Victory Capital Management Inc. Grows Stock Holdings in nCino, Inc. (NASDAQ:NCNO)

Victory Capital Management Inc. boosted its holdings in nCino, Inc. (NASDAQ:NCNO) by 15.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,784 shares of the company’s stock after buying an additional 1,536 shares during the period. Victory Capital Management Inc.’s holdings in nCino were worth $372,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of NCNO. 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 valued at $168,000 after buying an additional 2,677 shares in the last quarter. First Bank & Trust boosted its holdings in nCino by 5.7% in the 2nd quarter. First Bank & Trust now owns 10,188 shares of the company’s stock valued at $320,000 after purchasing an additional 546 shares during the period. Simplicity Wealth LLC bought a new position in nCino in the 2nd quarter valued at $3,530,000. Vanderbilt University bought a new position in nCino in the 2nd quarter valued at $1,512,000. Finally, Portside Wealth Group LLC boosted its holdings in nCino by 23.4% in the 2nd quarter. Portside Wealth Group LLC now owns 39,786 shares of the company’s stock valued at $1,251,000 after purchasing an additional 7,536 shares during the period. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NCNO. Raymond James raised shares of nCino from a “market perform” rating to an “outperform” rating and set a $38.00 price target for the company in a report on Tuesday, September 3rd. Barclays lifted their price objective on shares of nCino from $34.00 to $44.00 and gave the stock an “equal weight” rating in a report on Monday, November 25th. Macquarie reiterated an “outperform” rating and issued a $40.00 target price on shares of nCino in a research report on Wednesday, October 23rd. JMP Securities reiterated a “market outperform” rating and issued a $43.00 target price on shares of nCino in a research report on Wednesday, August 28th. Finally, William Blair reiterated an “outperform” rating on shares of nCino in a research report on Wednesday, August 28th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $39.25.

nCino Stock Performance

NASDAQ NCNO opened at $41.99 on Friday. The company has a 50-day simple moving average of $36.66 and a two-hundred day simple moving average of $33.27. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.09. nCino, Inc. has a 12-month low of $27.47 and a 12-month high of $43.20. The firm has a market cap of $4.85 billion, a price-to-earnings ratio of -156.66, a PEG ratio of 34.73 and a beta of 0.55.

nCino (NASDAQ:NCNO) last posted 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 negative net margin of 5.78% and a positive return on equity of 1.06%. The business had revenue of $132.40 million during the quarter, compared to analyst estimates of $131.06 million. During the same period in the prior year, the business posted ($0.02) earnings per share. The company’s revenue was up 13.0% on a year-over-year basis. On average, equities analysts forecast that nCino, Inc. will post 0.05 EPS for the current year.

Insider Activity

In other news, insider Sean Desmond sold 30,000 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $34.77, for a total transaction of $1,043,100.00. Following the completion of the transaction, the insider now directly owns 341,511 shares of the company’s stock, valued at approximately $11,874,337.47. This represents a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Gregory Orenstein sold 3,885 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $35.05, for a total transaction of $136,169.25. Following the transaction, the chief financial officer now directly owns 276,892 shares of the company’s stock, valued at approximately $9,705,064.60. This trade represents a 1.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,235,029 shares of company stock valued at $117,599,204. Insiders own 28.40% of the company’s stock.

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.