Inc. has a 12-month low of $18.75 and a 12-month high of $43.20. The company has a market capitalization of $3.07 billion, a P/E ratio of -101.73, a PEG ratio of 27.54 and a beta of 0.76.

nCino (NASDAQ:NCNO - Get Free Report) last announced its quarterly earnings results 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 negative net margin of 5.27% and a positive return on equity of 0.19%. The company had revenue of $141.37 million during the quarter, compared to analysts' expectations of $140.81 million. During the same quarter last year, the firm posted $0.21 earnings per share. nCino's revenue for the quarter was up 14.3% compared to the same quarter last year. Sell-side analysts predict that nCino Inc. will post 0.12 EPS for the current fiscal year.

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

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.