Janus Henderson Group PLC Raises Position in nCino Inc. $NCNO

Janus Henderson Group PLC boosted its holdings in shares of nCino Inc. (NASDAQ:NCNO) by 4.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 817,076 shares of the company’s stock after buying an additional 38,228 shares during the period. Janus Henderson Group PLC owned approximately 0.75% of nCino worth $12,239,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. CWM LLC increased its stake in nCino by 255.8% in the 4th quarter. CWM LLC now owns 1,142 shares of the company’s stock worth $29,000 after acquiring an additional 821 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of nCino during the 4th quarter valued at about $38,000. Farther Finance Advisors LLC grew its holdings in shares of nCino by 76.2% during the fourth quarter. Farther Finance Advisors LLC now owns 1,670 shares of the company’s stock worth $43,000 after purchasing an additional 722 shares in the last quarter. Quarry LP grew its holdings in shares of nCino by 138.2% during the third quarter. Quarry LP now owns 1,701 shares of the company’s stock worth $46,000 after purchasing an additional 987 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of nCino by 5,250.0% in the first quarter. EverSource Wealth Advisors LLC now owns 3,317 shares of the company’s stock worth $50,000 after purchasing an additional 3,255 shares during the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other nCino news, CEO Sean Desmond sold 8,064 shares of the business’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $17.47, for a total value of $140,878.08. Following the completion of the sale, the chief executive officer directly owned 1,262,492 shares of the company’s stock, valued at $22,055,735.24. The trade was a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.90% of the stock is owned by corporate insiders.

nCino Price Performance

Shares of nCino stock opened at $19.50 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.89 and a current ratio of 0.89. nCino Inc. has a 52-week low of $13.80 and a 52-week high of $33.92. The company has a fifty day moving average of $16.56 and a 200-day moving average of $17.15. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of 162.50 and a beta of 0.66.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on NCNO shares. JPMorgan Chase & Co. raised their target price on shares of nCino from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Monday, June 22nd. Citizens Jmp decreased their price target on shares of nCino from $32.00 to $23.00 and set a “market outperform” rating on the stock in a report on Monday, May 18th. Keefe, Bruyette & Woods restated an “outperform” rating on shares of nCino in a research report on Wednesday, June 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $25.00 price objective on shares of nCino in a report on Thursday, May 28th. Finally, Weiss Ratings raised shares of nCino from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $25.29.

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.