Barclays PLC Purchases 265,074 Shares of nCino, Inc. (NASDAQ:NCNO)

Barclays PLC increased its position in shares of nCino, Inc. (NASDAQ:NCNO) by 363.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 338,088 shares of the company’s stock after purchasing an additional 265,074 shares during the period. Barclays PLC owned approximately 0.29% of nCino worth $11,352,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its stake in nCino by 46.0% in the third quarter. Franklin Resources Inc. now owns 1,092,862 shares of the company’s stock worth $38,327,000 after purchasing an additional 344,269 shares during the period. Conestoga Capital Advisors LLC purchased a new stake in nCino in the 4th quarter valued at about $70,256,000. Synovus Financial Corp bought a new position in nCino in the 3rd quarter worth about $656,000. Amundi increased its position in shares of nCino by 312.1% during the fourth quarter. Amundi now owns 6,004 shares of the company’s stock worth $201,000 after acquiring an additional 4,547 shares during the period. Finally, KBC Group NV raised its stake in shares of nCino by 3,082.1% during the fourth quarter. KBC Group NV now owns 75,988 shares of the company’s stock valued at $2,552,000 after acquiring an additional 73,600 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors.

nCino Stock Down 3.2 %

NCNO stock opened at $23.18 on Tuesday. nCino, Inc. has a 12 month low of $18.75 and a 12 month high of $43.20. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95. The company has a market cap of $2.70 billion, a price-to-earnings ratio of -136.34, a price-to-earnings-growth ratio of 5.77 and a beta of 0.69. The company has a fifty day moving average price of $27.98 and a 200 day moving average price of $33.34.

nCino (NASDAQ:NCNO) last released its 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). The company 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%. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.21 EPS. Sell-side analysts expect that nCino, Inc. will post 0.12 earnings per share for the current year.

nCino declared that its board has approved a stock buyback plan on Tuesday, April 1st that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

NCNO has been the topic of a number of research reports. Scotiabank reissued a “sector perform” rating and set a $19.00 target price (down previously from $35.00) on shares of nCino in a research report on Wednesday, April 2nd. Stephens reissued an “equal weight” rating and issued a $38.00 price objective on shares of nCino in a research note on Wednesday, April 2nd. KeyCorp reaffirmed a “sector weight” rating on shares of nCino in a research report on Monday, February 3rd. Truist Financial cut nCino from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $44.00 to $21.00 in a research note on Wednesday, April 2nd. Finally, Bank of America boosted their target price on shares of nCino from $22.00 to $26.00 and gave the stock a “neutral” rating in a report on Thursday, April 10th. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $30.60.

Insiders Place Their Bets

In other nCino news, CEO Sean Desmond sold 5,034 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total transaction of $164,108.40. Following the transaction, the chief executive officer now owns 306,477 shares of the company’s stock, valued at $9,991,150.20. This represents a 1.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider April Rieger sold 7,881 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total value of $164,397.66. Following the transaction, the insider now owns 138,072 shares in the company, valued at $2,880,181.92. This trade represents a 5.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 110,012 shares of company stock worth $2,694,676. 28.40% of the stock is owned by company insiders.

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.