UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 97,333 Shares of nCino, Inc. (NASDAQ:NCNO)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of nCino, Inc. (NASDAQ:NCNO - Free Report) by 67.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 242,090 shares of the company's stock after purchasing an additional 97,333 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.21% of nCino worth $8,129,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of NCNO. Fifth Third Bancorp bought a new stake in shares of nCino in the 4th quarter worth approximately $34,000. Johnson Financial Group Inc. purchased a new stake in shares of nCino in the 4th quarter worth about $57,000. Asset Management One Co. Ltd. grew its position in shares of nCino by 16.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company's stock worth $78,000 after buying an additional 323 shares during the period. PNC Financial Services Group Inc. grew its position in shares of nCino by 32.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,536 shares of the company's stock worth $152,000 after buying an additional 1,122 shares during the period. Finally, BNP Paribas Financial Markets purchased a new stake in shares of nCino in the 4th quarter worth about $153,000. 94.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NCNO. Morgan Stanley upped their target price on shares of nCino from $27.00 to $29.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 29th. JMP Securities reaffirmed a "market outperform" rating and issued a $32.00 target price on shares of nCino in a research report on Tuesday, May 27th. Raymond James cut their price objective on shares of nCino from $42.00 to $32.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 2nd. Piper Sandler reissued a "neutral" rating and set a $28.00 price objective (up from $25.00) on shares of nCino in a research report on Thursday, May 29th. Finally, William Blair cut shares of nCino from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 2nd. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $30.80.

Insider Buying and Selling

In other nCino news, CEO Sean Desmond sold 12,339 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $23.00, for a total transaction of $283,797.00. Following the completion of the sale, the chief executive officer now directly owns 637,405 shares of the company's stock, valued at $14,660,315. This trade represents a 1.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Gregory Orenstein sold 12,101 shares of the firm's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $20.86, for a total transaction of $252,426.86. Following the completion of the transaction, the chief financial officer now directly owns 259,643 shares of the company's stock, valued at approximately $5,416,152.98. This trade represents a 4.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 141,060 shares of company stock valued at $3,101,115. 5.70% of the stock is owned by corporate insiders.

nCino Stock Performance

Shares of NASDAQ:NCNO traded down $0.03 during trading on Wednesday, hitting $27.23. The company's stock had a trading volume of 1,613,987 shares, compared to its average volume of 1,524,504. The company has a 50-day moving average of $24.26 and a 200-day moving average of $30.55. The firm has a market cap of $3.16 billion, a price-to-earnings ratio of -160.17, a P/E/G ratio of 5.77 and a beta of 0.71. nCino, Inc. has a 12 month low of $18.75 and a 12 month high of $43.20. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95.

nCino (NASDAQ:NCNO - Get Free Report) last released its earnings results on Tuesday, April 1st. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.06). The firm had revenue of $141.37 million during the quarter, compared to analysts' expectations of $140.81 million. nCino had a positive return on equity of 1.62% and a negative net margin of 3.46%. The company's revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.21 earnings per share. On average, sell-side analysts expect that nCino, Inc. will post 0.12 earnings per share for the current year.

nCino announced that its Board of Directors has initiated a share repurchase program on Tuesday, April 1st that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

nCino 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.