American Century Companies Inc. Acquires 83,953 Shares of nCino, Inc. (NASDAQ:NCNO)

American Century Companies Inc. grew its holdings in nCino, Inc. (NASDAQ:NCNO) by 9.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 999,761 shares of the company’s stock after purchasing an additional 83,953 shares during the period. American Century Companies Inc.’s holdings in nCino were worth $33,572,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. ArrowMark Colorado Holdings LLC boosted its stake in nCino by 65.1% in the third quarter. ArrowMark Colorado Holdings LLC now owns 2,100,062 shares of the company’s stock valued at $66,341,000 after buying an additional 828,124 shares in the last quarter. Conestoga Capital Advisors LLC bought a new position in shares of nCino in the fourth quarter worth about $70,256,000. Geode Capital Management LLC boosted its stake in shares of nCino by 26.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,517,512 shares of the company’s stock valued at $47,951,000 after purchasing an additional 313,637 shares in the last quarter. Fred Alger Management LLC grew its holdings in shares of nCino by 95.0% during the 3rd quarter. Fred Alger Management LLC now owns 1,503,549 shares of the company’s stock valued at $47,497,000 after purchasing an additional 732,441 shares during the last quarter. Finally, Bamco Inc. NY increased its position in nCino by 50.0% during the 3rd quarter. Bamco Inc. NY now owns 1,499,640 shares of the company’s stock worth $47,374,000 after purchasing an additional 499,640 shares in the last quarter. Institutional investors own 94.76% of the company’s stock.

nCino Stock Performance

NASDAQ:NCNO opened at $28.92 on Friday. The company has a market capitalization of $3.35 billion, a PE ratio of -170.11, a P/E/G ratio of 5.77 and a beta of 0.66. nCino, Inc. has a fifty-two week low of $27.29 and a fifty-two week high of $43.20. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95. The company has a 50 day simple moving average of $31.44 and a two-hundred day simple moving average of $34.15.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NCNO. Morgan Stanley cut their target price on shares of nCino from $41.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Friday, December 6th. Raymond James cut their price objective on nCino from $44.00 to $42.00 and set an “outperform” rating on the stock in a report on Tuesday. Stephens restated an “equal weight” rating and set a $38.00 price objective on shares of nCino in a research report on Thursday, March 20th. KeyCorp reiterated a “sector weight” rating on shares of nCino in a research report on Monday, February 3rd. Finally, Scotiabank reduced their price target on nCino from $42.00 to $35.00 and set a “sector outperform” rating on the stock in a report on Thursday. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $41.36.

Insider Activity

In other nCino news, CEO Sean Desmond sold 5,034 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total transaction of $164,108.40. Following the transaction, the chief executive officer now directly owns 306,477 shares in the company, valued at approximately $9,991,150.20. This represents a 1.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeff Horing sold 54,876 shares of nCino stock in a transaction on Monday, January 6th. The shares were sold at an average price of $35.00, for a total transaction of $1,920,660.00. Following the completion of the sale, the director now owns 4,458,591 shares of the company’s stock, valued at $156,050,685. This represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 86,877 shares of company stock valued at $2,963,893. 28.40% of the stock is currently owned by insiders.

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.