Wealth Enhancement Advisory Services LLC Acquires Shares of 6,768 nCino, Inc. (NASDAQ:NCNO)

Wealth Enhancement Advisory Services LLC acquired a new stake in nCino, Inc. (NASDAQ:NCNO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,768 shares of the company’s stock, valued at approximately $227,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of NCNO. Johnson Financial Group Inc. bought a new stake in nCino in the fourth quarter valued at approximately $57,000. Asset Management One Co. Ltd. raised its stake in nCino by 16.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company’s stock valued at $78,000 after buying an additional 323 shares during the period. PNC Financial Services Group Inc. raised its stake in nCino by 32.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,536 shares of the company’s stock valued at $152,000 after buying an additional 1,122 shares during the period. BNP Paribas Financial Markets bought a new position in shares of nCino during the fourth quarter worth approximately $153,000. Finally, Deutsche Bank AG increased its stake in shares of nCino by 42.9% during the fourth quarter. Deutsche Bank AG now owns 5,256 shares of the company’s stock worth $176,000 after purchasing an additional 1,577 shares during the period. Institutional investors own 94.76% of the company’s stock.

nCino Price Performance

nCino stock opened at $26.90 on Tuesday. The stock’s fifty day moving average price is $24.87 and its two-hundred day moving average price is $29.62. nCino, Inc. has a one year low of $18.75 and a one year high of $43.20. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95. The firm has a market cap of $3.12 billion, a PE ratio of -158.23, a price-to-earnings-growth ratio of 5.77 and a beta of 0.76.

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

nCino declared that its board has approved a share repurchase program on Tuesday, April 1st that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to buy up to 3.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at nCino

In other news, Director Pierre Naude sold 31,123 shares of the business’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total transaction of $649,225.78. Following the completion of the transaction, the director now owns 1,066,090 shares of the company’s stock, valued at approximately $22,238,637.40. The trade was a 2.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider April Rieger sold 7,881 shares of the business’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total value of $164,397.66. Following the transaction, the insider now directly owns 138,072 shares of the company’s stock, valued at $2,880,181.92. This trade represents a 5.40% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 141,060 shares of company stock valued at $3,101,115. 5.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Stephens increased their target price on nCino from $24.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 21st. Needham & Company LLC reiterated a “buy” rating and set a $33.00 target price on shares of nCino in a research note on Thursday, May 29th. Morgan Stanley increased their target price on nCino from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 29th. UBS Group set a $28.00 target price on nCino in a research note on Thursday, May 29th. Finally, Keefe, Bruyette & Woods increased their target price on nCino from $28.00 to $33.00 and gave the stock an “outperform” rating in a research note on Thursday, May 29th. Ten investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, nCino has a consensus rating of “Hold” and an average price target of $31.00.

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.