nCino (NASDAQ:NCNO) Hits New 1-Year High Following Analyst Upgrade

nCino, Inc. (NASDAQ:NCNO)’s share price reached a new 52-week high during trading on Wednesday after Morgan Stanley raised their price target on the stock from $27.00 to $30.00. Morgan Stanley currently has an equal weight rating on the stock. nCino traded as high as $36.65 and last traded at $35.81, with a volume of 2254969 shares trading hands. The stock had previously closed at $30.18.

Several other research analysts have also recently issued reports on NCNO. Needham & Company LLC raised their price objective on nCino from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday. William Blair reaffirmed an “outperform” rating on shares of nCino in a report on Wednesday. Piper Sandler reaffirmed an “overweight” rating and set a $42.00 target price on shares of nCino in a report on Wednesday. Truist Financial dropped their target price on nCino from $40.00 to $37.00 and set a “buy” rating on the stock in a report on Thursday, November 30th. Finally, Robert W. Baird raised their target price on nCino from $34.00 to $36.00 and gave the stock a “neutral” rating in a report on Wednesday. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $35.40.

Insider Activity

In other news, Director Steven A. Collins sold 3,700 shares of the firm’s stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $35.56, for a total value of $131,572.00. Following the transaction, the director now owns 67,216 shares in the company, valued at $2,390,200.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Steven A. Collins sold 3,700 shares of nCino stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $35.56, for a total transaction of $131,572.00. Following the transaction, the director now owns 67,216 shares in the company, valued at $2,390,200.96. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Jeanette Sellers sold 894 shares of nCino stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $31.18, for a total value of $27,874.92. Following the transaction, the vice president now owns 20,770 shares in the company, valued at approximately $647,608.60. The disclosure for this sale can be found here. Insiders have sold a total of 32,935 shares of company stock worth $1,069,845 over the last quarter. 38.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On nCino

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nomura Holdings Inc. acquired a new stake in shares of nCino in the fourth quarter valued at $211,000. Bullseye Asset Management LLC grew its stake in shares of nCino by 35.3% in the fourth quarter. Bullseye Asset Management LLC now owns 57,878 shares of the company’s stock valued at $1,946,000 after buying an additional 15,100 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of nCino by 17.4% in the fourth quarter. Public Employees Retirement System of Ohio now owns 135,469 shares of the company’s stock valued at $4,556,000 after buying an additional 20,092 shares in the last quarter. Townsquare Capital LLC grew its stake in shares of nCino by 1.1% in the fourth quarter. Townsquare Capital LLC now owns 191,879 shares of the company’s stock valued at $6,453,000 after buying an additional 2,103 shares in the last quarter. Finally, Vista Equity Partners Management LLC grew its stake in shares of nCino by 74.4% in the fourth quarter. Vista Equity Partners Management LLC now owns 468,803 shares of the company’s stock valued at $15,766,000 after buying an additional 199,926 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

nCino Price Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a 50 day moving average price of $30.79 and a two-hundred day moving average price of $30.77. The firm has a market capitalization of $4.23 billion, a price-to-earnings ratio of -98.37, a PEG ratio of 11.07 and a beta of 0.44.

About nCino

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, a secure cloud-based solution, which empowers bank employees and leaders with true insight into the bank through an end-to-end platform that spans business lines and combines customer relationship management, customer onboarding, account opening, loan origination, deposit accounts, workflow, credit analysis, enterprise content management, and instant reporting capabilities.