nCino, Inc. (NASDAQ:NCNO) Shares Purchased by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV boosted its stake in shares of nCino, Inc. (NASDAQ:NCNO) by 5.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 43,355 shares of the company’s stock after buying an additional 2,050 shares during the period. Azzad Asset Management Inc. ADV’s holdings in nCino were worth $1,191,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Amundi raised its holdings in shares of nCino by 312.1% during the 4th quarter. Amundi now owns 6,004 shares of the company’s stock worth $201,000 after acquiring an additional 4,547 shares during the period. Northern Trust Corp increased its position in nCino by 14.1% during the fourth quarter. Northern Trust Corp now owns 612,902 shares of the company’s stock worth $20,581,000 after purchasing an additional 75,592 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in nCino by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 566,627 shares of the company’s stock worth $19,027,000 after purchasing an additional 9,870 shares during the period. OFI Invest Asset Management purchased a new position in nCino during the fourth quarter worth about $311,000. Finally, Picton Mahoney Asset Management boosted its holdings in nCino by 94.5% in the 4th quarter. Picton Mahoney Asset Management now owns 390,752 shares of the company’s stock valued at $13,122,000 after purchasing an additional 189,827 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Insider Buying and Selling

In other nCino news, Director Pierre Naude sold 31,123 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $20.86, for a total value of $649,225.78. Following the sale, the director now directly owns 1,066,090 shares of the company’s stock, valued at approximately $22,238,637.40. This represents a 2.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider April Rieger sold 6,589 shares of nCino stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $23.00, for a total transaction of $151,547.00. Following the sale, the insider now directly owns 243,551 shares of the company’s stock, valued at approximately $5,601,673. This trade represents a 2.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 141,060 shares of company stock valued at $3,101,115 in the last three months. 5.70% of the stock is owned by corporate insiders.

nCino Trading Down 1.7%

NASDAQ NCNO opened at $26.99 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95. The firm has a market cap of $3.13 billion, a price-to-earnings ratio of -158.76, a PEG ratio of 5.77 and a beta of 0.76. The firm has a 50 day simple moving average of $24.77 and a 200-day simple moving average of $29.81. nCino, Inc. has a one year low of $18.75 and a one year high of $43.20.

nCino (NASDAQ:NCNO) last released its earnings results on Tuesday, April 1st. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.06). The business had revenue of $141.37 million for the quarter, compared to analyst estimates of $140.81 million. nCino had a positive return on equity of 1.62% and a negative net margin of 3.46%. nCino’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.21 earnings per share. Equities research analysts anticipate that nCino, Inc. will post 0.12 EPS for the current fiscal year.

nCino declared that its board has approved a stock repurchase plan on Tuesday, April 1st that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group downgraded shares of nCino from a “buy” rating to a “neutral” rating and cut their price target for the stock from $42.00 to $24.00 in a report on Wednesday, April 2nd. Truist Financial raised their target price on nCino from $21.00 to $27.00 and gave the stock a “hold” rating in a research note on Thursday, May 29th. Raymond James decreased their price target on nCino from $42.00 to $32.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 2nd. Barclays reissued an “overweight” rating and set a $31.00 price objective (up from $24.00) on shares of nCino in a research report on Thursday, May 29th. Finally, UBS Group set a $28.00 price objective on shares of nCino in a report on Thursday, May 29th. Ten equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $31.00.

nCino Company Profile

nCino, Inc, a software-as-a-service company, provides cloud-based software applications to financial institutions in the United States and internationally. Its nCino Bank Operating System connects financial institution employees, clients and third parties on a single cloud-based platform which include client onboarding, deposit account opening, loan origination, end-to-end mortgage suite, and powerful ecosystem.