Orion Portfolio Solutions LLC Reduces Stake in nCino, Inc. (NASDAQ:NCNO)

Orion Portfolio Solutions LLC cut its position in shares of nCino, Inc. (NASDAQ:NCNO) by 1.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 42,526 shares of the company’s stock after selling 624 shares during the period. Orion Portfolio Solutions LLC’s holdings in nCino were worth $1,428,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of nCino in the 4th quarter worth about $29,268,000. Loomis Sayles & Co. L P acquired a new position in nCino during the fourth quarter worth about $18,291,000. Pier Capital LLC purchased a new stake in shares of nCino in the fourth quarter valued at about $7,489,000. EFG Asset Management North America Corp. grew its position in shares of nCino by 26.9% in the fourth quarter. EFG Asset Management North America Corp. now owns 70,739 shares of the company’s stock valued at $2,376,000 after purchasing an additional 14,980 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of nCino by 9.6% during the 4th quarter. Vanguard Group Inc. now owns 10,830,773 shares of the company’s stock worth $363,697,000 after purchasing an additional 948,282 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NCNO. William Blair lowered nCino from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Raymond James decreased their price objective on nCino from $42.00 to $32.00 and set an “outperform” rating on the stock in a research note on Wednesday. Truist Financial downgraded shares of nCino from a “buy” rating to a “hold” rating and cut their target price for the company from $44.00 to $21.00 in a research note on Wednesday. Morgan Stanley decreased their price target on shares of nCino from $39.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Finally, Robert W. Baird lowered their price target on shares of nCino from $43.00 to $42.00 and set a “neutral” rating for the company in a report on Thursday, December 5th. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $30.33.

Insiders Place Their Bets

In other nCino news, Director Jeff Horing sold 54,876 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $35.00, for a total transaction of $1,920,660.00. Following the transaction, the director now owns 4,458,591 shares in the company, valued at $156,050,685. The trade was a 1.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Gregory Orenstein sold 5,148 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 $167,824.80. Following the completion of the sale, the chief financial officer now directly owns 271,744 shares of the company’s stock, valued at $8,858,854.40. The trade was a 1.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 86,877 shares of company stock worth $2,963,893 over the last ninety days. 28.40% of the stock is owned by company insiders.

nCino Price Performance

NCNO stock opened at $21.71 on Friday. The company has a market cap of $2.51 billion, a PE ratio of -127.70, a price-to-earnings-growth ratio of 5.77 and a beta of 0.69. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20. The stock has a 50-day moving average price of $30.80 and a two-hundred day moving average price of $34.03. nCino, Inc. has a 12-month low of $18.75 and a 12-month high of $43.20.

nCino (NASDAQ:NCNO) last released its quarterly earnings data on Tuesday, April 1st. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.06). The firm had revenue of $141.37 million during the quarter, compared to analyst estimates of $140.81 million. nCino had a negative net margin of 3.46% and a positive return on equity of 1.62%. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.21 earnings per share. As a group, research analysts predict that nCino, Inc. will post 0.12 EPS for the current year.

nCino announced that its board has authorized a share buyback plan on Tuesday, April 1st that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to repurchase up to 3.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

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.