Bank of Montreal Can Acquires Shares of 41,551 nCino, Inc. (NASDAQ:NCNO)

Bank of Montreal Can acquired a new position in shares of nCino, Inc. (NASDAQ:NCNO - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 41,551 shares of the company's stock, valued at approximately $1,313,000.

Other institutional investors have also recently made changes to their positions in the company. Magnetar Financial LLC purchased a new position in nCino during the second quarter worth about $284,000. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of nCino by 8.9% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,782,689 shares of the company's stock worth $244,766,000 after buying an additional 635,064 shares in the last quarter. Summit Trail Advisors LLC boosted its stake in shares of nCino by 471.0% in the 2nd quarter. Summit Trail Advisors LLC now owns 56,845 shares of the company's stock worth $1,788,000 after buying an additional 46,890 shares during the last quarter. Sei Investments Co. grew its holdings in shares of nCino by 50.0% in the second quarter. Sei Investments Co. now owns 271,087 shares of the company's stock valued at $8,526,000 after acquiring an additional 90,376 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in shares of nCino in the second quarter valued at approximately $179,000. Institutional investors own 94.76% of the company's stock.

nCino Stock Performance

Shares of NASDAQ:NCNO traded up $0.08 during trading on Friday, hitting $30.97. 517,524 shares of the company were exchanged, compared to its average volume of 1,038,659. nCino, Inc. has a 52-week low of $27.13 and a 52-week high of $37.48. The stock has a 50 day moving average of $31.45 and a 200 day moving average of $31.51. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market cap of $3.56 billion, a PE ratio of -99.90, a P/E/G ratio of 23.49 and a beta of 0.59.

nCino (NASDAQ:NCNO - Get Free Report) last issued its quarterly earnings data on Tuesday, August 27th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.13 by $0.01. The business had revenue of $132.40 million for the quarter, compared to analysts' expectations of $131.06 million. nCino had a positive return on equity of 1.06% and a negative net margin of 5.78%. The firm's quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.02) EPS. As a group, equities research analysts predict that nCino, Inc. will post 0.06 EPS for the current year.

Insider Buying and Selling

In other nCino news, Director Jeff Horing sold 800,002 shares of the firm's stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $33.16, for a total value of $26,528,066.32. Following the completion of the transaction, the director now directly owns 16,649,942 shares of the company's stock, valued at $552,112,076.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider April Rieger sold 8,856 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $31.23, for a total value of $276,572.88. Following the transaction, the insider now owns 165,791 shares of the company's stock, valued at $5,177,652.93. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeff Horing sold 800,002 shares of the company's stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $33.16, for a total transaction of $26,528,066.32. Following the completion of the transaction, the director now owns 16,649,942 shares of the company's stock, valued at $552,112,076.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,271,826 shares of company stock valued at $137,563,353. Company insiders own 28.40% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NCNO. Piper Sandler reissued an "overweight" rating and issued a $38.00 price objective on shares of nCino in a research report on Wednesday, August 28th. JMP Securities restated a "market outperform" rating and set a $43.00 price target on shares of nCino in a research report on Wednesday, August 28th. Raymond James raised shares of nCino from a "market perform" rating to an "outperform" rating and set a $38.00 price objective on the stock in a research report on Tuesday, September 3rd. William Blair reissued an "outperform" rating on shares of nCino in a research report on Wednesday, August 28th. Finally, Macquarie reaffirmed an "outperform" rating and issued a $40.00 price target on shares of nCino in a report on Wednesday, August 28th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, nCino currently has a consensus rating of "Moderate Buy" and an average price target of $38.18.

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.