Raymond James Financial Services Advisors Inc. Invests $228,000 in nCino, Inc. (NASDAQ:NCNO)

Raymond James Financial Services Advisors Inc. acquired a new position in nCino, Inc. (NASDAQ:NCNO) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 6,790 shares of the company’s stock, valued at approximately $228,000.

Several other hedge funds also recently made changes to their positions in the business. PNC Financial Services Group Inc. increased its position in shares of nCino by 643.3% in the third quarter. PNC Financial Services Group Inc. now owns 3,538 shares of the company’s stock worth $113,000 after acquiring an additional 3,062 shares in the last quarter. Victory Capital Management Inc. purchased a new position in shares of nCino in the third quarter worth approximately $213,000. Premier Fund Managers Ltd purchased a new position in shares of nCino in the third quarter worth approximately $256,000. Oppenheimer Asset Management Inc. purchased a new position in shares of nCino in the third quarter worth approximately $272,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of nCino by 27.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,704 shares of the company’s stock worth $309,000 after acquiring an additional 2,118 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NCNO. Robert W. Baird boosted their price objective on shares of nCino from $34.00 to $36.00 and gave the company a “neutral” rating in a research report on Wednesday, March 27th. Morgan Stanley boosted their price objective on shares of nCino from $27.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 27th. Keefe, Bruyette & Woods began coverage on shares of nCino in a research report on Tuesday, April 9th. They set an “outperform” rating and a $41.00 price objective on the stock. William Blair reaffirmed an “outperform” rating on shares of nCino in a research report on Wednesday, March 27th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $42.00 price objective on shares of nCino in a research report on Wednesday, March 27th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $35.91.

nCino Price Performance

Shares of nCino stock opened at $30.17 on Thursday. The stock has a market capitalization of $3.45 billion, a price-to-earnings ratio of -79.39, a PEG ratio of 24.58 and a beta of 0.49. nCino, Inc. has a 1-year low of $21.26 and a 1-year high of $37.48. The firm has a fifty day simple moving average of $31.16 and a 200-day simple moving average of $30.95. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.05.

nCino (NASDAQ:NCNO) last released its earnings results on Tuesday, March 26th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.08. The firm had revenue of $123.69 million during the quarter, compared to analysts’ expectations of $124.58 million. nCino had a negative net margin of 8.89% and a positive return on equity of 0.31%. On average, sell-side analysts expect that nCino, Inc. will post 0.05 earnings per share for the current year.

Insider Buying and Selling at nCino

In other news, insider April Rieger sold 1,460 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $30.66, for a total value of $44,763.60. Following the sale, the insider now owns 149,078 shares of the company’s stock, valued at approximately $4,570,731.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Gregory Orenstein sold 1,814 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $31.22, for a total transaction of $56,633.08. Following the transaction, the chief financial officer now owns 220,715 shares in the company, valued at approximately $6,890,722.30. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider April Rieger sold 1,460 shares of the company’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $30.66, for a total transaction of $44,763.60. Following the transaction, the insider now owns 149,078 shares in the company, valued at approximately $4,570,731.48. The disclosure for this sale can be found here. Insiders have sold 1,105,300 shares of company stock valued at $38,835,333 in the last 90 days. 38.20% of the stock is currently owned by company insiders.

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.