Sepio Capital 13F: Adds $3.1M to nCino (NCNO) Stake

Sepio Capital boosted its stake in nCino, Inc. NCNO by 170,912 shares during the third quarter, according to a Form 13F filing with the Securities and Exchange Commission on October 22, 2026. The substantial increase brought the fund's total holding to 189,047 shares, representing a 942.4% jump from its prior position of 18,135 shares. The reported value of the stake reached about $3.4 million.

NCNO nCino, Inc.

$23.34 ▼ -5.31% year to date

1M 3M YTD

Daily close · Oct 22, 2026

What Changed in Sepio Capital's nCino Position

The sizable expansion lifted Sepio Capital's investment in the software provider significantly. The fund previously held 18,135 shares before adding the 170,912 new shares reported in the October filing.

Other Institutional Activity in nCino

Other major investment firms also adjusted their positions in the cloud banking software provider during recent periods. Senvest Management LLC grew its holdings by 2,017,743 shares, ending with 7,326,196 shares worth about $171.0 million. AQR Capital Management, LLC raised its stake by 4,650,108 shares to reach 7,102,050 shares valued at roughly $165.8 million. American Capital Management, Inc. added 2,732,160 shares, resulting in a total of 5,107,539 shares worth approximately $119.2 million. Conversely, HMI Capital Management, LP reduced its holdings by 1,787,384 shares, leaving it with 4,990,713 shares valued at about $116.5 million. Bank of Montreal /CAN/ increased its stake by 3,044,229 shares to hold 4,710,565 shares worth roughly $109.9 million.

nCino, Inc. Stock Up 6.1%

nCino, Inc. NCNO recently traded around $23.34, matching its close of $23.34 on October 22, 2026. The stock's current price sits above its 50-day moving average of $20.77 and well above its 200-day moving average of $18.35.

Recent Earnings

nCino reported trailing twelve-month revenue of $622.2 million alongside earnings of $0.32 per share. The company's next earnings report is scheduled for December 2, 2026.

Insider Buying and Selling at nCino, Inc.

Company executives executed four stock sales ahead of the filing. Chief Executive Officer Sean Desmond sold 8,064 shares at an average price of $23.66 on September 3, 2026, for a total of $190,794. Officer April Rieger sold 6,098 shares at $21.98 on September 15, 2026, totaling $134,052. Desmond later sold another 8,064 shares at $18.69 on October 5, 2026, worth $150,716, and subsequently disposed of 43,992 shares under a planned trading rule at $19.90 on October 9, 2026, valued at $875,441.

Analysts Set New Price Targets

Wall Street firms updated their outlooks on the software maker over recent months. Keefe, Bruyette & Woods maintained an outperform rating and raised its target from $24.00 to $25.00 on August 26, 2026. Morgan Stanley kept an overweight rating while lifting its target from $23.00 to $25.00 on the same day. Truist Securities maintained a hold rating and increased its target from $19.00 to $20.00 on August 26, 2026. Barclays kept an overweight rating and raised its target from $22.00 to $23.00 on August 26, 2026. Citizens maintained a market outperform rating and bumped its target from $23.00 to $25.00 on August 26, 2026. The stock currently carries a consensus buy recommendation from 12 analysts, with a mean price target of $24.42.

About nCino

nCino, Inc. builds cloud-based software solutions designed for banks and other financial institutions to streamline client onboarding, loan origination, and account opening processes. Its platform helps lenders automate workflows and manage regulatory compliance across global markets.

Bottom Line

Investors will look toward nCino's upcoming earnings release on December 2, 2026, for further updates on financial growth. Future institutional filings will clarify whether Sepio Capital maintains its larger commitment to the company.