Victory Capital Management Inc. Acquires 1,772 Shares of nCino, Inc. (NASDAQ:NCNO)

Victory Capital Management Inc. lifted its holdings in nCino, Inc. (NASDAQ:NCNO) by 20.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 10,248 shares of the company’s stock after purchasing an additional 1,772 shares during the quarter. Victory Capital Management Inc.’s holdings in nCino were worth $322,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its holdings in shares of nCino by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 347,058 shares of the company’s stock valued at $11,672,000 after buying an additional 8,538 shares during the period. Dimensional Fund Advisors LP boosted its stake in nCino by 20.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,034,908 shares of the company’s stock worth $34,807,000 after purchasing an additional 177,799 shares during the period. Norges Bank bought a new position in nCino during the 4th quarter worth about $25,336,000. Advisory Services Network LLC bought a new position in nCino during the 4th quarter worth about $171,000. Finally, Olympiad Research LP acquired a new stake in shares of nCino in the 4th quarter valued at about $440,000. 94.76% of the stock is owned by institutional investors.

nCino Trading Down 1.1 %

nCino stock opened at $30.09 on Tuesday. The stock has a 50-day simple moving average of $31.77 and a 200 day simple moving average of $31.45. The stock has a market capitalization of $3.46 billion, a P/E ratio of -97.06, a PEG ratio of 22.77 and a beta of 0.58. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.08. nCino, Inc. has a 52 week low of $27.13 and a 52 week high of $37.48.

nCino (NASDAQ:NCNO) last posted its earnings results on Tuesday, August 27th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $132.40 million for the quarter, compared to analyst estimates of $131.06 million. During the same period in the previous year, the firm earned ($0.02) EPS. The firm’s revenue was up 13.0% compared to the same quarter last year. Analysts expect that nCino, Inc. will post 0.06 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Truist Financial reiterated a “buy” rating and set a $37.00 price objective on shares of nCino in a report on Wednesday, August 28th. Piper Sandler reaffirmed an “overweight” rating and set a $38.00 price target on shares of nCino in a research note on Wednesday, August 28th. 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 restated a “market outperform” rating and set a $43.00 target price on shares of nCino in a report on Wednesday, August 28th. Finally, The Goldman Sachs Group upgraded shares of nCino from a “neutral” rating to a “buy” rating and lifted their price target for the company from $34.00 to $42.00 in a research note on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $38.00.

Insider Transactions at nCino

In other news, Director Jeff Horing sold 800,002 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $33.16, for a total value of $26,528,066.32. Following the transaction, the director now owns 16,649,942 shares of the company’s stock, valued at $552,112,076.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other nCino news, Director Insight Holdings Group, Llc sold 1,981,514 shares of nCino stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $31.08, for a total value of $61,585,455.12. Following the completion of the sale, the director now owns 1,545,347 shares in the company, valued at approximately $48,029,384.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeff Horing sold 800,002 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $33.16, for a total transaction of $26,528,066.32. Following the transaction, the director now owns 16,649,942 shares in the company, valued at approximately $552,112,076.72. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,407,811 shares of company stock worth $141,848,240. 28.40% of the stock is owned by insiders.

About nCino

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.