nCino, Inc. (NASDAQ:NCNO) Shares Acquired by California Public Employees Retirement System

California Public Employees Retirement System boosted its stake in nCino, Inc. (NASDAQ:NCNO) by 2.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 98,181 shares of the company’s stock after acquiring an additional 2,601 shares during the period. California Public Employees Retirement System owned 0.09% of nCino worth $3,302,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. increased its holdings 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 valued at $113,000 after purchasing an additional 3,062 shares during the period. Victory Capital Management Inc. acquired a new position in shares of nCino during the third quarter worth about $213,000. Raymond James Financial Services Advisors Inc. purchased a new position in nCino during the fourth quarter worth about $228,000. Premier Fund Managers Ltd acquired a new stake in nCino in the third quarter valued at about $256,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in nCino in the 3rd quarter valued at approximately $272,000. 94.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at nCino

In other nCino news, VP Jeanette Sellers sold 894 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $31.18, for a total transaction of $27,874.92. Following the sale, the vice president now directly owns 20,770 shares of the company’s stock, valued at approximately $647,608.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other nCino news, CEO Pierre Naude sold 10,924 shares of the business’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $34.41, for a total value of $375,894.84. Following the completion of the transaction, the chief executive officer now directly owns 1,159,395 shares in the company, valued at approximately $39,894,781.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jeanette Sellers sold 894 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $31.18, for a total value of $27,874.92. Following the sale, the vice president now owns 20,770 shares in the company, valued at approximately $647,608.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,087,010 shares of company stock valued at $38,269,379. 38.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on NCNO shares. Robert W. Baird increased their target price on nCino from $34.00 to $36.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 27th. Needham & Company LLC upped their price target on shares of nCino from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, March 27th. Piper Sandler reiterated an “overweight” rating and issued a $42.00 price target on shares of nCino in a report on Wednesday, March 27th. William Blair reissued an “outperform” rating on shares of nCino in a report on Wednesday, March 27th. Finally, Morgan Stanley increased their target price on shares of nCino from $27.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, March 27th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $35.91.

nCino Stock Down 1.7 %

NCNO stock opened at $30.20 on Monday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.17 and a quick ratio of 1.17. nCino, Inc. has a 12 month low of $21.26 and a 12 month high of $37.48. The firm has a market capitalization of $3.45 billion, a PE ratio of -79.47, a P/E/G ratio of 25.04 and a beta of 0.57. The company’s 50 day simple moving average is $31.14 and its 200-day simple moving average is $30.98.

nCino (NASDAQ:NCNO) last released its quarterly earnings results on Tuesday, March 26th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $124.58 million. Equities analysts expect that nCino, Inc. will post 0.05 earnings per share for the current fiscal 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.