Eagle Asset Management Inc. Grows Position in nCino, Inc. (NASDAQ:NCNO)

Eagle Asset Management Inc. raised its holdings in shares of nCino, Inc. (NASDAQ:NCNO) by 50.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 647,776 shares of the company’s stock after buying an additional 216,100 shares during the quarter. Eagle Asset Management Inc.’s holdings in nCino were worth $20,463,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of NCNO. Bamco Inc. NY grew its holdings in shares of nCino by 83.7% in the first quarter. Bamco Inc. NY now owns 925,000 shares of the company’s stock valued at $34,576,000 after purchasing an additional 421,500 shares during the period. Simplicity Wealth LLC purchased a new stake in shares of nCino in the second quarter valued at about $3,530,000. Select Equity Group L.P. grew its holdings in shares of nCino by 182.0% in the second quarter. Select Equity Group L.P. now owns 25,436 shares of the company’s stock valued at $800,000 after purchasing an additional 16,416 shares during the period. Vanderbilt University grew its holdings in shares of nCino by 192.3% in the third quarter. Vanderbilt University now owns 140,571 shares of the company’s stock valued at $4,441,000 after purchasing an additional 92,481 shares during the period. Finally, Silvercrest Asset Management Group LLC grew its holdings in shares of nCino by 18.8% in the first quarter. Silvercrest Asset Management Group LLC now owns 454,249 shares of the company’s stock valued at $16,980,000 after purchasing an additional 71,744 shares during the period. Hedge funds and other institutional investors own 94.76% of the company’s stock.

nCino Trading Up 2.4 %

Shares of NCNO opened at $41.42 on Friday. nCino, Inc. has a 1 year low of $27.47 and a 1 year high of $43.20. 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’s 50-day simple moving average is $35.70 and its 200-day simple moving average is $32.97.

nCino (NASDAQ:NCNO) last issued its earnings results on Tuesday, August 27th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.01. The firm had revenue of $132.40 million for the quarter, compared to analysts’ expectations of $131.06 million. nCino had a negative net margin of 5.78% and a positive return on equity of 1.06%. The firm’s revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.02) earnings per share. On average, research analysts forecast that nCino, Inc. will post 0.05 EPS for the current year.

Analyst Ratings Changes

NCNO has been the subject of a number of analyst reports. Truist Financial reissued a “buy” rating and issued a $44.00 price objective (up previously from $37.00) on shares of nCino in a report on Monday, October 21st. JMP Securities reaffirmed a “market outperform” rating and issued a $43.00 target price on shares of nCino in a research report on Wednesday, August 28th. Macquarie reaffirmed an “outperform” rating and issued a $40.00 target price on shares of nCino in a research report on Wednesday, October 23rd. The Goldman Sachs Group raised shares of nCino from a “neutral” rating to a “buy” rating and upped their target price for the company from $34.00 to $42.00 in a research report on Wednesday, August 14th. Finally, Raymond James raised shares of nCino from a “market perform” rating to an “outperform” rating and set a $38.00 target price on the stock in a research report on Tuesday, September 3rd. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, nCino has a consensus rating of “Moderate Buy” and a consensus price target of $38.82.

Insider Activity at nCino

In other nCino news, insider Sean Desmond sold 30,000 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $34.77, for a total value of $1,043,100.00. Following the transaction, the insider now directly owns 341,511 shares in the company, valued at $11,874,337.47. This represents a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Gregory Orenstein sold 3,885 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $35.05, for a total transaction of $136,169.25. Following the completion of the transaction, the chief financial officer now owns 276,892 shares in the company, valued at $9,705,064.60. This represents a 1.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,235,582 shares of company stock valued at $117,618,559 over the last 90 days. 28.40% of the stock is owned by corporate insiders.

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.