Sepio Capital LP Grows Holdings in nCino, Inc. (NASDAQ:NCNO)

Sepio Capital LP boosted its holdings in nCino, Inc. (NASDAQ:NCNO - Free Report) by 42.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 60,797 shares of the company's stock after purchasing an additional 18,135 shares during the quarter. Sepio Capital LP owned about 0.05% of nCino worth $2,042,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Russell Investments Group Ltd. raised its stake in shares of nCino by 37,664.9% in the fourth quarter. Russell Investments Group Ltd. now owns 105,364 shares of the company's stock worth $3,538,000 after purchasing an additional 105,085 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in nCino in the 4th quarter valued at $886,000. Landscape Capital Management L.L.C. purchased a new stake in nCino in the 4th quarter valued at $486,000. Motley Fool Asset Management LLC boosted its holdings in nCino by 10.4% during the 4th quarter. Motley Fool Asset Management LLC now owns 58,120 shares of the company's stock worth $1,952,000 after acquiring an additional 5,480 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of nCino in the 4th quarter worth $81,254,000. Institutional investors and hedge funds own 94.76% of the company's stock.

Insiders Place Their Bets

In other nCino news, Director Pierre Naude sold 17,026 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total transaction of $555,047.60. Following the completion of the sale, the director now directly owns 1,097,213 shares of the company's stock, valued at approximately $35,769,143.80. This represents a 1.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider April Rieger sold 7,881 shares of nCino 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 transaction, the insider now owns 138,072 shares in the company, valued at $2,880,181.92. This represents a 5.40 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 110,012 shares of company stock valued at $2,694,676. Insiders own 28.40% of the company's stock.

nCino Trading Down 1.7 %

Shares of NASDAQ:NCNO traded down $0.39 on Friday, hitting $23.01. The company had a trading volume of 1,164,629 shares, compared to its average volume of 1,356,097. The firm's 50-day simple moving average is $29.25 and its two-hundred day simple moving average is $33.67. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of -136.13, a P/E/G ratio of 5.77 and a beta of 0.69. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20. nCino, Inc. has a 1 year low of $18.75 and a 1 year high of $43.20.

nCino (NASDAQ:NCNO - Get Free Report) last issued its quarterly earnings data on Tuesday, April 1st. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.06). The company 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 business's quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the business earned $0.21 earnings per share. Equities analysts anticipate that nCino, Inc. will post 0.12 earnings per share for the current fiscal year.

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Raymond James cut 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. KeyCorp restated a "sector weight" rating on shares of nCino in a report on Monday, February 3rd. Needham & Company LLC lowered their target price on nCino from $45.00 to $28.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Scotiabank restated a "sector perform" rating and set a $19.00 price target (down from $35.00) on shares of nCino in a research note on Wednesday, April 2nd. Finally, Barclays cut their target price on nCino from $44.00 to $24.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. Ten investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $30.60.

About nCino

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.