Advisory Research Inc. Acquires New Stake in nCino, Inc. (NASDAQ:NCNO)

Advisory Research Inc. acquired a new stake in shares of nCino, Inc. (NASDAQ:NCNO - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 69,477 shares of the company's stock, valued at approximately $2,333,000. Advisory Research Inc. owned about 0.06% of nCino at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Fifth Third Bancorp purchased a new position in nCino in the fourth quarter worth about $34,000. Hilltop National Bank bought a new stake in shares of nCino in the 4th quarter worth $37,000. Asset Management One Co. Ltd. raised its stake in shares of nCino by 16.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company's stock worth $78,000 after purchasing an additional 323 shares during the last quarter. PNC Financial Services Group Inc. raised its position in 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 last quarter. Finally, Sanctuary Advisors LLC bought a new stake in shares of nCino in the third quarter worth $189,000. 94.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NCNO has been the subject of several recent research reports. Bank of America boosted their price target on nCino from $22.00 to $26.00 and gave the company a "neutral" rating in a report on Thursday, April 10th. The Goldman Sachs Group downgraded nCino from a "buy" rating to a "neutral" rating and decreased their target price for the company from $42.00 to $24.00 in a research note on Wednesday, April 2nd. Piper Sandler dropped their target price on shares of nCino from $38.00 to $28.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Raymond James dropped their price objective on shares of nCino from $42.00 to $32.00 and set an "outperform" rating for the company in a report on Wednesday, April 2nd. Finally, William Blair lowered nCino from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 2nd. Ten equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $30.60.

Insider Activity at nCino

In related news, CEO Sean Desmond sold 5,034 shares of the company's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total transaction of $164,108.40. Following the completion of the sale, the chief executive officer now owns 306,477 shares of the company's stock, valued at approximately $9,991,150.20. This represents a 1.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider April Rieger sold 7,881 shares of the business's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total value of $164,397.66. Following the transaction, the insider now directly owns 138,072 shares in the company, 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. Over the last quarter, insiders have sold 110,012 shares of company stock worth $2,694,676. 28.40% of the stock is owned by company insiders.

nCino Stock Up 0.0 %

Shares of NCNO traded up $0.01 during trading hours on Tuesday, hitting $23.19. The company had a trading volume of 246,850 shares, compared to its average volume of 1,374,433. The company's fifty day moving average price is $27.98 and its two-hundred day moving average price is $33.34. nCino, Inc. has a one year low of $18.75 and a one year high of $43.20. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $2.70 billion, a PE ratio of -136.36, a price-to-earnings-growth ratio of 5.77 and a beta of 0.69.

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

nCino declared that its Board of Directors has authorized 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 reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is 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.