Azora Capital LP Has $31.03 Million Stake in nCino Inc. $NCNO

Azora Capital LP increased its stake in nCino Inc. (NASDAQ:NCNO) by 102.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,144,472 shares of the company’s stock after acquiring an additional 579,680 shares during the quarter. nCino accounts for approximately 1.4% of Azora Capital LP’s portfolio, making the stock its 27th largest position. Azora Capital LP’s holdings in nCino were worth $31,027,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Farther Finance Advisors LLC boosted its stake in nCino by 186.4% during the third quarter. Farther Finance Advisors LLC now owns 948 shares of the company’s stock worth $26,000 after acquiring an additional 617 shares in the last quarter. Advisors Asset Management Inc. increased its stake in nCino by 68.5% in the second quarter. Advisors Asset Management Inc. now owns 1,127 shares of the company’s stock valued at $32,000 after purchasing an additional 458 shares in the last quarter. AlphaQuest LLC increased its stake in nCino by 5,022.2% in the third quarter. AlphaQuest LLC now owns 1,383 shares of the company’s stock valued at $37,000 after purchasing an additional 1,356 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of nCino by 105.3% during the third quarter. Fifth Third Bancorp now owns 1,915 shares of the company’s stock valued at $52,000 after purchasing an additional 982 shares during the period. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of nCino during the third quarter valued at about $91,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

nCino Trading Down 1.0%

NASDAQ:NCNO opened at $15.07 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a 50-day moving average of $19.65 and a 200-day moving average of $24.21. The company has a market cap of $1.73 billion, a PE ratio of -83.72, a PEG ratio of 2.97 and a beta of 0.59. nCino Inc. has a one year low of $13.80 and a one year high of $33.92.

nCino declared that its Board of Directors has authorized a stock repurchase plan on Monday, December 8th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 3.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at nCino

In other news, CEO Sean Desmond sold 16,047 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $18.68, for a total value of $299,757.96. Following the completion of the sale, the chief executive officer directly owned 602,550 shares of the company’s stock, valued at $11,255,634. This represents a 2.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider April Rieger sold 8,078 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $18.68, for a total value of $150,897.04. Following the completion of the transaction, the insider owned 221,696 shares in the company, valued at $4,141,281.28. This represents a 3.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 71,310 shares of company stock worth $1,382,650. 5.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on NCNO. UBS Group reissued a “buy” rating and set a $36.00 price objective on shares of nCino in a research report on Tuesday, December 9th. Keefe, Bruyette & Woods upped their price target on nCino from $34.50 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday, December 4th. Truist Financial cut their price target on nCino from $32.00 to $27.00 and set a “hold” rating on the stock in a report on Thursday, December 4th. Barclays reduced their price objective on nCino from $37.00 to $34.00 and set an “overweight” rating for the company in a research note on Monday, January 5th. Finally, BTIG Research assumed coverage on nCino in a report on Tuesday, December 16th. They set a “neutral” rating for the company. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.33.

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.