Dynamic Technology Lab Private Ltd Takes Position in nCino, Inc. (NASDAQ:NCNO)

Dynamic Technology Lab Private Ltd bought a new position in nCino, Inc. (NASDAQ:NCNO) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 26,377 shares of the company’s stock, valued at approximately $886,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NCNO. Massachusetts Financial Services Co. MA purchased a new stake in shares of nCino during the 4th quarter worth approximately $81,254,000. Conestoga Capital Advisors LLC purchased a new stake in nCino during the fourth quarter valued at $70,256,000. Raymond James Financial Inc. bought a new position in nCino during the fourth quarter valued at $39,334,000. Vanguard Group Inc. grew its stake in shares of nCino by 9.6% in the 4th quarter. Vanguard Group Inc. now owns 10,830,773 shares of the company’s stock worth $363,697,000 after buying an additional 948,282 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of nCino in the 4th quarter worth about $29,268,000. 94.76% of the stock is owned by institutional investors.

nCino Trading Down 1.2 %

NCNO opened at $21.45 on Monday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20. The stock’s fifty day moving average is $30.58 and its two-hundred day moving average is $34.03. The company has a market capitalization of $2.48 billion, a P/E ratio of -126.17, a PEG ratio of 5.77 and a beta of 0.69. nCino, Inc. has a 52 week low of $18.75 and a 52 week high of $43.20.

nCino (NASDAQ:NCNO) last posted its quarterly earnings results on Tuesday, April 1st. The company reported $0.12 earnings per share (EPS) 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 the consensus estimate of $140.81 million. During the same period in the previous year, the company posted $0.21 EPS. nCino’s quarterly revenue was up 14.3% compared to the same quarter last year. Analysts forecast that nCino, Inc. will post 0.12 earnings per share for the current year.

nCino declared that its Board of Directors has initiated a share repurchase program on Tuesday, April 1st that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts recently commented on the company. Bank of America lowered nCino from a “buy” rating to a “neutral” rating and set a $22.00 price target for the company. in a research report on Wednesday, April 2nd. Truist Financial lowered nCino from a “buy” rating to a “hold” rating and decreased their price target for the company from $44.00 to $21.00 in a report on Wednesday, April 2nd. Stephens reaffirmed an “equal weight” rating and set a $38.00 price objective on shares of nCino in a research note on Wednesday, April 2nd. William Blair cut shares of nCino from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 2nd. Finally, Raymond James lowered their target price on shares of nCino from $42.00 to $32.00 and set an “outperform” rating for the company in a report on Wednesday, April 2nd. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $30.33.

Insider Activity

In other nCino news, insider April Rieger sold 4,325 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was 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 in the company, valued at $4,758,067.80. This represents a 2.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sean Desmond sold 5,034 shares of nCino stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total value of $164,108.40. Following the completion of the transaction, the chief executive officer now owns 306,477 shares in the company, valued at $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. Over the last ninety days, insiders have sold 91,988 shares of company stock worth $2,294,561. Corporate insiders own 28.40% of the company’s stock.

nCino 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.