Conestoga Capital Advisors LLC Invests $70.26 Million in nCino, Inc. (NASDAQ:NCNO)

Conestoga Capital Advisors LLC purchased a new stake in nCino, Inc. (NASDAQ:NCNO) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 2,092,195 shares of the company’s stock, valued at approximately $70,256,000. Conestoga Capital Advisors LLC owned 1.81% of nCino as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Long Path Partners LP increased its stake in nCino by 43.7% during the 3rd quarter. Long Path Partners LP now owns 3,721,406 shares of the company’s stock worth $117,559,000 after buying an additional 1,131,271 shares in the last quarter. ShawSpring Partners LLC lifted its holdings in nCino by 115.9% in the 3rd quarter. ShawSpring Partners LLC now owns 2,653,687 shares of the company’s stock valued at $83,830,000 after purchasing an additional 1,424,349 shares in the last quarter. ArrowMark Colorado Holdings LLC grew its holdings in shares of nCino by 65.1% during the third quarter. ArrowMark Colorado Holdings LLC now owns 2,100,062 shares of the company’s stock worth $66,341,000 after buying an additional 828,124 shares in the last quarter. Brown Brothers Harriman & Co. raised its position in shares of nCino by 55.4% in the third quarter. Brown Brothers Harriman & Co. now owns 2,065,880 shares of the company’s stock valued at $65,261,000 after buying an additional 736,627 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of nCino by 26.1% in the third quarter. Geode Capital Management LLC now owns 1,517,512 shares of the company’s stock worth $47,951,000 after buying an additional 313,637 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on NCNO shares. Stephens increased their price objective on shares of nCino from $35.00 to $38.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Morgan Stanley reduced their price objective on nCino from $41.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Friday, December 6th. Robert W. Baird dropped their target price on nCino from $43.00 to $42.00 and set a “neutral” rating for the company in a report on Thursday, December 5th. Macquarie boosted their price target on shares of nCino from $40.00 to $43.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Finally, Scotiabank increased their price objective on nCino from $36.00 to $46.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, December 4th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, nCino has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

Insider Transactions at nCino

In related news, Director Jeff Horing sold 4,474,158 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $35.75, for a total value of $159,951,148.50. Following the transaction, the director now directly owns 4,513,467 shares of the company’s stock, valued at $161,356,445.25. This trade represents a 49.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last three months, insiders sold 6,238,084 shares of company stock valued at $224,795,630. Insiders own 28.40% of the company’s stock.

nCino Price Performance

NCNO opened at $34.01 on Monday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95. nCino, Inc. has a 12 month low of $28.09 and a 12 month high of $43.20. The business has a fifty day moving average price of $35.58 and a 200 day moving average price of $34.55.

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.