nCino (NASDAQ:NCNO) Given New $42.00 Price Target at Raymond James

nCino (NASDAQ:NCNO) had its price objective cut by Raymond James from $44.00 to $42.00 in a report issued on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

NCNO has been the topic of a number of other research reports. UBS Group assumed coverage on shares of nCino in a research note on Monday, December 16th. They set a “buy” rating and a $44.00 price target on the stock. Piper Sandler reaffirmed a “neutral” rating and issued a $38.00 price target on shares of nCino in a report on Thursday, December 5th. Needham & Company LLC lifted their price target on nCino from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Stephens restated an “equal weight” rating and set a $38.00 price objective on shares of nCino in a research report on Thursday, March 20th. Finally, William Blair reiterated an “outperform” rating on shares of nCino in a report on Thursday, December 5th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $42.79.

nCino Trading Up 1.4 %

Shares of NCNO stock opened at $29.38 on Tuesday. The stock’s 50-day moving average price is $31.66 and its 200-day moving average price is $34.22. nCino has a 12-month low of $27.29 and a 12-month high of $43.20. The stock has a market capitalization of $3.40 billion, a price-to-earnings ratio of -172.81, a price-to-earnings-growth ratio of 5.77 and a beta of 0.66. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20.

Insider Transactions at nCino

In related news, insider April Rieger sold 4,325 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total transaction of $140,995.00. Following the completion of the sale, the insider now directly owns 145,953 shares in the company, valued at $4,758,067.80. This represents a 2.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Sean Desmond sold 5,034 shares of nCino stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total transaction of $164,108.40. Following the completion of the transaction, the chief executive officer now directly owns 306,477 shares in the company, valued at approximately $9,991,150.20. The trade was a 1.62 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 86,877 shares of company stock valued at $2,963,893. Company insiders own 28.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Fifth Third Bancorp purchased a new stake in shares of nCino during the fourth quarter valued at $34,000. Hilltop National Bank purchased a new stake in nCino during the 4th quarter valued at about $37,000. Johnson Financial Group Inc. acquired a new position in shares of nCino in the fourth quarter valued at about $57,000. Asset Management One Co. Ltd. raised its stake in shares of nCino by 16.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company’s stock worth $78,000 after purchasing an additional 323 shares during the last quarter. Finally, West Tower Group LLC acquired a new stake in shares of nCino during the third quarter worth about $126,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

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 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.