nCino (NASDAQ:NCNO) Given “Equal Weight” Rating at Stephens

Stephens reiterated their equal weight rating on shares of nCino (NASDAQ:NCNO) in a research report report published on Wednesday,Benzinga reports. Stephens currently has a $38.00 price target on the stock.

Several other research firms have also recently issued reports on NCNO. Keefe, Bruyette & Woods decreased their price target on nCino from $44.00 to $40.00 and set an “outperform” rating for the company in a research note on Friday, March 28th. Barclays decreased their target price on shares of nCino from $44.00 to $24.00 and set an “overweight” rating for the company in a research report on Wednesday. Macquarie boosted their price target on shares of nCino from $40.00 to $43.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Truist Financial cut shares of nCino from a “buy” rating to a “hold” rating and decreased their price objective for the company from $44.00 to $21.00 in a report on Wednesday. Finally, Robert W. Baird dropped their target price on nCino from $43.00 to $42.00 and set a “neutral” rating on the stock in a report on Thursday, December 5th. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, nCino currently has an average rating of “Hold” and a consensus price target of $31.40.

nCino Stock Down 19.7 %

NCNO stock opened at $22.59 on Wednesday. The stock has a market cap of $2.62 billion, a PE ratio of -132.87, a price-to-earnings-growth ratio of 5.77 and a beta of 0.66. The firm’s 50-day simple moving average is $31.02 and its 200 day simple moving average is $34.12. nCino has a fifty-two week low of $18.75 and a fifty-two week high of $43.20. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20.

nCino (NASDAQ:NCNO) last announced its quarterly earnings results on Tuesday, April 1st. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.06). The firm had revenue of $141.37 million during the quarter, compared to analyst estimates of $140.81 million. nCino had a negative net margin of 3.46% and a positive return on equity of 1.62%. nCino’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.21 EPS. As a group, sell-side analysts predict that nCino will post 0.12 EPS for the current year.

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

Insider Activity

In other news, insider April Rieger sold 4,325 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total transaction of $140,995.00. Following the sale, the insider now owns 145,953 shares in the company, valued at $4,758,067.80. The trade was a 2.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeff Horing sold 54,876 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $35.00, for a total transaction of $1,920,660.00. Following the completion of the sale, the director now owns 4,458,591 shares of the company’s stock, valued at approximately $156,050,685. This trade represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 86,877 shares of company stock valued at $2,963,893 over the last three months. Insiders own 28.40% of the company’s stock.

Institutional Trading of nCino

Several large investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System boosted its position in shares of nCino by 5.4% in the fourth quarter. California State Teachers Retirement System now owns 85,835 shares of the company’s stock worth $2,882,000 after buying an additional 4,417 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new stake in nCino in the 4th quarter worth about $227,000. Public Employees Retirement System of Ohio boosted its position in nCino by 30.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 160,216 shares of the company’s stock worth $5,380,000 after acquiring an additional 37,260 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in nCino by 67.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 242,090 shares of the company’s stock worth $8,129,000 after acquiring an additional 97,333 shares during the period. Finally, Woodline Partners LP purchased a new position in nCino during the 4th quarter valued at about $216,000. 94.76% of the stock is owned by institutional investors and hedge funds.

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.