Ranger Investment Management L.P. Reduces Stock Position in nCino Inc. $NCNO

Ranger Investment Management L.P. cut its stake in nCino Inc. (NASDAQ:NCNO) by 6.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,056,960 shares of the company’s stock after selling 75,904 shares during the quarter. Ranger Investment Management L.P.’s holdings in nCino were worth $15,833,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NCNO. Senvest Management LLC lifted its holdings in nCino by 30.2% during the 1st quarter. Senvest Management LLC now owns 5,308,468 shares of the company’s stock worth $79,521,000 after purchasing an additional 1,230,192 shares in the last quarter. Hawk Ridge Capital Management LP lifted its holdings in shares of nCino by 625.4% in the first quarter. Hawk Ridge Capital Management LP now owns 4,481,810 shares of the company’s stock worth $67,138,000 after buying an additional 3,864,010 shares in the last quarter. Spyglass Capital Management LLC boosted its position in shares of nCino by 35.4% in the fourth quarter. Spyglass Capital Management LLC now owns 2,909,880 shares of the company’s stock valued at $74,609,000 after acquiring an additional 760,790 shares during the period. Conestoga Capital Advisors LLC grew its stake in nCino by 25.7% during the fourth quarter. Conestoga Capital Advisors LLC now owns 2,861,024 shares of the company’s stock valued at $73,357,000 after acquiring an additional 585,786 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in nCino by 475.1% during the 3rd 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. 94.76% of the stock is currently owned by institutional investors.

nCino Price Performance

Shares of nCino stock opened at $18.51 on Wednesday. The firm has a market capitalization of $2.03 billion, a PE ratio of 154.25 and a beta of 0.68. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.31. nCino Inc. has a 12 month low of $13.80 and a 12 month high of $33.92. The business’s 50-day moving average price is $16.24 and its 200-day moving average price is $17.37.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NCNO shares. Citigroup restated a “market outperform” rating on shares of nCino in a research report on Monday, June 22nd. Truist Financial reduced their target price on nCino from $27.00 to $19.00 and set a “hold” rating for the company in a research report on Wednesday, April 1st. Wall Street Zen raised nCino from a “hold” rating to a “buy” rating in a report on Saturday, April 4th. Needham & Company LLC reissued a “buy” rating and set a $25.00 price objective on shares of nCino in a report on Thursday, May 28th. Finally, Barclays upped their price objective on shares of nCino from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 1st. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $25.29.

Insiders Place Their Bets

In other nCino news, CFO Gregory Orenstein sold 14,650 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $18.02, for a total transaction of $263,993.00. Following the transaction, the chief financial officer directly owned 702,293 shares in the company, valued at $12,655,319.86. This trade represents a 2.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider April Rieger sold 9,693 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $18.02, for a total transaction of $174,667.86. Following the completion of the sale, the insider owned 383,601 shares of the company’s stock, valued at approximately $6,912,490.02. The trade was a 2.46% 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 119,964 shares of company stock valued at $2,143,529 over the last 90 days. Company insiders own 1.90% of the company’s stock.

nCino Company Profile

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.