TD Asset Management Inc Has $1.91 Million Holdings in nCino Inc. (NASDAQ:NCNO)

Key Points

• TD Asset Management Inc increased its stake in nCino Inc. by 43.6% in the first quarter, purchasing an additional 21,088 shares, bringing their total ownership to 69,480 shares valued at approximately $1.9 million.
• Analysts have set new price targets for nCino's stock, with JMP Securities raising their target from $32 to $35, and Keefe, Bruyette & Woods increasing theirs from $28 to $33, indicating a consensus rating of "Moderate Buy."
• nCino reported revenue of $144.14 million in its last earnings report, exceeding expectations, but experienced a negative net margin of 5.27% while achieving a positive return on equity of 0.19%.

TD Asset Management Inc lifted its position in shares of nCino Inc. (NASDAQ:NCNO - Free Report) by 43.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 69,480 shares of the company's stock after acquiring an additional 21,088 shares during the period. TD Asset Management Inc owned about 0.06% of nCino worth $1,909,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in NCNO. Wasatch Advisors LP grew its stake in shares of nCino by 171.9% in the fourth 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 grew its stake in shares of nCino by 57.4% in the fourth 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. grew its stake in shares of nCino by 139.8% in the fourth 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. Soma Equity Partners LP grew its stake in shares of nCino by 5.7% in the fourth 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. Finally, Ameriprise Financial Inc. grew its stake in shares of nCino by 140.5% in the fourth quarter. Ameriprise Financial Inc. now owns 2,900,467 shares of the company's stock worth $97,398,000 after purchasing an additional 1,694,218 shares in the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NCNO has been the subject of several recent analyst reports. JPMorgan Chase & Co. assumed coverage on nCino in a research note on Wednesday, June 18th. They issued a "neutral" rating and a $30.00 price target for the company. Stephens upped their price objective on nCino from $24.00 to $28.00 and gave the company an "equal weight" rating in a report on Wednesday, May 21st. Barclays restated an "overweight" rating and issued a $31.00 price objective (up previously from $24.00) on shares of nCino in a report on Thursday, May 29th. Piper Sandler restated a "neutral" rating and issued a $28.00 price objective (up previously from $25.00) on shares of nCino in a report on Thursday, May 29th. Finally, Scotiabank restated a "sector perform" rating and issued a $26.00 price objective (up previously from $19.00) on shares of nCino in a report on Wednesday, May 21st. Ten equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $31.13.

nCino Stock Down 2.3%

Shares of NASDAQ NCNO traded down $0.63 during mid-day trading on Tuesday, reaching $27.33. 1,353,282 shares of the company traded hands, compared to its average volume of 1,444,539. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market cap of $3.17 billion, a PE ratio of -105.12, a price-to-earnings-growth ratio of 27.85 and a beta of 0.77. The company's fifty day moving average is $28.20 and its two-hundred day moving average is $28.02. nCino Inc. has a fifty-two week low of $18.75 and a fifty-two week high of $43.20.

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

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.