American Century Companies Inc. Has $21.33 Million Position in nCino Inc. $NCNO

American Century Companies Inc. lessened its holdings in shares of nCino Inc. (NASDAQ:NCNO) by 25.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 786,927 shares of the company’s stock after selling 265,261 shares during the quarter. American Century Companies Inc. owned 0.68% of nCino worth $21,334,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Long Path Partners LP increased its position in shares of nCino by 61.1% during the second quarter. Long Path Partners LP now owns 4,787,869 shares of the company’s stock worth $133,917,000 after acquiring an additional 1,815,868 shares in the last quarter. Ranger Investment Management L.P. lifted its position in nCino by 48.2% in the 3rd quarter. Ranger Investment Management L.P. now owns 1,157,751 shares of the company’s stock valued at $31,387,000 after acquiring an additional 376,506 shares in the last quarter. Advantage Alpha Capital Partners LP boosted its stake in nCino by 79.7% during the 2nd quarter. Advantage Alpha Capital Partners LP now owns 196,734 shares of the company’s stock valued at $5,503,000 after purchasing an additional 87,274 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in nCino during the 3rd quarter worth approximately $1,397,000. Finally, Vanguard Group Inc. increased its holdings in nCino by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 11,924,703 shares of the company’s stock worth $323,279,000 after purchasing an additional 201,499 shares in the last quarter. 94.76% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, SVP Jeanette Sellers sold 2,182 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $18.26, for a total value of $39,843.32. Following the completion of the transaction, the senior vice president directly owned 43,219 shares of the company’s stock, valued at approximately $789,178.94. This trade represents a 4.81% 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 8,078 shares of nCino stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $18.68, for a total transaction of $150,897.04. Following the completion of the transaction, the insider owned 221,696 shares of the company’s stock, valued at $4,141,281.28. This represents a 3.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 71,310 shares of company stock worth $1,382,650 in the last 90 days. 5.70% of the stock is currently owned by company insiders.

nCino Price Performance

Shares of NASDAQ:NCNO opened at $16.27 on Tuesday. The firm has a market capitalization of $1.87 billion, a PE ratio of -90.39, a P/E/G ratio of 3.32 and a beta of 0.60. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average price of $20.45 and a two-hundred day moving average price of $24.55. nCino Inc. has a twelve month low of $13.80 and a twelve month high of $33.92.

nCino announced that its Board of Directors has initiated a share repurchase program on Monday, December 8th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 3.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. UBS Group restated a “buy” rating and issued a $36.00 target price on shares of nCino in a report on Tuesday, December 9th. Zacks Research lowered nCino from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Barclays dropped their price objective on nCino from $37.00 to $34.00 and set an “overweight” rating on the stock in a research note on Monday, January 5th. BTIG Research started coverage on shares of nCino in a research note on Tuesday, December 16th. They issued a “neutral” rating for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of nCino in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $32.33.

nCino Profile

nCino, Inc provides a cloud-based banking operating system designed to modernize and streamline processes for financial institutions. Built on a software-as-a-service (SaaS) model, the nCino Bank Operating System integrates key banking functions into a unified platform, enabling banks and credit unions to enhance efficiency, reduce risk and improve customer experiences.

Founded in 2012 as a spinoff from Live Oak Bank, nCino launched its flagship offering to address the needs of commercial and retail lenders seeking to replace legacy systems.