Victory Capital Management Inc. Has $372,000 Position in nCino, Inc. (NASDAQ:NCNO)

Victory Capital Management Inc. grew its holdings in shares of nCino, Inc. (NASDAQ:NCNO) by 15.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,784 shares of the company’s stock after acquiring an additional 1,536 shares during the period. Victory Capital Management Inc.’s holdings in nCino were worth $372,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Kayne Anderson Rudnick Investment Management LLC grew its holdings in nCino by 8.9% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,782,689 shares of the company’s stock worth $244,766,000 after acquiring an additional 635,064 shares during the period. Long Path Partners LP boosted its position in shares of nCino by 151.1% during the 2nd quarter. Long Path Partners LP now owns 2,590,135 shares of the company’s stock worth $81,460,000 after purchasing an additional 1,558,529 shares in the last quarter. Millennium Management LLC boosted its position in shares of nCino by 438.3% during the 2nd quarter. Millennium Management LLC now owns 1,452,242 shares of the company’s stock worth $45,673,000 after purchasing an additional 1,182,452 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of nCino by 11.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,368,240 shares of the company’s stock worth $43,031,000 after purchasing an additional 135,395 shares in the last quarter. Finally, Brown Brothers Harriman & Co. bought a new position in shares of nCino during the 2nd quarter worth about $41,805,000. 94.76% of the stock is currently owned by institutional investors and hedge funds.

nCino Trading Up 0.3 %

NASDAQ:NCNO opened at $41.99 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a market cap of $4.85 billion, a price-to-earnings ratio of -156.66, a price-to-earnings-growth ratio of 34.73 and a beta of 0.55. nCino, Inc. has a 52 week low of $27.47 and a 52 week high of $43.20. The firm has a 50-day moving average price of $36.66 and a two-hundred day moving average price of $33.27.

nCino (NASDAQ:NCNO) last posted its quarterly earnings data on Tuesday, August 27th. The company reported $0.14 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 analyst estimates of $131.06 million. nCino had a negative net margin of 5.78% and a positive return on equity of 1.06%. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.02) EPS. On average, equities analysts expect that nCino, Inc. will post 0.05 earnings per share for the current fiscal year.

Insider Buying and Selling at nCino

In other news, insider Sean Desmond sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were 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 owns 341,511 shares in the company, valued at $11,874,337.47. This trade represents a 8.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jeff Horing sold 1,833,975 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $36.62, for a total transaction of $67,160,164.50. Following the sale, the director now owns 12,513,467 shares of the company’s stock, valued at approximately $458,243,161.54. The trade was a 12.78 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,235,029 shares of company stock worth $117,599,204. Insiders own 28.40% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on NCNO. Stephens reissued an “equal weight” rating and set a $35.00 price objective on shares of nCino in a research report on Wednesday, August 28th. Truist Financial reissued a “buy” rating and set a $44.00 price objective (up previously from $37.00) on shares of nCino in a research report on Monday, October 21st. Barclays raised their price target on shares of nCino from $34.00 to $44.00 and gave the company an “equal weight” rating in a research report on Monday, November 25th. Piper Sandler reaffirmed an “overweight” rating and issued a $38.00 price target on shares of nCino in a research report on Wednesday, August 28th. Finally, William Blair reaffirmed an “outperform” rating on shares of nCino in a research report on Wednesday, August 28th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $39.25.

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.