nCino Inc. (NASDAQ:NCNO) Shares Purchased by Victory Capital Management Inc.

Key Points

• Victory Capital Management Inc. increased its stake in nCino Inc. by 241.1% in the first quarter, now owning 41,349 shares valued at approximately $1.14 million.
• nCino reported $144.14 million in revenue for the last quarter, exceeding the consensus estimate of $139.77 million, while earnings per share matched expectations at $0.16.
• Ten investment analysts have rated nCino with a "hold" while nine have given it a "buy" rating, resulting in an average price target of $31.13.

Victory Capital Management Inc. grew its stake in nCino Inc. (NASDAQ:NCNO - Free Report) by 241.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,349 shares of the company's stock after buying an additional 29,225 shares during the quarter. Victory Capital Management Inc.'s holdings in nCino were worth $1,136,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in nCino by 9.6% in the 4th quarter. Vanguard Group Inc. now owns 10,830,773 shares of the company's stock worth $363,697,000 after buying an additional 948,282 shares in the last quarter. Wasatch Advisors LP lifted its holdings in nCino by 171.9% in the 4th quarter. Wasatch Advisors LP now owns 6,177,783 shares of the company's stock worth $207,450,000 after purchasing an additional 3,905,802 shares in the last quarter. Capital International Investors lifted its holdings in nCino by 57.4% in the 4th quarter. Capital International Investors now owns 4,691,204 shares of the company's stock worth $157,531,000 after purchasing an additional 1,710,893 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in 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 worth $108,834,000 after purchasing an additional 1,889,283 shares in the last quarter. Finally, Soma Equity Partners LP lifted its holdings in nCino by 5.7% in the 4th quarter. Soma Equity Partners LP now owns 2,917,681 shares of the company's stock worth $97,976,000 after purchasing an additional 156,238 shares in the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other nCino news, VP Jeanette Sellers sold 2,167 shares of the firm's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $22.79, for a total transaction of $49,385.93. Following the completion of the transaction, the vice president owned 27,108 shares of the company's stock, valued at approximately $617,791.32. This trade represents a 7.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 5.70% of the stock is owned by insiders.

nCino Stock Down 2.8%

Shares of NCNO traded down $0.77 during mid-day trading on Friday, reaching $27.15. The company's stock had a trading volume of 1,475,122 shares, compared to its average volume of 1,337,768. nCino Inc. has a 12-month low of $18.75 and a 12-month high of $43.20. The stock has a market cap of $3.15 billion, a PE ratio of -104.42, a price-to-earnings-growth ratio of 27.05 and a beta of 0.77. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.05 and a quick ratio of 1.05. The company's 50 day moving average is $28.17 and its 200 day moving average is $28.09.

nCino (NASDAQ:NCNO - Get Free Report) last announced its earnings results on Wednesday, May 28th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.16. nCino had a positive return on equity of 0.19% and a negative net margin of 5.27%. The firm had revenue of $144.14 million during the quarter, compared to analysts' expectations of $139.77 million. During the same period in the prior year, the firm earned $0.19 EPS. The business's revenue was up 12.5% on a year-over-year basis. Equities analysts anticipate that nCino Inc. will post 0.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on NCNO shares. JMP Securities upped their price objective on nCino from $32.00 to $35.00 and gave the stock a "market outperform" rating in a report on Monday, June 9th. Scotiabank reaffirmed a "sector perform" rating and set a $26.00 price objective (up from $19.00) on shares of nCino in a report on Wednesday, May 21st. JPMorgan Chase & Co. initiated coverage on nCino in a report on Wednesday, June 18th. They set a "neutral" rating and a $30.00 price objective on the stock. UBS Group set a $28.00 price target on nCino in a report on Thursday, May 29th. Finally, Citigroup restated an "outperform" rating on shares of nCino in a report on Monday, June 9th. Ten analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $31.13.

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.