Commerce Bank Makes New $575,000 Investment in nCino, Inc. (NASDAQ:NCNO)

Commerce Bank purchased a new stake in nCino, Inc. (NASDAQ:NCNO) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 18,202 shares of the company’s stock, valued at approximately $575,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NCNO. Asset Management One Co. Ltd. raised its position in nCino by 21.1% in the third quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company’s stock worth $62,000 after purchasing an additional 341 shares in the last quarter. Malaga Cove Capital LLC grew its stake in shares of nCino by 3.0% in the 3rd quarter. Malaga Cove Capital LLC now owns 13,614 shares of the company’s stock valued at $430,000 after purchasing an additional 400 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in shares of nCino by 3.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 14,602 shares of the company’s stock worth $459,000 after buying an additional 508 shares in the last quarter. First Bank & Trust lifted its position in shares of nCino by 5.7% during the 2nd quarter. First Bank & Trust now owns 10,188 shares of the company’s stock worth $320,000 after buying an additional 546 shares during the period. Finally, Precision Wealth Strategies LLC boosted its stake in nCino by 4.5% in the 3rd quarter. Precision Wealth Strategies LLC now owns 13,564 shares of the company’s stock valued at $428,000 after buying an additional 589 shares in the last quarter. 94.76% of the stock is owned by institutional investors.

nCino Trading Up 1.9 %

NCNO stock opened at $42.20 on Tuesday. The business has a fifty day moving average of $35.95 and a 200-day moving average of $33.07. The company has a market cap of $4.88 billion, a P/E ratio of -156.29, a PEG ratio of 34.35 and a beta of 0.55. nCino, Inc. has a twelve month low of $27.47 and a twelve month high of $43.20. 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 (NASDAQ:NCNO) last released its earnings results on Tuesday, August 27th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $132.40 million for the quarter, compared to the consensus estimate of $131.06 million. During the same period in the prior year, the company posted ($0.02) EPS. The company’s revenue was up 13.0% compared to the same quarter last year. As a group, equities research analysts expect that nCino, Inc. will post 0.05 EPS for the current year.

Wall Street Analysts Forecast Growth

NCNO has been the subject of a number of analyst reports. JMP Securities reissued a “market outperform” rating and set a $43.00 price objective on shares of nCino in a report 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 target for the company in a report on Tuesday, September 3rd. Needham & Company LLC decreased their price objective on shares of nCino from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, August 28th. William Blair reiterated an “outperform” rating on shares of nCino in a research note on Wednesday, August 28th. Finally, Barclays boosted their target price on nCino from $34.00 to $44.00 and gave the stock an “equal weight” rating in a report on Monday. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, nCino presently has an average rating of “Moderate Buy” and an average target price of $39.25.

Insider Activity at nCino

In other nCino news, CFO Gregory Orenstein sold 3,885 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $35.05, for a total transaction of $136,169.25. Following the completion of the sale, the chief financial officer now owns 276,892 shares in the company, valued at approximately $9,705,064.60. The trade was a 1.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jeff Horing sold 1,356,721 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $36.02, for a total value of $48,869,090.42. Following the completion of the transaction, the director now owns 14,656,746 shares in the company, valued at $527,935,990.92. This represents a 8.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,235,029 shares of company stock worth $117,599,204 over the last ninety days. Company 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.