Dimensional Fund Advisors LP Acquires 99,502 Shares of nCino, Inc. (NASDAQ:NCNO)

Dimensional Fund Advisors LP increased its holdings in shares of nCino, Inc. (NASDAQ:NCNO) by 6.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,606,549 shares of the company’s stock after acquiring an additional 99,502 shares during the period. Dimensional Fund Advisors LP’s holdings in nCino were worth $53,948,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of NCNO. Barclays PLC boosted its position in shares of nCino by 22.2% in the 3rd quarter. Barclays PLC now owns 73,014 shares of the company’s stock worth $2,306,000 after purchasing an additional 13,252 shares in the last quarter. Synovus Financial Corp bought a new stake in nCino in the third quarter worth $656,000. Franklin Resources Inc. boosted its holdings in nCino by 46.0% in the third quarter. Franklin Resources Inc. now owns 1,092,862 shares of the company’s stock worth $38,327,000 after acquiring an additional 344,269 shares in the last quarter. Kings Path Partners LLC purchased a new stake in shares of nCino in the fourth quarter worth $336,000. Finally, Hilltop National Bank bought a new position in shares of nCino during the fourth quarter valued at $37,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on NCNO. Piper Sandler cut their price objective on shares of nCino from $28.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 23rd. Needham & Company LLC reduced their price target on shares of nCino from $45.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Truist Financial cut nCino from a “buy” rating to a “hold” rating and lowered their price objective for the company from $44.00 to $21.00 in a research report on Wednesday, April 2nd. Raymond James reduced their target price on nCino from $42.00 to $32.00 and set an “outperform” rating for the company in a report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods lowered their price target on nCino from $40.00 to $28.00 and set an “outperform” rating on the stock in a report on Thursday, April 3rd. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $30.40.

Insider Activity at nCino

In related news, Director Pierre Naude sold 31,123 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total value of $649,225.78. Following the transaction, the director now directly owns 1,066,090 shares of the company’s stock, valued at approximately $22,238,637.40. The trade was a 2.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Gregory Orenstein sold 5,148 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total value of $167,824.80. Following the completion of the transaction, the chief financial officer now owns 271,744 shares of the company’s stock, valued at $8,858,854.40. The trade was a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 110,012 shares of company stock worth $2,694,676. 28.40% of the stock is owned by corporate insiders.

nCino Stock Performance

Shares of NCNO opened at $22.96 on Friday. The business has a 50-day simple moving average of $26.19 and a two-hundred day simple moving average of $32.71. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20. nCino, Inc. has a 52 week low of $18.75 and a 52 week high of $43.20. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of -135.05, a PEG ratio of 5.77 and a beta of 0.69.

nCino (NASDAQ:NCNO) last released its earnings results on Tuesday, April 1st. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.06). The firm had revenue of $141.37 million for the quarter, compared to the consensus estimate of $140.81 million. nCino had a positive return on equity of 1.62% and a negative net margin of 3.46%. nCino’s revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.21 EPS. On average, analysts expect that nCino, Inc. will post 0.12 EPS for the current year.

nCino declared that its Board of Directors has authorized a share buyback program on Tuesday, April 1st that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to buy up to 3.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

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.