Ranger Investment Management L.P. Invests $15.94 Million in nCino Inc. $NCNO

Ranger Investment Management L.P. bought a new position in nCino Inc. (NASDAQ:NCNO) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 975,055 shares of the company’s stock, valued at approximately $15,942,000.

Several other institutional investors have also added to or reduced their stakes in the company. CWM LLC boosted its position in shares of nCino by 255.8% during the 4th quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $29,000 after acquiring an additional 821 shares during the last quarter. Optiver Holding B.V. purchased a new stake in nCino during the first quarter valued at $32,000. Los Angeles Capital Management LLC bought a new position in nCino during the fourth quarter valued at $38,000. Versant Capital Management Inc lifted its position in nCino by 664.9% during the second quarter. Versant Capital Management Inc now owns 2,417 shares of the company’s stock valued at $40,000 after purchasing an additional 2,101 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its stake in shares of nCino by 76.2% in the 4th quarter. Farther Finance Advisors LLC now owns 1,670 shares of the company’s stock worth $43,000 after buying an additional 722 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of nCino from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, May 28th. JPMorgan Chase & Co. lifted their price target on nCino from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Monday, June 22nd. Citigroup reissued a “market outperform” rating on shares of nCino in a research note on Monday, June 22nd. Citizens Jmp decreased their price objective on nCino from $32.00 to $23.00 and set a “market outperform” rating on the stock in a research report on Monday, May 18th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $25.00 price objective on shares of nCino in a research note on Thursday, May 28th. One 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’s stock. According to MarketBeat.com, nCino presently has a consensus rating of “Moderate Buy” and an average price target of $25.29.

Insider Transactions at nCino

In other news, Director Pierre Naude sold 4,677 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $19.22, for a total value of $89,891.94. Following the completion of the sale, the director owned 1,116,707 shares in the company, valued at approximately $21,463,108.54. This trade represents a 0.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Sean Desmond sold 11,815 shares of nCino stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $19.53, for a total transaction of $230,746.95. Following the transaction, the chief executive officer directly owned 1,231,080 shares of the company’s stock, valued at approximately $24,042,992.40. This represents a 0.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 83,350 shares of company stock worth $1,568,144. 1.90% of the stock is currently owned by insiders.

nCino Price Performance

NASDAQ NCNO opened at $20.62 on Monday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.31. nCino Inc. has a 52 week low of $13.80 and a 52 week high of $33.92. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 171.83 and a beta of 0.66. The company has a fifty day moving average of $17.66 and a two-hundred day moving average of $16.84.

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.