Cramer Rosenthal Mcglynn LLC Raises Holdings in nCino Inc. $NCNO

Cramer Rosenthal Mcglynn LLC lifted its position in nCino Inc. (NASDAQ:NCNO) by 19.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 375,310 shares of the company’s stock after acquiring an additional 62,142 shares during the quarter. Cramer Rosenthal Mcglynn LLC’s holdings in nCino were worth $10,175,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its holdings in nCino by 186.4% in the third quarter. Farther Finance Advisors LLC now owns 948 shares of the company’s stock valued at $26,000 after buying an additional 617 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in nCino by 68.5% in the 2nd quarter. Advisors Asset Management Inc. now owns 1,127 shares of the company’s stock worth $32,000 after purchasing an additional 458 shares during the period. AlphaQuest LLC boosted its position in nCino by 5,022.2% during the third quarter. AlphaQuest LLC now owns 1,383 shares of the company’s stock worth $37,000 after purchasing an additional 1,356 shares in the last quarter. Fifth Third Bancorp grew its holdings in nCino by 105.3% in the third quarter. Fifth Third Bancorp now owns 1,915 shares of the company’s stock valued at $52,000 after purchasing an additional 982 shares during the period. Finally, Bessemer Group Inc. increased its position in shares of nCino by 1,536.6% in the third quarter. Bessemer Group Inc. now owns 3,355 shares of the company’s stock valued at $91,000 after buying an additional 3,150 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

nCino Stock Performance

nCino stock opened at $16.82 on Friday. The firm has a 50 day simple moving average of $20.84 and a 200-day simple moving average of $24.76. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of -93.44, a price-to-earnings-growth ratio of 3.23 and a beta of 0.59. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.01 and a quick ratio of 1.01. nCino Inc. has a 1-year low of $13.80 and a 1-year high of $33.92.

nCino (NASDAQ:NCNO) last posted its earnings results on Wednesday, December 3rd. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.11. The company had revenue of $152.16 million for the quarter, compared to the consensus estimate of $147.31 million. nCino had a positive return on equity of 2.28% and a negative net margin of 3.71%.The company’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.21 earnings per share. On average, analysts expect that nCino Inc. will post 0.12 EPS for the current year.

nCino announced that its Board of Directors has initiated a stock buyback program on Monday, December 8th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to buy up to 3.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other nCino news, insider April Rieger sold 8,078 shares of the stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $18.68, for a total transaction of $150,897.04. Following the completion of the transaction, the insider owned 221,696 shares of the company’s stock, valued at $4,141,281.28. This trade represents a 3.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Gregory Orenstein sold 10,562 shares of nCino stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $18.68, for a total transaction of $197,298.16. Following the sale, the chief financial officer owned 451,184 shares of the company’s stock, valued at approximately $8,428,117.12. This represents a 2.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 71,310 shares of company stock valued at $1,382,650 over the last three months. Company insiders own 5.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on NCNO shares. Truist Financial reduced their price objective on shares of nCino from $32.00 to $27.00 and set a “hold” rating for the company in a research report on Thursday, December 4th. Barclays lowered their price objective on nCino from $37.00 to $34.00 and set an “overweight” rating on the stock in a report on Monday, January 5th. UBS Group reissued a “buy” rating and set a $36.00 target price on shares of nCino in a report on Tuesday, December 9th. Zacks Research downgraded nCino from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Finally, Needham & Company LLC restated a “buy” rating and issued a $38.00 price objective on shares of nCino in a report on Thursday, December 4th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, nCino presently has an average rating of “Moderate Buy” and a consensus target price of $32.33.

nCino Profile

nCino, Inc provides a cloud-based banking operating system designed to modernize and streamline processes for financial institutions. Built on a software-as-a-service (SaaS) model, the nCino Bank Operating System integrates key banking functions into a unified platform, enabling banks and credit unions to enhance efficiency, reduce risk and improve customer experiences.

Founded in 2012 as a spinoff from Live Oak Bank, nCino launched its flagship offering to address the needs of commercial and retail lenders seeking to replace legacy systems.