nCino, Inc. (NASDAQ:NCNO) Stock Position Lifted by Invesco Ltd.

Invesco Ltd. increased its stake in nCino, Inc. (NASDAQ:NCNO - Free Report) by 3,006.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,602,497 shares of the company's stock after buying an additional 2,518,707 shares during the quarter. Invesco Ltd. owned about 2.25% of nCino worth $87,392,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of NCNO. Vanguard Group Inc. boosted its stake in shares of nCino by 9.6% during the 4th quarter. Vanguard Group Inc. now owns 10,830,773 shares of the company's stock worth $363,697,000 after purchasing an additional 948,282 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in nCino in the fourth quarter worth about $81,254,000. Conestoga Capital Advisors LLC purchased a new position in shares of nCino during the fourth quarter valued at approximately $70,256,000. Geode Capital Management LLC grew its stake in shares of nCino by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 1,541,143 shares of the company's stock valued at $51,769,000 after buying an additional 23,631 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of nCino by 13.8% in the third quarter. State Street Corp now owns 1,474,208 shares of the company's stock worth $46,570,000 after buying an additional 178,641 shares during the period. 94.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NCNO has been the subject of several research analyst reports. Stephens reiterated an "equal weight" rating and set a $38.00 target price on shares of nCino in a research report on Wednesday, April 2nd. Truist Financial lowered shares of nCino from a "buy" rating to a "hold" rating and decreased their price objective for the company from $44.00 to $21.00 in a report on Wednesday, April 2nd. UBS Group set a $40.00 price objective on shares of nCino in a research report on Friday, March 28th. KeyCorp reaffirmed a "sector weight" rating on shares of nCino in a research report 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 for the company 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's stock. According to MarketBeat, nCino currently has a consensus rating of "Hold" and an average price target of $30.60.

Insider Buying and Selling at nCino

In related news, CEO Sean Desmond sold 5,034 shares of the firm'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 value of $164,108.40. Following the sale, the chief executive officer now directly owns 306,477 shares of the company's stock, valued at approximately $9,991,150.20. This trade represents a 1.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Gregory Orenstein sold 5,148 shares of the business's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total transaction of $167,824.80. Following the sale, the chief financial officer now directly owns 271,744 shares of the company's stock, valued at $8,858,854.40. This represents a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 110,012 shares of company stock worth $2,694,676. 28.40% of the stock is owned by corporate insiders.

nCino Stock Performance

NASDAQ:NCNO traded up $0.03 during mid-day trading on Friday, reaching $23.95. 2,013,932 shares of the stock were exchanged, compared to its average volume of 1,375,168. 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. The company has a 50 day simple moving average of $28.38 and a 200-day simple moving average of $33.41. The stock has a market capitalization of $2.79 billion, a P/E ratio of -140.87, a P/E/G 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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.06). The firm had revenue of $141.37 million for the quarter, compared to analyst estimates of $140.81 million. nCino had a positive return on equity of 1.62% and a negative net margin of 3.46%. The company's revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.21 earnings per share. Analysts anticipate that nCino, Inc. will post 0.12 earnings per share for the current fiscal year.

nCino announced that its Board of Directors has approved a stock repurchase plan on Tuesday, April 1st that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 3.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its stock is undervalued.

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.