Azzad Asset Management Inc. ADV Has $2.72 Million Stake in nCino, Inc. (NASDAQ:NCNO)

Azzad Asset Management Inc. ADV lowered its position in nCino, Inc. (NASDAQ:NCNO) by 3.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 72,706 shares of the company’s stock after selling 2,347 shares during the period. Azzad Asset Management Inc. ADV’s holdings in nCino were worth $2,718,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of nCino in the 4th quarter valued at $25,336,000. Clearbridge Investments LLC raised its holdings in nCino by 96.1% during the fourth quarter. Clearbridge Investments LLC now owns 1,072,724 shares of the company’s stock worth $36,076,000 after buying an additional 525,605 shares during the last quarter. Wasatch Advisors LP raised its holdings in nCino by 18.9% during the fourth quarter. Wasatch Advisors LP now owns 2,253,248 shares of the company’s stock worth $75,777,000 after buying an additional 358,766 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in nCino by 20.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,034,908 shares of the company’s stock worth $34,807,000 after buying an additional 177,799 shares during the last quarter. Finally, Trust Co of the South acquired a new position in nCino during the fourth quarter worth $4,430,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on NCNO shares. Needham & Company LLC restated a “buy” rating and set a $42.00 price objective on shares of nCino in a report on Thursday, May 30th. William Blair reiterated an “outperform” rating on shares of nCino in a report on Wednesday, June 26th. Keefe, Bruyette & Woods began coverage on shares of nCino in a report on Tuesday, April 9th. They issued an “outperform” rating and a $41.00 target price for the company. Stephens reiterated an “equal weight” rating and issued a $35.00 target price on shares of nCino in a report on Thursday, May 30th. Finally, Morgan Stanley increased their target price on shares of nCino from $27.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, March 27th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $35.64.

nCino Stock Performance

NCNO opened at $31.26 on Thursday. The firm has a 50-day moving average of $30.87 and a 200 day moving average of $31.55. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.07 and a current ratio of 1.07. nCino, Inc. has a fifty-two week low of $27.13 and a fifty-two week high of $37.48.

nCino (NASDAQ:NCNO) last issued its earnings results on Wednesday, May 29th. The company reported $0.05 earnings per share for the quarter. The firm had revenue of $128.09 million during the quarter, compared to analyst estimates of $126.59 million. nCino had a negative net margin of 6.94% and a positive return on equity of 1.13%. As a group, sell-side analysts forecast that nCino, Inc. will post 0.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other nCino news, insider Sean Desmond sold 5,988 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $30.15, for a total transaction of $180,538.20. Following the completion of the transaction, the insider now owns 370,790 shares in the company, valued at $11,179,318.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Jeanette Sellers sold 2,153 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $30.33, for a total value of $65,300.49. Following the completion of the transaction, the vice president now directly owns 27,360 shares in the company, valued at $829,828.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sean Desmond sold 5,988 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $30.15, for a total transaction of $180,538.20. Following the completion of the transaction, the insider now owns 370,790 shares of the company’s stock, valued at $11,179,318.50. The disclosure for this sale can be found here. Insiders sold 2,419,488 shares of company stock worth $76,254,732 over the last quarter. 28.40% of the stock is currently owned by company insiders.

nCino 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.