Wolf Hill Capital Management LP Invests $17.21 Million in nCino Inc. $NCNO

Wolf Hill Capital Management LP purchased a new position in nCino Inc. (NASDAQ:NCNO) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 671,156 shares of the company’s stock, valued at approximately $17,208,000. nCino accounts for about 1.9% of Wolf Hill Capital Management LP’s portfolio, making the stock its 14th biggest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NCNO. Bank of America Corp DE lifted its stake in nCino by 475.1% in the third quarter. Bank of America Corp DE now owns 2,513,686 shares of the company’s stock worth $68,146,000 after acquiring an additional 2,076,579 shares during the period. Senvest Management LLC increased its holdings in nCino by 68.6% in the 4th quarter. Senvest Management LLC now owns 4,078,276 shares of the company’s stock worth $104,567,000 after buying an additional 1,658,868 shares in the last quarter. Wellington Management Group LLP bought a new stake in nCino in the 3rd quarter worth about $36,962,000. Marshall Wace LLP increased its holdings in nCino by 687.3% in the 3rd quarter. Marshall Wace LLP now owns 1,171,749 shares of the company’s stock worth $31,766,000 after buying an additional 1,022,911 shares in the last quarter. Finally, Balyasny Asset Management L.P. bought a new stake in nCino in the 2nd quarter worth about $26,238,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.

nCino Stock Performance

Shares of nCino stock opened at $15.32 on Monday. nCino Inc. has a 52 week low of $13.80 and a 52 week high of $33.92. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.31. The stock’s fifty day moving average is $16.64 and its two-hundred day moving average is $19.31. The company has a market capitalization of $1.68 billion, a PE ratio of 127.67 and a beta of 0.69.

nCino (NASDAQ:NCNO) last posted its quarterly earnings results on Tuesday, March 31st. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.16. nCino had a return on equity of 6.85% and a net margin of 2.17%.The business had revenue of $149.67 million for the quarter, compared to the consensus estimate of $147.41 million. During the same quarter in the prior year, the company earned $0.12 EPS. The business’s revenue was up 5.9% compared to the same quarter last year. As a group, analysts expect that nCino Inc. will post 0.68 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NCNO. Piper Sandler upgraded nCino from a “neutral” rating to an “overweight” rating and cut their price target for the company from $30.00 to $22.00 in a research note on Wednesday, April 1st. The Goldman Sachs Group lowered their price target on nCino from $24.00 to $21.00 and set a “neutral” rating on the stock in a report on Thursday, May 14th. Truist Financial lowered their price target on nCino from $27.00 to $19.00 and set a “hold” rating on the stock in a report on Wednesday, April 1st. Morgan Stanley decreased their price objective on nCino from $36.00 to $21.00 and set an “overweight” rating on the stock in a report on Monday, March 30th. Finally, Robert W. Baird decreased their price objective on nCino from $34.00 to $24.00 and set an “outperform” rating on the stock in a report on Tuesday, March 31st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $25.21.

Insider Activity at nCino

In related news, CEO Sean Desmond sold 8,064 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $16.26, for a total transaction of $131,120.64. Following the sale, the chief executive officer owned 1,262,492 shares of the company’s stock, valued at $20,528,119.92. This trade represents a 0.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Pierre Naude sold 35,650 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $18.02, for a total value of $642,413.00. Following the completion of the sale, the director owned 1,108,473 shares of the company’s stock, valued at approximately $19,974,683.46. This trade represents a 3.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 172,982 shares of company stock valued at $3,032,059 over the last 90 days. Company insiders own 1.90% of the company’s stock.

About nCino

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.