Strs Ohio Makes New $990,000 Investment in nCino, Inc. (NASDAQ:NCNO)

Strs Ohio acquired a new position in shares of nCino, Inc. (NASDAQ:NCNO) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 29,450 shares of the company’s stock, valued at approximately $990,000.

A number of other large investors have also modified their holdings of the business. Fred Alger Management LLC raised its stake in shares of nCino by 6.4% during the 3rd quarter. Fred Alger Management LLC now owns 1,339,050 shares of the company’s stock worth $42,582,000 after buying an additional 80,556 shares in the last quarter. New York State Common Retirement Fund raised its stake in shares of nCino by 2.6% during the 3rd quarter. New York State Common Retirement Fund now owns 741,831 shares of the company’s stock worth $23,590,000 after buying an additional 19,060 shares in the last quarter. American Century Companies Inc. raised its stake in shares of nCino by 3.7% during the 3rd quarter. American Century Companies Inc. now owns 615,021 shares of the company’s stock worth $19,558,000 after buying an additional 22,015 shares in the last quarter. Clearbridge Investments LLC purchased a new position in shares of nCino during the 3rd quarter worth approximately $17,398,000. Finally, Untitled Investments LP increased its stake in nCino by 11.8% in the 3rd quarter. Untitled Investments LP now owns 476,318 shares of the company’s stock valued at $15,147,000 after purchasing an additional 50,383 shares in the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at nCino

In related news, Director Insight Holdings Group, Llc sold 1,031,659 shares of nCino stock in a transaction on Monday, April 1st. The stock was sold at an average price of $35.20, for a total value of $36,314,396.80. Following the transaction, the director now owns 545,039 shares in the company, valued at $19,185,372.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other nCino news, insider April Rieger sold 1,460 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $30.66, for a total transaction of $44,763.60. Following the transaction, the insider now owns 149,078 shares in the company, valued at $4,570,731.48. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Insight Holdings Group, Llc sold 1,031,659 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $35.20, for a total value of $36,314,396.80. Following the transaction, the director now owns 545,039 shares in the company, valued at approximately $19,185,372.80. The disclosure for this sale can be found here. Insiders have sold 1,105,300 shares of company stock worth $38,835,333 over the last quarter. 38.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. William Blair reaffirmed an “outperform” rating on shares of nCino in a research note on Wednesday, March 27th. Piper Sandler reaffirmed an “overweight” rating and issued a $42.00 price objective on shares of nCino in a research note on Wednesday, March 27th. Keefe, Bruyette & Woods assumed coverage on nCino in a research note on Tuesday, April 9th. They issued an “outperform” rating and a $41.00 price objective for the company. Needham & Company LLC raised their price objective on nCino from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, March 27th. Finally, Robert W. Baird raised their price objective on nCino from $34.00 to $36.00 and gave the company a “neutral” rating in a research note on Wednesday, March 27th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, nCino presently has a consensus rating of “Moderate Buy” and an average price target of $35.91.

nCino Stock Performance

nCino stock opened at $30.16 on Wednesday. nCino, Inc. has a fifty-two week low of $21.26 and a fifty-two week high of $37.48. The stock has a fifty day moving average of $31.17 and a two-hundred day moving average of $30.95. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.17 and a current ratio of 1.17. The company has a market capitalization of $3.44 billion, a price-to-earnings ratio of -79.37, a PEG ratio of 24.39 and a beta of 0.48.

nCino (NASDAQ:NCNO) last posted its quarterly earnings data on Tuesday, March 26th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.08. nCino had a positive return on equity of 0.31% and a negative net margin of 8.89%. The business had revenue of $123.69 million for the quarter, compared to analysts’ expectations of $124.58 million. On average, analysts anticipate that nCino, Inc. will post 0.05 EPS for the current fiscal 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.