Janus Henderson Group PLC Increases Stake in nCino Inc. $NCNO

Janus Henderson Group PLC raised its stake in nCino Inc. (NASDAQ:NCNO) by 4.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 817,076 shares of the company’s stock after acquiring an additional 38,228 shares during the period. Janus Henderson Group PLC’s holdings in nCino were worth $12,239,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Spyglass Capital Management LLC grew its holdings in shares of nCino by 6.0% in the first quarter. Spyglass Capital Management LLC now owns 3,085,237 shares of the company’s stock worth $46,217,000 after purchasing an additional 175,357 shares during the last quarter. Amundi purchased a new position in shares of nCino in the first quarter worth $4,831,000. EverSource Wealth Advisors LLC raised its holdings in nCino by 5,250.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,317 shares of the company’s stock valued at $50,000 after buying an additional 3,255 shares during the last quarter. California State Teachers Retirement System raised its holdings in nCino by 32.0% during the 1st quarter. California State Teachers Retirement System now owns 129,756 shares of the company’s stock valued at $1,944,000 after buying an additional 31,481 shares during the last quarter. Finally, Readystate Asset Management LP purchased a new stake in nCino during the 1st quarter valued at $4,301,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Insider Buying and Selling

In other news, CEO Sean Desmond sold 8,064 shares of the firm’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $17.47, for a total value of $140,878.08. Following the completion of the sale, the chief executive officer directly owned 1,262,492 shares of the company’s stock, valued at approximately $22,055,735.24. This trade represents a 0.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group decreased their price objective on shares of nCino from $24.00 to $21.00 and set a “neutral” rating on the stock in a research report on Thursday, May 14th. Citizens Jmp dropped their target price on shares of nCino from $32.00 to $23.00 and set a “market outperform” rating for the company in a report on Monday, May 18th. Weiss Ratings raised nCino from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, May 28th. Citigroup reissued a “market outperform” rating on shares of nCino in a research note on Monday, June 22nd. Finally, Keefe, Bruyette & Woods restated an “outperform” rating on shares of nCino in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $25.29.

nCino Stock Performance

NASDAQ:NCNO opened at $19.50 on Wednesday. The stock has a market cap of $2.14 billion, a P/E ratio of 162.50 and a beta of 0.66. The firm’s fifty day simple moving average is $16.56 and its 200 day simple moving average is $17.15. nCino Inc. has a twelve month low of $13.80 and a twelve month high of $33.92. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.31.

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.