California Public Employees Retirement System Purchases 2,601 Shares of nCino, Inc. (NASDAQ:NCNO)

California Public Employees Retirement System boosted its holdings in shares of nCino, Inc. (NASDAQ:NCNO) by 2.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 98,181 shares of the company’s stock after purchasing an additional 2,601 shares during the period. California Public Employees Retirement System’s holdings in nCino were worth $3,302,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its position in shares of nCino by 643.3% during the third quarter. PNC Financial Services Group Inc. now owns 3,538 shares of the company’s stock worth $113,000 after purchasing an additional 3,062 shares during the period. Victory Capital Management Inc. bought a new stake in nCino during the 3rd quarter worth approximately $213,000. Raymond James Financial Services Advisors Inc. acquired a new stake in nCino during the 4th quarter worth approximately $228,000. Premier Fund Managers Ltd bought a new position in nCino in the third quarter valued at approximately $256,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of nCino in the third quarter valued at approximately $272,000. 94.76% of the stock is owned by institutional investors and hedge funds.

nCino Trading Down 1.7 %

NCNO stock opened at $30.20 on Monday. nCino, Inc. has a one year low of $21.26 and a one year high of $37.48. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of -79.47, a price-to-earnings-growth ratio of 25.04 and a beta of 0.57. The company has a fifty day moving average price of $31.14 and a two-hundred day moving average price of $30.98. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.17 and a quick ratio of 1.17.

nCino (NASDAQ:NCNO) last issued its quarterly earnings data on Tuesday, March 26th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.08. nCino had a positive return on equity of 0.31% and a negative net margin of 8.89%. The firm had revenue of $123.69 million for the quarter, compared to analyst estimates of $124.58 million. Equities analysts anticipate that nCino, Inc. will post 0.05 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Keefe, Bruyette & Woods initiated coverage on shares of nCino in a report on Tuesday, April 9th. They set an “outperform” rating and a $41.00 price objective on the stock. William Blair restated an “outperform” rating on shares of nCino in a report on Wednesday, March 27th. Needham & Company LLC upped their price target on nCino from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, March 27th. Robert W. Baird lifted their price objective on shares of nCino from $34.00 to $36.00 and gave the company a “neutral” rating in a report on Wednesday, March 27th. Finally, Piper Sandler reissued an “overweight” rating and issued a $42.00 price objective on shares of nCino in a research report on Wednesday, March 27th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, nCino presently has a consensus rating of “Moderate Buy” and an average target price of $35.91.

Insider Activity

In related news, Director William J. Ruh sold 5,000 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $34.51, for a total transaction of $172,550.00. Following the sale, the director now owns 251,201 shares of the company’s stock, valued at $8,668,946.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Insight Holdings Group, Llc sold 1,031,659 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $35.20, for a total value of $36,314,396.80. Following the completion of the transaction, the director now owns 545,039 shares of the company’s stock, valued at $19,185,372.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director William J. Ruh sold 5,000 shares of the stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $34.51, for a total transaction of $172,550.00. Following the sale, the director now owns 251,201 shares in the company, valued at $8,668,946.51. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,087,010 shares of company stock worth $38,269,379. Corporate insiders own 38.20% 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.