Gotham Asset Management LLC Increases Position in nCino, Inc. (NASDAQ:NCNO)

Gotham Asset Management LLC boosted its stake in shares of nCino, Inc. (NASDAQ:NCNO - Free Report) by 130.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 57,304 shares of the company's stock after purchasing an additional 32,456 shares during the period. Gotham Asset Management LLC's holdings in nCino were worth $1,924,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Conestoga Capital Advisors LLC bought a new stake in nCino in the 4th quarter valued at $70,256,000. Amundi raised its position in nCino by 312.1% in the 4th quarter. Amundi now owns 6,004 shares of the company's stock worth $201,000 after purchasing an additional 4,547 shares during the period. Barclays PLC lifted its stake in shares of nCino by 22.2% during the 3rd quarter. Barclays PLC now owns 73,014 shares of the company's stock worth $2,306,000 after acquiring an additional 13,252 shares during the last quarter. KBC Group NV lifted its position in shares of nCino by 3,082.1% during the fourth quarter. KBC Group NV now owns 75,988 shares of the company's stock worth $2,552,000 after purchasing an additional 73,600 shares during the last quarter. Finally, Northern Trust Corp boosted its position in nCino by 14.1% in the 4th quarter. Northern Trust Corp now owns 612,902 shares of the company's stock valued at $20,581,000 after buying an additional 75,592 shares during the period. 94.76% of the stock is owned by hedge funds and other institutional investors.

nCino Price Performance

NCNO stock traded up $0.25 during trading on Wednesday, hitting $26.06. The stock had a trading volume of 408,022 shares, compared to its average volume of 1,463,880. The company's 50-day moving average price is $24.77 and its two-hundred day moving average price is $31.56. nCino, Inc. has a twelve month low of $18.75 and a twelve 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. The stock has a market capitalization of $3.00 billion, a P/E ratio of -152.84, a PEG ratio of 5.77 and a beta of 0.71.

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

nCino declared that its board has approved a stock buyback program on Tuesday, April 1st that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to repurchase up to 3.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Insider Activity

In other nCino news, VP Jeanette Sellers sold 2,167 shares of nCino stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $22.79, for a total value of $49,385.93. Following the completion of the transaction, the vice president now directly owns 27,108 shares of the company's stock, valued at $617,791.32. The trade was a 7.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sean Desmond sold 7,880 shares of the company's 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 sale, the chief executive officer now directly owns 298,597 shares in the company, valued at approximately $6,228,733.42. The trade was a 2.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 141,060 shares of company stock valued at $3,101,115 in the last 90 days. Company insiders own 28.40% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on NCNO shares. Truist Financial cut shares of nCino from a "buy" rating to a "hold" rating and dropped their target price for the stock from $44.00 to $21.00 in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods reduced their target price on nCino from $40.00 to $28.00 and set an "outperform" rating on the stock in a research report on Thursday, April 3rd. KeyCorp reaffirmed a "sector weight" rating on shares of nCino in a report on Monday, February 3rd. The Goldman Sachs Group downgraded nCino from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $42.00 to $24.00 in a report on Wednesday, April 2nd. Finally, UBS Group set a $40.00 target price on shares of nCino in a research report on Friday, March 28th. Ten investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $29.73.

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.