164,900 Shares in nCino Inc. $NCNO Acquired by Bank of Nova Scotia

Bank of Nova Scotia purchased a new stake in shares of nCino Inc. (NASDAQ:NCNO) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 164,900 shares of the company’s stock, valued at approximately $2,696,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NCNO. BlackRock Inc. bought a new stake in nCino during the second quarter valued at about $147,492,000. Senvest Management LLC grew its holdings in shares of nCino by 30.2% in the first quarter. Senvest Management LLC now owns 5,308,468 shares of the company’s stock valued at $79,521,000 after purchasing an additional 1,230,192 shares in the last quarter. Hawk Ridge Capital Management LP increased its holdings in shares of nCino by 625.4% in the 1st quarter. Hawk Ridge Capital Management LP now owns 4,481,810 shares of the company’s stock worth $67,138,000 after buying an additional 3,864,010 shares during the last quarter. Spyglass Capital Management LLC lifted its stake in shares of nCino by 6.0% in the 1st quarter. Spyglass Capital Management LLC now owns 3,085,237 shares of the company’s stock valued at $46,217,000 after purchasing an additional 175,357 shares during the last quarter. Finally, Conestoga Capital Advisors LLC lifted its position in nCino by 25.7% in the fourth quarter. Conestoga Capital Advisors LLC now owns 2,861,024 shares of the company’s stock worth $73,357,000 after buying an additional 585,786 shares during the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider April Rieger sold 7,852 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $19.22, for a total transaction of $150,915.44. Following the sale, the insider directly owned 375,749 shares of the company’s stock, valued at $7,221,895.78. This represents a 2.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jeanette Sellers sold 1,536 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $19.53, for a total value of $29,998.08. Following the sale, the senior vice president owned 48,453 shares in the company, valued at $946,287.09. This trade represents a 3.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 83,350 shares of company stock valued at $1,568,144. Insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

NCNO has been the subject of several research analyst reports. The Goldman Sachs Group decreased their target price on nCino from $24.00 to $21.00 and set a “neutral” rating for the company in a research report on Thursday, May 14th. BTIG Research reissued a “neutral” rating on shares of nCino in a research report on Wednesday. Citizens Jmp raised their price objective on nCino from $23.00 to $25.00 and gave the stock a “market outperform” rating in a research report on Wednesday. Citigroup reissued a “market outperform” rating on shares of nCino in a report on Wednesday. Finally, Keefe, Bruyette & Woods upped their price objective on shares of nCino from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $24.38.

nCino Price Performance

NASDAQ:NCNO opened at $21.51 on Thursday. The firm’s fifty day moving average is $18.02 and its two-hundred day moving average is $16.89. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market cap of $2.36 billion, a price-to-earnings ratio of 71.70 and a beta of 0.66. nCino Inc. has a one year low of $13.80 and a one year high of $33.92.

nCino News Summary

Here are the key news stories impacting nCino this week:

• Positive Sentiment: Quarterly results exceeded key estimates. nCino reported approximately $161 million in revenue, up 8.2% year over year and above consensus expectations. Adjusted earnings were reported at $0.30 per share, ahead of the $0.28 consensus estimate, although some reports cited GAAP EPS of $0.05. nCino Reports Second Quarter Fiscal Year 2027 Financial Results
• Positive Sentiment: Management authorized an additional $100 million stock-repurchase program, potentially supporting per-share value and signaling confidence in nCino’s financial position. nCino Reports Second Quarter Fiscal Year 2027 Financial Results
• Positive Sentiment: AI adoption is gaining traction. CEO Sean Desmond said early customers have consumed their initial credits for nCino’s AI agents and returned to purchase more, suggesting potential for recurring expansion revenue. Banks Double Down on nCino AI Agents After Using Initial Credits
• Neutral Sentiment: Analyst sentiment was mixed. Citizens JMP raised its target to $25 and maintained an outperform rating, while Needham reaffirmed Buy with a $25 target. BTIG reiterated Neutral, and Truist raised its target to $20 but kept a Hold rating.
• Negative Sentiment: The earnings reaction was pressured by conflicting EPS figures and valuation concerns. Reports citing $0.05 GAAP EPS showed a miss versus consensus, while the adjusted-EPS beat was stronger. With a high price-to-earnings ratio, investors may demand continued rapid growth.
• Negative Sentiment: Guidance was broadly in line rather than sharply above expectations. Fiscal 2027 revenue guidance of $644 million-$647 million was close to the $644.5 million consensus, while third-quarter guidance of $161.3 million-$163.3 million also bracketed estimates. nCino Stock Drops Despite Strong Q2 Earnings Beat

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.