Northern Trust Corp Grows Stock Holdings in nCino Inc. $NCNO

Key Points

• Northern Trust Corp increased its stake in nCino Inc. by 4.9% during the first quarter, owning approximately 0.56% of the company, valued at $17.67 million.
• nCino reported a 12.4% increase in revenue year-over-year, with a quarterly revenue of $148.82 million and an earnings per share (EPS) of $0.22, exceeding analysts' expectations.
• Analysts show a generally positive outlook on nCino, with a consensus rating of "Moderate Buy" and an average price target of $33.94 for the stock.

Northern Trust Corp increased its position in shares of nCino Inc. (NASDAQ:NCNO - Free Report) by 4.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 643,056 shares of the company's stock after acquiring an additional 30,154 shares during the period. Northern Trust Corp owned approximately 0.56% of nCino worth $17,665,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Covestor Ltd increased its holdings in shares of nCino by 27.6% in the 1st 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. grew its holdings in shares of nCino by 22.5% during the 1st quarter. First Horizon Advisors Inc. now owns 2,924 shares of the company's stock valued at $80,000 after purchasing an additional 538 shares during the last quarter. Xponance Inc. grew its holdings in shares of nCino by 7.9% during the 1st quarter. Xponance Inc. now owns 8,954 shares of the company's stock valued at $246,000 after purchasing an additional 656 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of nCino by 3.2% during the 4th quarter. The Manufacturers Life Insurance Company now owns 24,656 shares of the company's stock valued at $828,000 after purchasing an additional 772 shares during the last quarter. Finally, Angeles Wealth Management LLC grew its holdings in shares of nCino by 13.4% during the 1st quarter. Angeles Wealth Management LLC now owns 7,402 shares of the company's stock valued at $203,000 after purchasing an additional 877 shares during the last quarter. Institutional investors own 94.76% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Piper Sandler raised their price target on shares of nCino from $28.00 to $34.00 and gave the stock a "neutral" rating in a report on Wednesday, August 27th. UBS Group reaffirmed a "neutral" rating on shares of nCino in a research note on Wednesday, August 27th. Citigroup reaffirmed an "outperform" rating on shares of nCino in a research note on Wednesday, August 27th. Zacks Research lowered shares of nCino from a "strong-buy" rating to a "hold" rating in a research note on Wednesday. Finally, Bank of America lifted their target price on shares of nCino from $34.00 to $38.00 and gave the company a "neutral" rating in a research note on Wednesday, August 27th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $33.94.

nCino Price Performance

Shares of NCNO traded down $0.05 during mid-day trading on Friday, reaching $30.40. The stock had a trading volume of 2,222,355 shares, compared to its average volume of 1,944,778. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.03 and a current ratio of 1.03. The business has a fifty day moving average of $29.13 and a 200 day moving average of $27.35. nCino Inc. has a 12 month low of $18.75 and a 12 month high of $43.20. The firm has a market cap of $3.52 billion, a price-to-earnings ratio of -104.83, a PEG ratio of 20.08 and a beta of 0.71.

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

Insider Activity

In related news, CFO Gregory Orenstein sold 4,155 shares of the company's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $27.45, for a total transaction of $114,054.75. Following the completion of the transaction, the chief financial officer owned 466,099 shares in the company, valued at approximately $12,794,417.55. This represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sean Desmond sold 9,550 shares of the company's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $27.45, for a total transaction of $262,147.50. Following the transaction, the chief executive officer owned 628,603 shares of the company's stock, valued at approximately $17,255,152.35. This represents a 1.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 564,772 shares of company stock valued at $18,159,324 in the last quarter. Company insiders own 5.70% of the company's stock.

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.