Janney Montgomery Scott LLC Grows Position in nCino, Inc. (NASDAQ:NCNO)

Janney Montgomery Scott LLC increased its position in shares of nCino, Inc. (NASDAQ:NCNO) by 12.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,865 shares of the company’s stock after buying an additional 1,072 shares during the period. Janney Montgomery Scott LLC’s holdings in nCino were worth $331,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. ShawSpring Partners LLC lifted its holdings in shares of nCino by 115.9% during the third quarter. ShawSpring Partners LLC now owns 2,653,687 shares of the company’s stock worth $83,830,000 after purchasing an additional 1,424,349 shares during the period. Long Path Partners LP increased its position in nCino by 43.7% during the 3rd quarter. Long Path Partners LP now owns 3,721,406 shares of the company’s stock worth $117,559,000 after purchasing an additional 1,131,271 shares in the last quarter. ArrowMark Colorado Holdings LLC raised its stake in nCino by 65.1% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 2,100,062 shares of the company’s stock valued at $66,341,000 after purchasing an additional 828,124 shares during the last quarter. American Capital Management Inc. lifted its holdings in nCino by 348.9% in the 3rd quarter. American Capital Management Inc. now owns 1,029,725 shares of the company’s stock valued at $32,529,000 after purchasing an additional 800,317 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its holdings in nCino by 55.4% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 2,065,880 shares of the company’s stock valued at $65,261,000 after purchasing an additional 736,627 shares in the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

nCino Stock Up 1.2 %

NCNO opened at $33.34 on Wednesday. nCino, Inc. has a 1 year low of $28.09 and a 1 year high of $43.20. The firm has a 50 day moving average price of $34.31 and a 200 day moving average price of $34.56. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95. The company has a market cap of $3.86 billion, a PE ratio of -196.11, a price-to-earnings-growth ratio of 5.70 and a beta of 0.65.

Insiders Place Their Bets

In other news, insider April Rieger sold 4,325 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total value of $140,995.00. Following the completion of the sale, the insider now owns 145,953 shares of the company’s stock, valued at $4,758,067.80. This represents a 2.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeff Horing sold 4,474,158 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $35.75, for a total value of $159,951,148.50. Following the sale, the director now owns 4,513,467 shares in the company, valued at approximately $161,356,445.25. The trade was a 49.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,270,085 shares of company stock worth $225,838,863 over the last ninety days. 28.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Barclays raised shares of nCino from an “equal weight” rating to an “overweight” rating and set a $44.00 price objective for the company in a research report on Monday, January 6th. UBS Group started coverage on nCino in a report on Monday, December 16th. They issued a “buy” rating and a $44.00 price target for the company. Stephens raised their price objective on nCino from $35.00 to $38.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Macquarie upped their target price on nCino from $40.00 to $43.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Finally, Morgan Stanley reduced their target price on nCino from $41.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Friday, December 6th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $42.50.

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.