Sepio Capital LP Purchases 18,135 Shares of nCino, Inc. (NASDAQ:NCNO)

Sepio Capital LP raised its position in nCino, Inc. (NASDAQ:NCNO) by 42.5% in the 4th quarter, Holdings Channel reports. The firm owned 60,797 shares of the company’s stock after buying an additional 18,135 shares during the period. Sepio Capital LP’s holdings in nCino were worth $2,042,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several research analysts have recently weighed in on NCNO shares. Morgan Stanley reduced their price target on shares of nCino from $39.00 to $23.00 and set an “equal weight” rating for the company in a report on Wednesday. William Blair cut nCino from an “outperform” rating to a “market perform” rating in a report on Wednesday. Scotiabank restated a “sector perform” rating and issued a $19.00 price target (down from $35.00) on shares of nCino in a report on Wednesday. Barclays decreased their price objective on nCino from $44.00 to $24.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Needham & Company LLC dropped their target price on nCino from $45.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $30.33.

nCino Stock Performance

Shares of NCNO opened at $21.45 on Friday. The company has a market cap of $2.48 billion, a PE ratio of -126.17, a price-to-earnings-growth ratio of 5.77 and a beta of 0.69. The firm has a 50-day moving average of $30.58 and a 200-day moving average of $34.00. nCino, Inc. has a one year low of $18.75 and a one year high of $43.20. 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 (NASDAQ:NCNO) last announced its quarterly 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). The business had revenue of $141.37 million for the quarter, compared to analyst estimates of $140.81 million. nCino had a positive return on equity of 1.62% and a negative net margin of 3.46%. nCino’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period last year, the firm earned $0.21 EPS. As a group, equities analysts forecast that nCino, Inc. will post 0.12 earnings per share for the current year.

nCino declared that its Board of Directors has authorized a share buyback program on Tuesday, April 1st that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to buy up to 3.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity at nCino

In related news, insider April Rieger sold 4,325 shares of nCino stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total transaction of $140,995.00. Following the completion of the sale, the insider now owns 145,953 shares of the company’s stock, valued at approximately $4,758,067.80. The trade was a 2.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sean Desmond sold 5,034 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total transaction of $164,108.40. Following the completion of the transaction, the chief executive officer now directly owns 306,477 shares in the company, valued at approximately $9,991,150.20. This represents a 1.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 146,864 shares of company stock worth $4,215,221. Company insiders own 28.40% of the company’s stock.

About nCino

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.