Connor Clark & Lunn Investment Management Ltd. Raises Position in nCino, Inc. (NASDAQ:NCNO)

Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of nCino, Inc. (NASDAQ:NCNO) by 63.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 172,599 shares of the company’s stock after buying an additional 66,869 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.15% of nCino worth $5,452,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Crewe Advisors LLC acquired a new stake in nCino in the 2nd quarter valued at about $26,000. Asset Management One Co. Ltd. grew its position in shares of nCino by 21.1% in the third quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company’s stock valued at $62,000 after purchasing an additional 341 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in shares of nCino by 97.2% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,755 shares of the company’s stock valued at $87,000 after purchasing an additional 1,358 shares during the last quarter. Amalgamated Bank lifted its position in nCino by 28.1% during the second quarter. Amalgamated Bank now owns 5,174 shares of the company’s stock worth $163,000 after buying an additional 1,134 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its stake in nCino by 145.6% during the first quarter. Lazard Asset Management LLC now owns 4,516 shares of the company’s stock worth $168,000 after buying an additional 2,677 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

nCino Stock Up 2.4 %

nCino stock opened at $41.42 on Friday. The company has a market capitalization of $4.79 billion, a PE ratio of -153.41, a price-to-earnings-growth ratio of 33.21 and a beta of 0.55. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.08. nCino, Inc. has a fifty-two week low of $27.47 and a fifty-two week high of $43.20. The firm has a 50 day moving average price of $35.70 and a 200 day moving average price of $32.97.

nCino (NASDAQ:NCNO) last issued its quarterly earnings data on Tuesday, August 27th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. nCino had a positive return on equity of 1.06% and a negative net margin of 5.78%. The business had revenue of $132.40 million during the quarter, compared to analysts’ expectations of $131.06 million. During the same period in the previous year, the firm posted ($0.02) earnings per share. The company’s revenue was up 13.0% on a year-over-year basis. Research analysts expect that nCino, Inc. will post 0.05 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director William J. Ruh sold 10,000 shares of nCino stock in a transaction on Monday, October 21st. The stock was sold at an average price of $37.50, for a total value of $375,000.00. Following the completion of the transaction, the director now directly owns 226,201 shares in the company, valued at approximately $8,482,537.50. This trade represents a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Gregory Orenstein sold 3,885 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $35.05, for a total value of $136,169.25. Following the completion of the sale, the chief financial officer now directly owns 276,892 shares in the company, valued at $9,705,064.60. This represents a 1.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,235,582 shares of company stock worth $117,618,559 over the last three months. Company insiders own 28.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Stephens reiterated an “equal weight” rating and set a $35.00 price target on shares of nCino in a report on Wednesday, August 28th. Truist Financial reaffirmed a “buy” rating and set a $44.00 target price (up from $37.00) on shares of nCino in a research note on Monday, October 21st. Piper Sandler reissued an “overweight” rating and issued a $38.00 price target on shares of nCino in a research note on Wednesday, August 28th. Macquarie reaffirmed an “outperform” rating and set a $40.00 price target on shares of nCino in a research report on Wednesday, October 23rd. Finally, Needham & Company LLC decreased their price objective on nCino from $42.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, August 28th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, nCino has an average rating of “Moderate Buy” and an average price target of $38.82.

About nCino

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.