Eagle Asset Management Inc. Boosts Stock Holdings in nCino, Inc. (NASDAQ:NCNO)

Eagle Asset Management Inc. raised its holdings in shares of nCino, Inc. (NASDAQ:NCNO) by 50.1% during the third quarter, according to its most recent filing with the SEC. The firm owned 647,776 shares of the company’s stock after purchasing an additional 216,100 shares during the period. Eagle Asset Management Inc. owned 0.56% of nCino worth $20,463,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its position in shares of nCino by 51.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 556,757 shares of the company’s stock worth $17,588,000 after buying an additional 189,283 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of nCino by 63.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 172,599 shares of the company’s stock worth $5,452,000 after buying an additional 66,869 shares during the last quarter. Jennison Associates LLC purchased a new position in shares of nCino in the 3rd quarter worth approximately $8,733,000. Commerce Bank purchased a new position in shares of nCino in the 3rd quarter worth approximately $575,000. Finally, Segall Bryant & Hamill LLC purchased a new position in shares of nCino in the 3rd quarter worth approximately $6,288,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Insider Buying and Selling

In related news, CFO Gregory Orenstein sold 3,885 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $35.05, for a total value of $136,169.25. Following the completion of the sale, the chief financial officer now owns 276,892 shares of the company’s stock, valued at approximately $9,705,064.60. The trade was a 1.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sean Desmond sold 30,000 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $34.77, for a total transaction of $1,043,100.00. Following the completion of the sale, the insider now directly owns 341,511 shares of the company’s stock, valued at approximately $11,874,337.47. The trade was a 8.08 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,235,582 shares of company stock valued at $117,618,559. 28.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on NCNO shares. Raymond James raised shares of nCino from a “market perform” rating to an “outperform” rating and set a $38.00 price objective on the stock in a research report on Tuesday, September 3rd. JMP Securities reissued a “market outperform” rating and set a $43.00 target price on shares of nCino in a research report on Wednesday, August 28th. Macquarie reissued an “outperform” rating and set a $40.00 target price on shares of nCino in a research report on Wednesday, October 23rd. Stephens reissued an “equal weight” rating and set a $35.00 target price on shares of nCino in a research report on Wednesday, August 28th. Finally, Needham & Company LLC dropped their target price on shares of nCino from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, August 28th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, nCino presently has an average rating of “Moderate Buy” and an average target price of $38.82.

nCino Price Performance

NCNO opened at $41.42 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.09. The firm has a fifty day moving average price of $35.70 and a 200 day moving average price of $32.97. nCino, Inc. has a 1 year low of $27.47 and a 1 year high of $43.20.

nCino (NASDAQ:NCNO) last posted its earnings results on Tuesday, August 27th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.01. The firm had revenue of $132.40 million during the quarter, compared to analysts’ expectations of $131.06 million. nCino had a negative net margin of 5.78% and a positive return on equity of 1.06%. The business’s revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.02) EPS. On average, research analysts anticipate that nCino, Inc. will post 0.05 earnings per share for the current year.

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.