Azora Capital LP Purchases 579,680 Shares of nCino Inc. $NCNO

Azora Capital LP increased its position in nCino Inc. (NASDAQ:NCNO) by 102.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,144,472 shares of the company’s stock after buying an additional 579,680 shares during the quarter. nCino accounts for approximately 1.4% of Azora Capital LP’s investment portfolio, making the stock its 27th largest position. Azora Capital LP owned approximately 0.99% of nCino worth $31,027,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Advisors Asset Management Inc. boosted its position in nCino by 68.5% during the 2nd quarter. Advisors Asset Management Inc. now owns 1,127 shares of the company’s stock worth $32,000 after buying an additional 458 shares during the period. US Bancorp DE grew its holdings in nCino by 1.6% during the 3rd quarter. US Bancorp DE now owns 32,042 shares of the company’s stock worth $869,000 after acquiring an additional 501 shares during the last quarter. Farther Finance Advisors LLC increased its position in nCino by 186.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 948 shares of the company’s stock valued at $26,000 after acquiring an additional 617 shares during the period. Vestmark Advisory Solutions Inc. raised its stake in shares of nCino by 5.8% during the third quarter. Vestmark Advisory Solutions Inc. now owns 15,980 shares of the company’s stock valued at $433,000 after acquiring an additional 872 shares during the last quarter. Finally, Fifth Third Bancorp raised its stake 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 acquiring an additional 982 shares during the last quarter. Institutional investors own 94.76% of the company’s stock.

Wall Street Analyst Weigh In

NCNO has been the topic of several analyst reports. UBS Group reissued a “buy” rating and issued a $36.00 price objective on shares of nCino in a research note on Tuesday, December 9th. Zacks Research lowered nCino from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $38.00 target price on shares of nCino in a report on Thursday, December 4th. BTIG Research started coverage on nCino in a research report on Tuesday, December 16th. They issued a “neutral” rating on the stock. Finally, Barclays decreased their price target on nCino from $37.00 to $34.00 and set an “overweight” rating for the company in a research note on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.33.

Insider Buying and Selling at nCino

In other nCino news, Director Pierre Naude sold 24,273 shares of the stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $18.68, for a total transaction of $453,419.64. Following the completion of the sale, the director directly owned 1,166,823 shares in the company, valued at approximately $21,796,253.64. This trade represents a 2.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider April Rieger sold 8,078 shares of nCino stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $18.68, for a total value of $150,897.04. Following the completion of the transaction, the insider directly owned 221,696 shares of the company’s stock, valued at approximately $4,141,281.28. This trade represents a 3.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 71,310 shares of company stock valued at $1,382,650. 5.70% of the stock is owned by corporate insiders.

nCino Trading Down 1.0%

NCNO opened at $15.07 on Friday. nCino Inc. has a twelve month low of $13.80 and a twelve month high of $33.92. The company has a fifty day moving average of $19.65 and a 200-day moving average of $24.21. The stock has a market cap of $1.73 billion, a PE ratio of -83.72, a price-to-earnings-growth ratio of 2.97 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 declared that its Board of Directors has initiated a stock buyback plan on Monday, December 8th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 3.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are 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.