Kayne Anderson Rudnick Investment Management LLC Grows Position in nCino, Inc. (NASDAQ:NCNO)

Kayne Anderson Rudnick Investment Management LLC raised its stake in nCino, Inc. (NASDAQ:NCNO) by 8.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,782,689 shares of the company’s stock after acquiring an additional 635,064 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned approximately 6.76% of nCino worth $244,766,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in NCNO. Crewe Advisors LLC acquired a new position in nCino in the 2nd quarter valued at about $26,000. Benjamin F. Edwards & Company Inc. acquired a new position in shares of nCino in the first quarter valued at approximately $52,000. Covestor Ltd lifted its stake in shares of nCino by 29.6% during the first quarter. Covestor Ltd now owns 2,736 shares of the company’s stock valued at $102,000 after buying an additional 625 shares during the period. Amalgamated Bank boosted its position in nCino by 28.1% during the second quarter. Amalgamated Bank now owns 5,174 shares of the company’s stock worth $163,000 after acquiring an additional 1,134 shares during the last quarter. Finally, Lazard Asset Management LLC grew its stake in nCino by 145.6% in the 1st quarter. Lazard Asset Management LLC now owns 4,516 shares of the company’s stock worth $168,000 after acquiring an additional 2,677 shares during the period. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

nCino Price Performance

NCNO opened at $30.44 on Friday. The company has a 50 day moving average of $31.81 and a two-hundred day moving average of $31.39. nCino, Inc. has a 52-week low of $27.13 and a 52-week high of $37.48. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.09. The company has a market cap of $3.50 billion, a P/E ratio of -98.42, a P/E/G ratio of 22.77 and a beta of 0.58.

nCino (NASDAQ:NCNO) last announced its quarterly 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. nCino had a positive return on equity of 1.06% and a negative net margin of 5.78%. The firm had revenue of $132.40 million during the quarter, compared to the consensus estimate of $131.06 million. During the same period in the prior year, the firm earned ($0.02) EPS. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. On average, analysts expect that nCino, Inc. will post 0.06 earnings per share for the current year.

Insider Activity at nCino

In other nCino news, Director Insight Holdings Group, Llc sold 138,319 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $31.53, for a total value of $4,361,198.07. Following the completion of the transaction, the director now owns 135,015 shares in the company, valued at approximately $4,257,022.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other nCino news, Director Insight Holdings Group, Llc sold 138,319 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $31.53, for a total value of $4,361,198.07. Following the transaction, the director now owns 135,015 shares in the company, valued at approximately $4,257,022.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeff Horing sold 133,487 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $31.51, for a total transaction of $4,206,175.37. Following the completion of the transaction, the director now directly owns 24,879,980 shares of the company’s stock, valued at $783,968,169.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,546,130 shares of company stock worth $146,209,438. 28.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

NCNO has been the topic of a number of recent analyst reports. The Goldman Sachs Group raised nCino from a “neutral” rating to a “buy” rating and increased their price target for the stock from $34.00 to $42.00 in a research note on Wednesday, August 14th. William Blair reiterated an “outperform” rating on shares of nCino in a research report on Wednesday, August 28th. Truist Financial restated a “buy” rating and issued a $37.00 price target on shares of nCino in a report on Wednesday, August 28th. Raymond James upgraded shares of nCino from a “market perform” rating to an “outperform” rating and set a $38.00 price objective on the stock in a report on Tuesday, September 3rd. Finally, JMP Securities restated a “market outperform” rating and issued a $43.00 target price on shares of nCino in a report on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $38.00.

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.