Arizona State Retirement System Has $553,000 Stake in nCino, Inc. (NASDAQ:NCNO)

Arizona State Retirement System grew its position in nCino, Inc. (NASDAQ:NCNO) by 25.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,586 shares of the company’s stock after purchasing an additional 3,595 shares during the quarter. Arizona State Retirement System’s holdings in nCino were worth $553,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of nCino by 2.1% in the first quarter. Vanguard Group Inc. now owns 7,122,722 shares of the company’s stock valued at $266,247,000 after buying an additional 148,390 shares during the period. Wasatch Advisors LP boosted its stake in shares of nCino by 18.9% in the fourth quarter. Wasatch Advisors LP now owns 2,253,248 shares of the company’s stock valued at $75,777,000 after buying an additional 358,766 shares during the period. Meritage Group LP boosted its stake in shares of nCino by 2.3% in the first quarter. Meritage Group LP now owns 1,750,954 shares of the company’s stock valued at $65,451,000 after buying an additional 39,828 shares during the period. Capital International Investors bought a new stake in shares of nCino in the first quarter valued at approximately $60,703,000. Finally, Clearbridge Investments LLC boosted its stake in shares of nCino by 14.7% in the first quarter. Clearbridge Investments LLC now owns 1,230,194 shares of the company’s stock valued at $45,985,000 after buying an additional 157,470 shares during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

nCino Stock Performance

NASDAQ NCNO opened at $29.69 on Tuesday. The company has a market capitalization of $3.42 billion, a price-to-earnings ratio of -95.77, a PEG ratio of 22.77 and a beta of 0.58. nCino, Inc. has a twelve month low of $27.13 and a twelve month high of $37.48. The stock has a fifty day simple moving average of $31.88 and a 200 day simple moving average of $31.41. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.09.

nCino (NASDAQ:NCNO) last posted its quarterly earnings data on Tuesday, August 27th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The business had revenue of $132.40 million during the quarter, compared to the consensus estimate of $131.06 million. nCino had a positive return on equity of 1.06% and a negative net margin of 5.78%. nCino’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.02) earnings per share. Sell-side analysts expect that nCino, Inc. will post 0.06 EPS for the current year.

Analyst Ratings Changes

NCNO has been the subject of several recent analyst reports. Raymond James upgraded nCino from a “market perform” rating to an “outperform” rating and set a $38.00 target price for the company in a research note on Tuesday, September 3rd. Robert W. Baird cut their target price on nCino from $37.00 to $36.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. The Goldman Sachs Group upgraded nCino from a “neutral” rating to a “buy” rating and upped their target price for the stock from $34.00 to $42.00 in a research note on Wednesday, August 14th. William Blair restated an “outperform” rating on shares of nCino in a research note on Wednesday, August 28th. Finally, Needham & Company LLC cut their target price on nCino from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, August 28th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, nCino presently has an average rating of “Moderate Buy” and a consensus price target of $38.00.

Insider Activity at nCino

In other nCino news, Director Insight Holdings Group, Llc sold 1,981,514 shares of the stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $31.08, for a total transaction of $61,585,455.12. Following the completion of the sale, the director now directly owns 1,545,347 shares in the company, valued at approximately $48,029,384.76. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other nCino news, insider April Rieger sold 8,856 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $31.23, for a total transaction of $276,572.88. Following the completion of the sale, the insider now directly owns 165,791 shares in the company, valued at approximately $5,177,652.93. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Insight Holdings Group, Llc sold 1,981,514 shares of the firm’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $31.08, for a total value of $61,585,455.12. Following the completion of the sale, the director now owns 1,545,347 shares of the company’s stock, valued at $48,029,384.76. The disclosure for this sale can be found here. Insiders sold 4,741,422 shares of company stock worth $152,380,666 over the last three months. Company insiders own 28.40% of the company’s stock.

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.