nCino Inc. $NCNO Shares Bought by Comerica Bank

Key Points

• Comerica Bank increased its holdings in nCino Inc. by 12.8% during the first quarter, owning a total of 176,786 shares valued at approximately $4.86 million.
• Analysts have raised target prices for nCino shares, with JMP Securities setting a new target of $41.00 and several other firms also increasing their price targets.
• nCino reported a quarterly EPS of $0.22, surpassing analyst expectations and indicating a 12.4% revenue increase year-over-year.

Comerica Bank raised its holdings in nCino Inc. (NASDAQ:NCNO - Free Report) by 12.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 176,786 shares of the company's stock after purchasing an additional 20,066 shares during the period. Comerica Bank owned about 0.15% of nCino worth $4,856,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in NCNO. Covestor Ltd boosted its stake in nCino by 27.6% during the first quarter. Covestor Ltd now owns 2,388 shares of the company's stock worth $66,000 after buying an additional 517 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in shares of nCino by 22.5% in the 1st quarter. First Horizon Advisors Inc. now owns 2,924 shares of the company's stock valued at $80,000 after buying an additional 538 shares during the period. FNY Investment Advisers LLC purchased a new stake in shares of nCino in the 1st quarter valued at $82,000. Asset Management One Co. Ltd. raised its position in nCino by 63.1% in the 1st quarter. Asset Management One Co. Ltd. now owns 3,718 shares of the company's stock valued at $102,000 after purchasing an additional 1,439 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in nCino in the 1st quarter valued at about $102,000. 94.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Truist Financial upped their price objective on nCino from $27.00 to $32.00 and gave the stock a "hold" rating in a research report on Wednesday, August 27th. Piper Sandler upped their target price on nCino from $28.00 to $34.00 and gave the company a "neutral" rating in a research report on Wednesday, August 27th. Bank of America upped their target price on nCino from $34.00 to $38.00 and gave the company a "neutral" rating in a research report on Wednesday, August 27th. Keefe, Bruyette & Woods increased their price objective on nCino from $28.00 to $33.00 and gave the stock an "outperform" rating in a research report on Thursday, May 29th. Finally, JMP Securities increased their price objective on nCino from $35.00 to $41.00 and gave the stock a "market outperform" rating in a research report on Wednesday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $33.94.

nCino Stock Performance

Shares of NCNO stock traded down $0.64 during trading hours on Wednesday, reaching $30.44. 918,232 shares of the company's stock were exchanged, compared to its average volume of 1,780,260. The company has a market cap of $3.53 billion, a P/E ratio of -104.87, a price-to-earnings-growth ratio of 25.71 and a beta of 0.71. The company's 50 day moving average is $28.92 and its two-hundred day moving average is $27.37. nCino Inc. has a 1 year low of $18.75 and a 1 year high of $43.20. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.03 and a quick ratio of 1.05.

nCino (NASDAQ:NCNO - Get Free Report) last issued its earnings results on Tuesday, August 26th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.08. The business had revenue of $148.82 million during the quarter, compared to the consensus estimate of $143.17 million. nCino had a positive return on equity of 1.18% and a negative net margin of 5.86%.The company's revenue for the quarter was up 12.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.14 EPS. nCino has set its FY 2026 guidance at 0.770-0.800 EPS. Q3 2026 guidance at 0.200-0.21 EPS. Equities research analysts anticipate that nCino Inc. will post 0.12 EPS for the current fiscal year.

Insider Transactions at nCino

In related news, CFO Gregory Orenstein sold 4,155 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $27.45, for a total value of $114,054.75. Following the completion of the transaction, the chief financial officer directly owned 466,099 shares of the company's stock, valued at $12,794,417.55. This trade represents a 0.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jeff Horing sold 282,367 shares of the firm's stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $32.23, for a total value of $9,100,688.41. Following the completion of the transaction, the director directly owned 3,915,422 shares of the company's stock, valued at $126,194,051.06. The trade was a 6.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 564,772 shares of company stock worth $18,159,324 over the last ninety days. 5.70% of the stock is currently owned by corporate insiders.

About nCino

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.