Franklin Resources Inc. Acquires 5,585 Shares of nCino Inc. $NCNO

Franklin Resources Inc. increased its holdings in shares of nCino Inc. (NASDAQ:NCNO) by 0.5% during the 2nd quarter, Holdings Channel.com reports. The fund owned 1,126,293 shares of the company’s stock after acquiring an additional 5,585 shares during the period. Franklin Resources Inc.’s holdings in nCino were worth $31,502,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in nCino by 7.7% during the first quarter. Vanguard Group Inc. now owns 11,666,955 shares of the company’s stock worth $320,491,000 after purchasing an additional 836,182 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in shares of nCino by 50.2% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,867,463 shares of the company’s stock worth $133,710,000 after buying an additional 1,626,446 shares in the last quarter. Invesco Ltd. lifted its position in shares of nCino by 3.6% during the 1st quarter. Invesco Ltd. now owns 2,697,437 shares of the company’s stock worth $74,099,000 after buying an additional 94,940 shares during the period. Conestoga Capital Advisors LLC lifted its position in shares of nCino by 24.0% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 2,669,920 shares of the company’s stock worth $74,678,000 after buying an additional 516,635 shares during the period. Finally, Geode Capital Management LLC boosted its stake in nCino by 5.7% in the 2nd quarter. Geode Capital Management LLC now owns 1,760,447 shares of the company’s stock valued at $49,247,000 after buying an additional 94,733 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

nCino Stock Up 0.1%

Shares of NASDAQ:NCNO opened at $24.64 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.24. The firm has a market cap of $2.85 billion, a P/E ratio of -84.97, a P/E/G ratio of 15.51 and a beta of 0.62. nCino Inc. has a 12 month low of $18.75 and a 12 month high of $42.88. The company’s 50-day moving average price is $26.07 and its two-hundred day moving average price is $27.45.

nCino (NASDAQ:NCNO) last announced its earnings results on Tuesday, August 26th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.08. nCino had a negative net margin of 5.86% and a positive return on equity of 1.18%. The company had revenue of $148.82 million during the quarter, compared to the consensus estimate of $143.17 million. During the same period in the previous year, the firm posted $0.14 earnings per share. The company’s revenue was up 12.4% on a year-over-year basis. As a group, research analysts forecast that nCino Inc. will post 0.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other nCino news, Director Jeff Horing sold 3,889,254 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $30.00, for a total value of $116,677,620.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider April Rieger sold 4,731 shares of nCino stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $25.81, for a total value of $122,107.11. Following the completion of the sale, the insider directly owned 229,774 shares of the company’s stock, valued at $5,930,466.94. This trade represents a 2.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 4,222,929 shares of company stock valued at $127,244,128 over the last quarter. Company insiders own 5.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NCNO. Zacks Research upgraded nCino from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 27th. UBS Group reaffirmed a “neutral” rating on shares of nCino in a report on Wednesday, August 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of nCino in a report on Wednesday, October 8th. Bank of America boosted their price target on shares of nCino from $34.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, August 27th. Finally, Piper Sandler raised their price objective on shares of nCino from $28.00 to $34.00 and gave the stock a “neutral” rating in a report on Wednesday, August 27th. Three analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.94.

nCino Company 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.