Trust Co of the South Has $1.99 Million Stake in nCino Inc. $NCNO

Trust Co of the South lowered its stake in nCino Inc. (NASDAQ:NCNO) by 41.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 77,722 shares of the company’s stock after selling 54,000 shares during the quarter. Trust Co of the South’s holdings in nCino were worth $1,993,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in nCino by 1.7% during the third quarter. Vanguard Group Inc. now owns 11,924,703 shares of the company’s stock worth $323,279,000 after acquiring an additional 201,499 shares in the last quarter. Long Path Partners LP raised its holdings in shares of nCino by 61.1% during the second quarter. Long Path Partners LP now owns 4,787,869 shares of the company’s stock valued at $133,917,000 after purchasing an additional 1,815,868 shares during the period. Bank of America Corp DE boosted its position in shares of 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 purchasing an additional 2,076,579 shares in the last quarter. Spyglass Capital Management LLC grew its stake in shares of nCino by 36.0% in the 3rd quarter. Spyglass Capital Management LLC now owns 2,149,090 shares of the company’s stock valued at $58,262,000 after buying an additional 569,166 shares during the period. Finally, Bamco Inc. NY increased its position in nCino by 12.0% in the 2nd quarter. Bamco Inc. NY now owns 2,052,953 shares of the company’s stock valued at $57,421,000 after buying an additional 220,028 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Needham & Company LLC reissued a “buy” rating and issued a $38.00 price objective on shares of nCino in a research note on Thursday, December 4th. Zacks Research lowered nCino from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. JPMorgan Chase & Co. cut their target price on nCino from $30.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, February 18th. UBS Group restated a “buy” rating and set a $36.00 price target on shares of nCino in a research note on Tuesday, December 9th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of nCino in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $32.33.

Insider Activity

In related news, CFO Gregory Orenstein sold 10,562 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $18.68, for a total transaction of $197,298.16. Following the transaction, the chief financial officer directly owned 451,184 shares in the company, valued at approximately $8,428,117.12. The trade was a 2.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sean Desmond sold 16,047 shares of the stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $18.68, for a total transaction of $299,757.96. Following the completion of the sale, the chief executive officer owned 602,550 shares of the company’s stock, valued at approximately $11,255,634. This trade represents a 2.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 69,803 shares of company stock worth $1,345,743. Company insiders own 5.70% of the company’s stock.

nCino Stock Up 2.0%

Shares of NASDAQ:NCNO opened at $15.50 on Friday. The business’s 50 day moving average is $18.88 and its 200 day moving average is $23.80. nCino Inc. has a 12-month low of $13.80 and a 12-month high of $33.92. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of -86.11, a PEG ratio of 2.99 and a beta of 0.59. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.24.

nCino announced that its Board of Directors has approved a share buyback plan on Monday, December 8th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to repurchase up to 3.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

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.