Public Employees Retirement System of Ohio Grows Stock Holdings in nCino, Inc. (NASDAQ:NCNO)

Public Employees Retirement System of Ohio grew its position in shares of nCino, Inc. (NASDAQ:NCNO - Free Report) by 30.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 160,216 shares of the company's stock after purchasing an additional 37,260 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.14% of nCino worth $5,380,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in NCNO. Fifth Third Bancorp bought a new stake in nCino during the fourth quarter worth approximately $34,000. Johnson Financial Group Inc. purchased a new position in shares of nCino during the fourth quarter valued at approximately $57,000. Asset Management One Co. Ltd. boosted its position in shares of nCino by 16.5% during the fourth quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company's stock valued at $78,000 after buying an additional 323 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of nCino by 32.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,536 shares of the company's stock valued at $152,000 after acquiring an additional 1,122 shares in the last quarter. Finally, BNP Paribas Financial Markets bought a new stake in shares of nCino during the fourth quarter valued at approximately $153,000. Hedge funds and other institutional investors own 94.76% of the company's stock.

nCino Price Performance

Shares of NCNO traded down $0.11 during mid-day trading on Monday, hitting $26.19. 399,875 shares of the company were exchanged, compared to its average volume of 1,511,349. 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 0.20, a quick ratio of 1.95 and a current ratio of 1.95. The company has a 50 day moving average of $24.41 and a 200-day moving average of $30.70. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of -153.96, a price-to-earnings-growth ratio of 5.77 and a beta of 0.71.

nCino (NASDAQ:NCNO - Get Free Report) last released its quarterly earnings data on Tuesday, April 1st. The company reported $0.12 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.06). The business had revenue of $141.37 million during the quarter, compared to analyst estimates of $140.81 million. nCino had a negative net margin of 3.46% and a positive return on equity of 1.62%. The firm's revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.21 EPS. Analysts expect that nCino, Inc. will post 0.12 EPS for the current fiscal year.

nCino declared that its Board of Directors has approved a stock buyback plan on Tuesday, April 1st that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Insider Transactions at nCino

In related news, insider April Rieger sold 7,881 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $20.86, for a total transaction of $164,397.66. Following the completion of the transaction, the insider now owns 138,072 shares of the company's stock, valued at approximately $2,880,181.92. This trade represents a 5.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sean Desmond sold 7,880 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total transaction of $164,376.80. Following the transaction, the chief executive officer now directly owns 298,597 shares of the company's stock, valued at $6,228,733.42. The trade was a 2.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold 141,060 shares of company stock worth $3,101,115 in the last 90 days. Insiders own 5.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on NCNO shares. KeyCorp reissued a "sector weight" rating on shares of nCino in a research note on Monday, February 3rd. Stephens upped their price target on nCino from $24.00 to $28.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 21st. JMP Securities reissued a "market outperform" rating and issued a $32.00 target price on shares of nCino in a research report on Tuesday, May 27th. Needham & Company LLC reissued a "buy" rating and issued a $33.00 target price on shares of nCino in a research report on Thursday. Finally, Raymond James lowered their price target on shares of nCino from $42.00 to $32.00 and set an "outperform" rating on the stock in a report on Wednesday, April 2nd. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $30.80.

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.