nCino (NASDAQ:NCNO) Stock Rating Reaffirmed by William Blair

nCino (NASDAQ:NCNO)‘s stock had its “outperform” rating restated by research analysts at William Blair in a research note issued on Wednesday, RTT News reports.

Several other brokerages have also weighed in on NCNO. Needham & Company LLC upped their target price on shares of nCino from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday. Piper Sandler reiterated an “overweight” rating and issued a $42.00 price objective on shares of nCino in a research report on Wednesday. Truist Financial dropped their target price on shares of nCino from $40.00 to $37.00 and set a “buy” rating on the stock in a research report on Thursday, November 30th. Robert W. Baird lifted their target price on shares of nCino from $34.00 to $36.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Morgan Stanley raised shares of nCino from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $24.00 to $27.00 in a research report on Friday, March 15th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $35.40.

nCino Stock Up 4.1 %

nCino stock opened at $37.38 on Wednesday. The firm has a 50 day moving average price of $30.79 and a 200 day moving average price of $30.77. The company has a market capitalization of $4.23 billion, a PE ratio of -98.37, a price-to-earnings-growth ratio of 11.07 and a beta of 0.44. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.10 and a current ratio of 1.10. nCino has a fifty-two week low of $21.26 and a fifty-two week high of $37.48.

Insider Activity

In other news, insider April Rieger sold 1,460 shares of the firm’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $30.66, for a total value of $44,763.60. Following the transaction, the insider now owns 149,078 shares of the company’s stock, valued at approximately $4,570,731.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Gregory Orenstein sold 1,814 shares of nCino stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $31.22, for a total value of $56,633.08. Following the sale, the chief financial officer now directly owns 220,715 shares in the company, valued at $6,890,722.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider April Rieger sold 1,460 shares of the firm’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $30.66, for a total transaction of $44,763.60. Following the completion of the transaction, the insider now directly owns 149,078 shares of the company’s stock, valued at $4,570,731.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,935 shares of company stock valued at $1,069,845. 38.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On nCino

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NCNO. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of nCino by 36.3% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 6,277 shares of the company’s stock worth $257,000 after buying an additional 1,672 shares in the last quarter. MetLife Investment Management LLC acquired a new position in nCino during the first quarter worth about $149,000. Blair William & Co. IL bought a new stake in shares of nCino during the first quarter worth about $1,064,000. Canada Pension Plan Investment Board grew its holdings in shares of nCino by 682.8% during the first quarter. Canada Pension Plan Investment Board now owns 6,936 shares of the company’s stock worth $284,000 after purchasing an additional 6,050 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of nCino by 11.0% during the first quarter. Vanguard Group Inc. now owns 5,691,682 shares of the company’s stock worth $233,246,000 after purchasing an additional 564,654 shares during the last quarter. 94.76% of the stock is owned by institutional investors.

nCino Company 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, 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.