nCino, Inc. (NASDAQ:NCNO) Stake Raised by Daventry Group LP

Daventry Group LP boosted its holdings in shares of nCino, Inc. (NASDAQ:NCNO - Free Report) by 19.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,027,878 shares of the company's stock after buying an additional 169,146 shares during the quarter. nCino accounts for about 13.2% of Daventry Group LP's portfolio, making the stock its 3rd largest holding. Daventry Group LP owned about 0.89% of nCino worth $34,516,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Fifth Third Bancorp acquired a new position in shares of nCino in the 4th quarter valued at $34,000. Hilltop National Bank acquired a new position in shares of nCino in the fourth quarter worth about $37,000. Johnson Financial Group Inc. purchased a new stake in shares of nCino during the 4th quarter worth about $57,000. Asset Management One Co. Ltd. grew its position in shares of nCino by 16.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company's stock valued at $78,000 after acquiring an additional 323 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in shares of nCino by 32.9% during the 4th 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 during the period. 94.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Keefe, Bruyette & Woods lowered their price target on nCino from $40.00 to $28.00 and set an "outperform" rating on the stock in a research report on Thursday, April 3rd. Truist Financial cut shares of nCino from a "buy" rating to a "hold" rating and dropped their price target for the company from $44.00 to $21.00 in a research note on Wednesday, April 2nd. Barclays decreased their price objective on shares of nCino from $44.00 to $24.00 and set an "overweight" rating on the stock in a report on Wednesday, April 2nd. KeyCorp reissued a "sector weight" rating on shares of nCino in a research note on Monday, February 3rd. Finally, Raymond James decreased their price target on shares of nCino from $42.00 to $32.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 2nd. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $30.40.

nCino Stock Performance

Shares of nCino stock opened at $22.15 on Wednesday. nCino, Inc. has a one year low of $18.75 and a one 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 business's 50 day moving average price is $25.84 and its 200 day moving average price is $32.49. The company has a market cap of $2.55 billion, a price-to-earnings ratio of -130.29, a PEG 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 company's revenue was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.21 earnings per share. On average, research analysts predict that nCino, Inc. will post 0.12 EPS for the current year.

nCino announced that its board has authorized a share buyback plan on Tuesday, April 1st that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at nCino

In other nCino news, VP Jeanette Sellers sold 2,167 shares of the business's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $22.79, for a total value of $49,385.93. Following the transaction, the vice president now directly owns 27,108 shares of the company's stock, valued at approximately $617,791.32. The trade was a 7.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider April Rieger sold 7,881 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total transaction of $164,397.66. Following the completion of the sale, the insider now owns 138,072 shares of the company's stock, valued at $2,880,181.92. This trade represents a 5.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 141,060 shares of company stock valued at $3,101,115 over the last quarter. 28.40% of the stock is owned by company insiders.

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.

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