nCino, Inc. (NASDAQ:NCNO) Shares Purchased by Invesco Ltd.

Invesco Ltd. boosted its stake in shares of nCino, Inc. (NASDAQ:NCNO) by 3,006.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,602,497 shares of the company’s stock after buying an additional 2,518,707 shares during the period. Invesco Ltd. owned 2.25% of nCino worth $87,392,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Fifth Third Bancorp acquired a new position in shares of nCino during the 4th quarter valued at about $34,000. Hilltop National Bank acquired a new position in nCino in the 4th quarter valued at about $37,000. Asset Management One Co. Ltd. grew its stake in shares of nCino by 16.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company’s stock valued at $78,000 after buying an additional 323 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of nCino by 32.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,536 shares of the company’s stock worth $152,000 after buying an additional 1,122 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in shares of nCino during the 3rd quarter valued at approximately $189,000. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on NCNO. Barclays lowered their price objective on nCino from $44.00 to $24.00 and set an “overweight” rating for the company in a research report on Wednesday, April 2nd. Scotiabank reissued a “sector perform” rating and set a $19.00 price objective (down from $35.00) on shares of nCino in a research report on Wednesday, April 2nd. Truist Financial cut shares of nCino from a “buy” rating to a “hold” rating and decreased their target price for the company from $44.00 to $21.00 in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods dropped their price target on shares of nCino from $40.00 to $28.00 and set an “outperform” rating for the company in a research report on Thursday, April 3rd. Finally, The Goldman Sachs Group lowered shares of nCino from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $42.00 to $24.00 in a report on Wednesday, April 2nd. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, nCino currently has an average rating of “Hold” and a consensus target price of $30.60.

Insider Transactions at nCino

In other nCino news, Director Pierre Naude sold 31,123 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total value of $649,225.78. Following the sale, the director now directly owns 1,066,090 shares in the company, valued at $22,238,637.40. This trade represents a 2.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider April Rieger sold 4,325 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total value of $140,995.00. Following the transaction, the insider now directly owns 145,953 shares of the company’s stock, valued at approximately $4,758,067.80. This represents a 2.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 110,012 shares of company stock valued at $2,694,676. Insiders own 28.40% of the company’s stock.

nCino Price Performance

Shares of NASDAQ NCNO opened at $23.86 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. The company has a market cap of $2.78 billion, a price-to-earnings ratio of -140.34, a price-to-earnings-growth ratio of 5.77 and a beta of 0.69. The stock’s 50-day moving average is $29.08 and its two-hundred day moving average is $33.65. nCino, Inc. has a 1-year low of $18.75 and a 1-year high of $43.20.

nCino (NASDAQ:NCNO) last released its earnings results on Tuesday, April 1st. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.06). nCino had a positive return on equity of 1.62% and a negative net margin of 3.46%. The firm had revenue of $141.37 million for the quarter, compared to analysts’ expectations of $140.81 million. During the same quarter in the previous year, the company posted $0.21 earnings per share. The firm’s quarterly revenue was up 14.3% on a year-over-year basis. Analysts forecast that nCino, Inc. will post 0.12 EPS for the current fiscal year.

nCino declared that its board has approved a share buyback plan on Tuesday, April 1st that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

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.