nCino (NASDAQ:NCNO) Receives Outperform Rating from William Blair

William Blair restated their outperform rating on shares of nCino (NASDAQ:NCNO) in a research report report published on Wednesday morning, RTT News reports.

NCNO has been the topic of several other research reports. Piper Sandler cut their price target on shares of nCino from $42.00 to $38.00 and set an overweight rating on the stock in a report on Thursday, May 30th. Robert W. Baird lowered their price objective on shares of nCino from $37.00 to $36.00 and set a neutral rating for the company in a report on Thursday, May 30th. Morgan Stanley upped their target price on nCino from $27.00 to $30.00 and gave the stock an equal weight rating in a report on Wednesday, March 27th. Stephens reissued an equal weight rating and issued a $35.00 target price on shares of nCino in a research report on Thursday, May 30th. Finally, Keefe, Bruyette & Woods started coverage on nCino in a research report on Tuesday, April 9th. They set an outperform rating and a $41.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, nCino currently has a consensus rating of Moderate Buy and a consensus price target of $35.64.

nCino Trading Down 0.1 %

Shares of NCNO opened at $31.47 on Wednesday. The firm has a fifty day simple moving average of $30.72 and a two-hundred day simple moving average of $31.52. nCino has a twelve month low of $27.13 and a twelve month high of $37.48. The stock has a market capitalization of $3.62 billion, a P/E ratio of -101.51, a PEG ratio of 17.19 and a beta of 0.59. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.10.

nCino (NASDAQ:NCNO) last posted its earnings results on Wednesday, May 29th. The company reported $0.05 earnings per share (EPS) for the quarter. The company had revenue of $128.09 million for the quarter, compared to analysts’ expectations of $126.59 million. nCino had a positive return on equity of 1.13% and a negative net margin of 6.94%. On average, research analysts anticipate that nCino will post 0.08 EPS for the current year.

Insider Transactions at nCino

In related news, Director Insight Holdings Group, Llc sold 138,319 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $31.53, for a total transaction of $4,361,198.07. Following the sale, the director now directly owns 135,015 shares of the company’s stock, valued at approximately $4,257,022.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Insight Holdings Group, Llc sold 138,319 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $31.53, for a total value of $4,361,198.07. Following the transaction, the director now directly owns 135,015 shares of the company’s stock, valued at approximately $4,257,022.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Gregory Orenstein sold 2,410 shares of nCino stock in a transaction on Monday, April 8th. The stock was sold at an average price of $34.41, for a total value of $82,928.10. Following the completion of the sale, the chief financial officer now directly owns 295,246 shares of the company’s stock, valued at approximately $10,159,414.86. The disclosure for this sale can be found here. Insiders sold a total of 3,320,162 shares of company stock valued at $108,460,741 in the last quarter. 28.40% of the stock is owned by insiders.

Institutional Trading of nCino

A number of institutional investors have recently made changes to their positions in NCNO. Capital International Investors bought a new position in nCino during the first quarter valued at approximately $60,703,000. Norges Bank purchased a new stake in nCino during the 4th quarter valued at $25,336,000. Clearbridge Investments LLC lifted its holdings in shares of nCino by 96.1% during the 4th quarter. Clearbridge Investments LLC now owns 1,072,724 shares of the company’s stock valued at $36,076,000 after buying an additional 525,605 shares during the period. Norden Group LLC boosted its stake in shares of nCino by 2,388.5% in the 1st quarter. Norden Group LLC now owns 454,665 shares of the company’s stock worth $16,995,000 after buying an additional 436,394 shares during the last quarter. Finally, Bamco Inc. NY grew its holdings in shares of nCino by 83.7% in the first quarter. Bamco Inc. NY now owns 925,000 shares of the company’s stock worth $34,576,000 after acquiring an additional 421,500 shares during the period. Hedge funds and other institutional investors own 94.76% of the company’s stock.

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 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.