Commonwealth Equity Services LLC Has $400,000 Holdings in nCino, Inc. (NASDAQ:NCNO)

Commonwealth Equity Services LLC decreased its stake in shares of nCino, Inc. (NASDAQ:NCNO) by 7.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 11,909 shares of the company’s stock after selling 908 shares during the period. Commonwealth Equity Services LLC’s holdings in nCino were worth $400,000 at the end of the most recent quarter.

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

nCino Stock Down 1.2 %

Shares of NASDAQ:NCNO opened at $21.45 on Monday. nCino, Inc. has a 1 year low of $18.75 and a 1 year high of $43.20. The company has a market capitalization 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 business has a fifty day moving average price of $30.58 and a two-hundred day moving average price of $34.03. 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 posted its quarterly earnings results on Tuesday, April 1st. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.06). The company had revenue of $141.37 million for the quarter, compared to the consensus estimate of $140.81 million. nCino had a negative net margin of 3.46% and a positive return on equity of 1.62%. nCino’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.21 EPS. 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 stock buyback plan on Tuesday, April 1st that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other news, Director Pierre Naude sold 31,123 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $20.86, for a total value of $649,225.78. Following the sale, the director now owns 1,066,090 shares of the company’s stock, valued at $22,238,637.40. The trade was a 2.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sean Desmond sold 5,034 shares of the company’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 $164,108.40. Following the sale, the chief executive officer now owns 306,477 shares in the company, valued at $9,991,150.20. The trade was 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 91,988 shares of company stock valued at $2,294,561. 28.40% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. UBS Group set a $40.00 price objective on nCino in a research note on Friday, March 28th. Barclays decreased their price target on shares of nCino from $44.00 to $24.00 and set an “overweight” rating for the company in a research note on Wednesday, April 2nd. Raymond James dropped their price objective on shares of nCino from $42.00 to $32.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 2nd. Bank of America downgraded shares of nCino from a “buy” rating to a “neutral” rating and set a $22.00 target price for the company. in a research report on Wednesday, April 2nd. Finally, Scotiabank reaffirmed a “sector perform” rating and issued a $19.00 price target (down previously from $35.00) on shares of nCino in a research report on Wednesday, April 2nd. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $30.33.

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.