Senator Investment Group LP Has $42.87 Million Stock Holdings in nCino, Inc. (NASDAQ:NCNO)

Senator Investment Group LP decreased its holdings in shares of nCino, Inc. (NASDAQ:NCNO) by 18.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,276,686 shares of the company’s stock after selling 294,994 shares during the quarter. Senator Investment Group LP owned about 1.10% of nCino worth $42,871,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Barclays PLC lifted its position in nCino by 22.2% in the 3rd quarter. Barclays PLC now owns 73,014 shares of the company’s stock valued at $2,306,000 after acquiring an additional 13,252 shares in the last quarter. Geode Capital Management LLC lifted its holdings in nCino by 26.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,517,512 shares of the company’s stock valued at $47,951,000 after purchasing an additional 313,637 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in nCino in the 3rd quarter valued at about $189,000. Synovus Financial Corp acquired a new position in shares of nCino in the third quarter valued at approximately $656,000. Finally, Franklin Resources Inc. raised its stake in nCino by 46.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,092,862 shares of the company’s stock worth $38,327,000 after purchasing an additional 344,269 shares in the last quarter. Institutional investors own 94.76% of the company’s stock.

Wall Street Analyst Weigh In

NCNO has been the subject of a number of research analyst reports. Barclays lowered their price objective on shares of nCino from $44.00 to $24.00 and set an “overweight” rating for the company in a research report on Wednesday, April 2nd. William Blair downgraded shares of nCino from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 2nd. Scotiabank reaffirmed a “sector perform” rating and set a $19.00 target price (down previously from $35.00) on shares of nCino in a research note on Wednesday, April 2nd. Truist Financial lowered shares of nCino from a “buy” rating to a “hold” rating and dropped their price objective for the company from $44.00 to $21.00 in a report on Wednesday, April 2nd. Finally, Needham & Company LLC cut their target price on nCino from $45.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, nCino has a consensus rating of “Hold” and a consensus target price of $30.60.

Insiders Place Their Bets

In other news, Director Pierre Naude sold 10,638 shares of the stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $22.31, for a total transaction of $237,333.78. Following the sale, the director now owns 1,055,452 shares of the company’s stock, valued at approximately $23,547,134.12. This represents a 1.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Gregory Orenstein sold 5,148 shares of nCino stock in a transaction dated Tuesday, February 4th. The shares were 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 position. The disclosure for this sale can be found here. Over the last 90 days, 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 Up 0.1 %

NASDAQ NCNO opened at $23.95 on Monday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20. The company has a fifty day moving average of $28.19 and a two-hundred day moving average of $33.39. nCino, Inc. has a 52 week low of $18.75 and a 52 week high of $43.20. The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of -140.87, a PEG ratio of 5.77 and a beta of 0.69.

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

nCino announced that its board has approved a share buyback program on Tuesday, April 1st that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are usually a sign 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.