Ranger Investment Management L.P. Makes New $19.58 Million Investment in nCino, Inc. (NASDAQ:NCNO)

Ranger Investment Management L.P. bought a new stake in nCino, Inc. (NASDAQ:NCNO - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 583,017 shares of the company's stock, valued at approximately $19,578,000. Ranger Investment Management L.P. owned approximately 0.50% of nCino as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Invesco Ltd. boosted its holdings in shares of nCino by 3,006.0% during the 4th quarter. Invesco Ltd. now owns 2,602,497 shares of the company's stock valued at $87,392,000 after acquiring an additional 2,518,707 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new position in nCino in the fourth quarter valued at about $81,254,000. Conestoga Capital Advisors LLC bought a new stake in shares of nCino during the fourth quarter worth about $70,256,000. Raymond James Financial Inc. acquired a new position in shares of nCino in the fourth quarter valued at approximately $39,334,000. Finally, Vanguard Group Inc. raised its holdings in nCino by 9.6% in the 4th quarter. Vanguard Group Inc. now owns 10,830,773 shares of the company's stock valued at $363,697,000 after buying an additional 948,282 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors.

nCino Stock Performance

Shares of NCNO stock traded down $0.35 during trading on Monday, hitting $23.51. The company's stock had a trading volume of 300,315 shares, compared to its average volume of 1,362,843. 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 cap of $2.74 billion, a PE ratio of -138.29, a P/E/G ratio of 5.77 and a beta of 0.69. The business has a fifty day moving average of $29.08 and a 200-day moving average of $33.65. nCino, Inc. has a 52 week low of $18.75 and a 52 week high of $43.20.

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

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

Insider Buying and Selling

In other nCino news, VP Jeanette Sellers sold 2,501 shares of the firm's stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $21.51, for a total value of $53,796.51. Following the sale, the vice president now owns 19,099 shares of the company's stock, valued at $410,819.49. This trade represents a 11.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider April Rieger sold 7,881 shares of nCino stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $20.86, for a total transaction of $164,397.66. Following the sale, the insider now owns 138,072 shares of the company's stock, valued at approximately $2,880,181.92. The trade was a 5.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 110,012 shares of company stock valued at $2,694,676. Company insiders own 28.40% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Stephens restated an "equal weight" rating and issued a $38.00 price target on shares of nCino in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods lowered their target price on nCino from $40.00 to $28.00 and set an "outperform" rating for the company in a research report on Thursday, April 3rd. Raymond James cut their target price on nCino from $42.00 to $32.00 and set an "outperform" rating on the stock in a report on Wednesday, April 2nd. Truist Financial cut nCino from a "buy" rating to a "hold" rating and decreased their price target for the company from $44.00 to $21.00 in a research note on Wednesday, April 2nd. Finally, KeyCorp reaffirmed a "sector weight" rating on shares of nCino in a research note on Monday, February 3rd. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, nCino presently has a consensus rating of "Hold" and a consensus price target of $30.60.

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.