nCino (NASDAQ:NCNO) Research Coverage Started at UBS Group

UBS Group assumed coverage on shares of nCino (NASDAQ:NCNO) in a research report sent to investors on Monday morning, Marketbeat.com reports. The firm issued a buy rating and a $44.00 target price on the stock.

A number of other brokerages also recently issued reports on NCNO. Barclays increased their price target on shares of nCino from $34.00 to $44.00 and gave the stock an “equal weight” rating in a report on Monday, November 25th. Scotiabank increased their target price on shares of nCino from $36.00 to $46.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, December 4th. Raymond James upgraded shares of nCino from a “market perform” rating to an “outperform” rating and set a $38.00 price target for the company in a research report on Tuesday, September 3rd. Morgan Stanley lowered their price objective on nCino from $41.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Friday, December 6th. Finally, Piper Sandler restated a “neutral” rating and set a $38.00 target price on shares of nCino in a research report on Thursday, December 5th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

nCino Price Performance

Shares of NASDAQ NCNO opened at $34.38 on Monday. 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 fifty-two week low of $28.09 and a fifty-two week high of $43.20. The stock has a fifty day moving average of $38.61 and a 200-day moving average of $33.95.

Insider Activity

In other news, insider Sean Desmond sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $34.77, for a total value of $1,043,100.00. Following the completion of the sale, the insider now directly owns 341,511 shares in the company, valued at approximately $11,874,337.47. The trade was a 8.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Gregory Orenstein sold 3,885 shares of the company’s 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 completion of the sale, the chief financial officer now directly owns 276,892 shares of the company’s stock, valued at $9,705,064.60. This trade represents a 1.38 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,944,079 shares of company stock worth $180,523,026. 28.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On nCino

A number of large investors have recently added to or reduced their stakes in the business. Asset Management One Co. Ltd. grew its stake in shares of nCino by 21.1% during the third quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company’s stock valued at $62,000 after buying an additional 341 shares during the last quarter. Malaga Cove Capital LLC boosted its holdings in nCino by 3.0% during the 3rd quarter. Malaga Cove Capital LLC now owns 13,614 shares of the company’s stock valued at $430,000 after acquiring an additional 400 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in nCino by 3.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 14,602 shares of the company’s stock worth $459,000 after acquiring an additional 508 shares during the last quarter. Precision Wealth Strategies LLC increased its stake in nCino by 4.5% in the 3rd quarter. Precision Wealth Strategies LLC now owns 13,564 shares of the company’s stock worth $428,000 after purchasing an additional 589 shares during the period. Finally, Crewe Advisors LLC purchased a new position in nCino in the 2nd quarter worth approximately $26,000. Hedge funds and other institutional investors 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.