Brown Brothers Harriman & Co. Purchases Shares of 1,329,253 nCino, Inc. (NASDAQ:NCNO)

Brown Brothers Harriman & Co. acquired a new position in shares of nCino, Inc. (NASDAQ:NCNO) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,329,253 shares of the company’s stock, valued at approximately $41,805,000. Brown Brothers Harriman & Co. owned approximately 1.16% of nCino at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of NCNO. Vanguard Group Inc. grew its stake in nCino by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 7,122,722 shares of the company’s stock worth $266,247,000 after buying an additional 148,390 shares in the last quarter. Wasatch Advisors LP grew its position in nCino by 18.9% in the fourth quarter. Wasatch Advisors LP now owns 2,253,248 shares of the company’s stock worth $75,777,000 after acquiring an additional 358,766 shares in the last quarter. Meritage Group LP increased its stake in nCino by 2.3% in the first quarter. Meritage Group LP now owns 1,750,954 shares of the company’s stock valued at $65,451,000 after acquiring an additional 39,828 shares during the last quarter. Capital International Investors purchased a new stake in nCino during the first quarter valued at about $60,703,000. Finally, Clearbridge Investments LLC raised its position in nCino by 14.7% during the first quarter. Clearbridge Investments LLC now owns 1,230,194 shares of the company’s stock valued at $45,985,000 after purchasing an additional 157,470 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling at nCino

In other news, Director Insight Holdings Group, Llc sold 1,981,514 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $31.08, for a total value of $61,585,455.12. Following the completion of the transaction, the director now owns 1,545,347 shares in the company, valued at approximately $48,029,384.76. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other nCino news, Director Jeff Horing sold 133,487 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $31.51, for a total value of $4,206,175.37. Following the sale, the director now owns 24,879,980 shares in the company, valued at $783,968,169.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Insight Holdings Group, Llc sold 1,981,514 shares of nCino stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $31.08, for a total transaction of $61,585,455.12. Following the transaction, the director now owns 1,545,347 shares of the company’s stock, valued at $48,029,384.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,741,422 shares of company stock valued at $152,380,666. 28.40% of the stock is currently owned by corporate insiders.

nCino Price Performance

NCNO opened at $29.39 on Monday. The stock’s 50 day moving average price is $31.91 and its 200-day moving average price is $31.41. nCino, Inc. has a 52-week low of $27.13 and a 52-week high of $37.48. The stock has a market capitalization of $3.38 billion, a PE ratio of -94.81, a price-to-earnings-growth ratio of 22.77 and a beta of 0.58. 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 (NASDAQ:NCNO) last issued its quarterly earnings data on Tuesday, August 27th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.13 by $0.01. The business had revenue of $132.40 million during the quarter, compared to analyst estimates of $131.06 million. nCino had a negative net margin of 5.78% and a positive return on equity of 1.06%. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.02) EPS. On average, equities research analysts predict that nCino, Inc. will post 0.06 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Raymond James upgraded nCino from a “market perform” rating to an “outperform” rating and set a $38.00 price objective on the stock in a research report on Tuesday, September 3rd. The Goldman Sachs Group raised shares of nCino from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $34.00 to $42.00 in a research note on Wednesday, August 14th. Stephens reaffirmed an “equal weight” rating and set a $35.00 target price on shares of nCino in a report on Wednesday, August 28th. Truist Financial reiterated a “buy” rating and issued a $37.00 target price on shares of nCino in a research report on Wednesday, August 28th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $38.00 price objective on shares of nCino in a research note on Wednesday, August 28th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

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.