Zurcher Kantonalbank Zurich Cantonalbank Has $287,000 Position in nCino, Inc. (NASDAQ:NCNO)

Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in shares of nCino, Inc. (NASDAQ:NCNO) by 12.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,542 shares of the company’s stock after selling 1,162 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in nCino were worth $287,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. PNC Financial Services Group Inc. grew its stake in nCino by 643.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 3,538 shares of the company’s stock valued at $113,000 after buying an additional 3,062 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in shares of nCino in the third quarter valued at about $213,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of nCino in the fourth quarter worth about $228,000. Premier Fund Managers Ltd acquired a new position in shares of nCino during the 3rd quarter worth about $256,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in nCino during the 3rd quarter valued at approximately $272,000. Institutional investors own 94.76% of the company’s stock.

nCino Price Performance

nCino stock opened at $30.20 on Monday. The business has a 50 day simple moving average of $31.14 and a 200 day simple moving average of $30.98. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.17 and a quick ratio of 1.17. The company has a market capitalization of $3.45 billion, a PE ratio of -79.47, a price-to-earnings-growth ratio of 25.04 and a beta of 0.57. nCino, Inc. has a one year low of $21.26 and a one year high of $37.48.

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

Wall Street Analysts Forecast Growth

NCNO has been the topic of several recent analyst reports. Needham & Company LLC lifted their price target on nCino from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, March 27th. Piper Sandler reiterated an “overweight” rating and set a $42.00 target price on shares of nCino in a research note on Wednesday, March 27th. Robert W. Baird raised their price target on shares of nCino from $34.00 to $36.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 27th. Keefe, Bruyette & Woods started coverage on shares of nCino in a research report on Tuesday, April 9th. They set an “outperform” rating and a $41.00 price objective for the company. Finally, William Blair reissued an “outperform” rating 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 assigned a buy rating to the company. According to data from MarketBeat, nCino presently has an average rating of “Moderate Buy” and an average target price of $35.91.

Insider Buying and Selling at nCino

In other news, Director William J. Ruh sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $34.51, for a total transaction of $172,550.00. Following the completion of the sale, the director now owns 251,201 shares of the company’s stock, valued at $8,668,946.51. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other nCino news, Director Pamela Kilday sold 1,000 shares of the business’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $36.48, for a total value of $36,480.00. Following the transaction, the director now owns 20,930 shares of the company’s stock, valued at $763,526.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director William J. Ruh sold 5,000 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $34.51, for a total value of $172,550.00. Following the sale, the director now owns 251,201 shares in the company, valued at approximately $8,668,946.51. The disclosure for this sale can be found here. Insiders have sold a total of 1,087,010 shares of company stock worth $38,269,379 over the last ninety days. Corporate insiders own 38.20% 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.