nCino (NASDAQ:NCNO) Now Covered by Analysts at UBS Group

UBS Group assumed coverage on shares of nCino (NASDAQ:NCNO) in a report published on Monday, MarketBeat reports. The brokerage issued a buy rating and a $44.00 price target on the stock.

A number of other research firms have also recently issued reports on NCNO. Barclays upped their price objective on shares of nCino from $34.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Monday, November 25th. Macquarie increased their price target on nCino from $40.00 to $43.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Robert W. Baird reduced their price objective on nCino from $43.00 to $42.00 and set a “neutral” rating on the stock in a research report on Thursday, December 5th. Morgan Stanley dropped their target price on nCino from $41.00 to $39.00 and set an “equal weight” rating for the company in a research report on Friday, December 6th. Finally, Needham & Company LLC boosted their price target on nCino from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $42.50.

nCino Stock Up 1.4 %

Shares of NASDAQ NCNO opened at $35.96 on Monday. The company has a market cap of $4.16 billion, a price-to-earnings ratio of -211.53, a PEG ratio of 16.82 and a beta of 0.59. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20. nCino has a 12 month low of $28.09 and a 12 month high of $43.20. The stock has a 50-day moving average price of $38.48 and a two-hundred day moving average price of $33.91.

Insider Transactions at nCino

In related news, CFO Gregory Orenstein sold 3,885 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $35.05, for a total transaction of $136,169.25. Following the transaction, the chief financial officer now directly owns 276,892 shares of the company’s stock, valued at $9,705,064.60. This represents a 1.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sean Desmond sold 30,000 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $34.77, for a total transaction of $1,043,100.00. Following the transaction, the insider now owns 341,511 shares in the company, valued at $11,874,337.47. This represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,852,703 shares of company stock valued at $177,212,673. Corporate insiders own 28.40% of the company’s stock.

Institutional Trading of nCino

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NCNO. Franklin Resources Inc. grew its stake in nCino by 46.0% in the third quarter. Franklin Resources Inc. now owns 1,092,862 shares of the company’s stock valued at $38,327,000 after acquiring an additional 344,269 shares during the period. Synovus Financial Corp bought a new position in shares of nCino in the 3rd quarter worth $656,000. Sanctuary Advisors LLC acquired a new stake in nCino in the 3rd quarter valued at $189,000. Geode Capital Management LLC increased its stake in nCino by 26.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,517,512 shares of the company’s stock valued at $47,951,000 after purchasing an additional 313,637 shares in the last quarter. Finally, Bullseye Asset Management LLC raised its holdings in nCino by 58.5% during the third quarter. Bullseye Asset Management LLC now owns 140,878 shares of the company’s stock worth $4,451,000 after buying an additional 52,000 shares during the last quarter. 94.76% of the stock is owned by institutional investors.

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.