Cramer Rosenthal Mcglynn LLC Purchases 62,142 Shares of nCino Inc. $NCNO

Key Points

• Cramer Rosenthal Mcglynn LLC increased its stake in nCino by 19.8% in Q3, buying 62,142 shares to hold 375,310 shares worth about $10.18 million (≈0.32% of the company).
• The company’s board approved a $100 million share buyback (about 3.7% of shares), and analysts’ consensus is a "Moderate Buy" with an average price target of $32.33.
• Insiders sold 71,310 shares last quarter—including CEO Sean Desmond (16,047) and director Pierre Naude (24,273)—bringing insider ownership to 5.7%.

Cramer Rosenthal Mcglynn LLC grew its position in nCino Inc. (NASDAQ:NCNO - Free Report) by 19.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 375,310 shares of the company's stock after acquiring an additional 62,142 shares during the quarter. Cramer Rosenthal Mcglynn LLC owned 0.32% of nCino worth $10,175,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Farther Finance Advisors LLC raised its stake in nCino by 186.4% during the third quarter. Farther Finance Advisors LLC now owns 948 shares of the company's stock valued at $26,000 after purchasing an additional 617 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in nCino by 68.5% during the second quarter. Advisors Asset Management Inc. now owns 1,127 shares of the company's stock worth $32,000 after buying an additional 458 shares during the period. AlphaQuest LLC increased its position in nCino by 5,022.2% during the third quarter. AlphaQuest LLC now owns 1,383 shares of the company's stock valued at $37,000 after acquiring an additional 1,356 shares during the last quarter. Fifth Third Bancorp increased its position in nCino by 105.3% during the third quarter. Fifth Third Bancorp now owns 1,915 shares of the company's stock valued at $52,000 after acquiring an additional 982 shares during the last quarter. Finally, Bessemer Group Inc. raised its stake in shares of nCino by 1,536.6% in the third quarter. Bessemer Group Inc. now owns 3,355 shares of the company's stock valued at $91,000 after acquiring an additional 3,150 shares during the period. 94.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. JPMorgan Chase & Co. dropped their target price on nCino from $30.00 to $16.00 and set a "neutral" rating for the company in a research report on Wednesday, February 18th. Keefe, Bruyette & Woods boosted their target price on shares of nCino from $34.50 to $36.00 and gave the company an "outperform" rating in a research note on Thursday, December 4th. Needham & Company LLC reiterated a "buy" rating and set a $38.00 price objective on shares of nCino in a report on Thursday, December 4th. Piper Sandler lowered their price objective on shares of nCino from $34.00 to $30.00 and set a "neutral" rating for the company in a research report on Thursday, December 4th. Finally, Barclays reduced their target price on shares of nCino from $37.00 to $34.00 and set an "overweight" rating on the stock in a research report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $32.33.

Insider Activity

In other nCino news, CEO Sean Desmond sold 16,047 shares of the firm's stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $18.68, for a total value of $299,757.96. Following the completion of the transaction, the chief executive officer owned 602,550 shares of the company's stock, valued at approximately $11,255,634. This trade represents a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Pierre Naude sold 24,273 shares of nCino stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $18.68, for a total value of $453,419.64. Following the sale, the director directly owned 1,166,823 shares of the company's stock, valued at approximately $21,796,253.64. This represents a 2.04% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 71,310 shares of company stock valued at $1,382,650. 5.70% of the stock is owned by company insiders.

nCino Price Performance

NCNO opened at $16.82 on Friday. The firm has a market capitalization of $1.93 billion, a PE ratio of -93.44, a price-to-earnings-growth ratio of 3.23 and a beta of 0.59. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.01 and a quick ratio of 1.01. The business's 50-day moving average is $20.84 and its two-hundred day moving average is $24.76. nCino Inc. has a 1 year low of $13.80 and a 1 year high of $33.92.

nCino (NASDAQ:NCNO - Get Free Report) last released its quarterly earnings results on Wednesday, December 3rd. The company reported $0.31 earnings per share for the quarter, beating analysts' consensus estimates of $0.20 by $0.11. nCino had a negative net margin of 3.71% and a positive return on equity of 2.28%. The business had revenue of $152.16 million for the quarter, compared to analysts' expectations of $147.31 million. During the same period last year, the business earned $0.21 EPS. The company's revenue was up 9.6% compared to the same quarter last year. Research analysts anticipate that nCino Inc. will post 0.12 earnings per share for the current fiscal year.

nCino declared that its Board of Directors has initiated a stock buyback program on Monday, December 8th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to reacquire up to 3.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

nCino 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.

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