nCino, Inc. (NASDAQ:NCNO) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of nCino, Inc. (NASDAQ:NCNO) have been assigned a consensus recommendation of “Moderate Buy” from the sixteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $42.50.

A number of brokerages recently issued reports on NCNO. KeyCorp reiterated a “sector weight” rating on shares of nCino in a research report on Monday, February 3rd. Scotiabank lifted their price objective on nCino from $36.00 to $46.00 and gave the stock a “sector outperform” rating in a report on Wednesday, December 4th. UBS Group started coverage on nCino in a research note on Monday, December 16th. They issued a “buy” rating and a $44.00 target price on the stock. Piper Sandler reissued a “neutral” rating and issued a $38.00 target price on shares of nCino in a research note on Thursday, December 5th. Finally, Morgan Stanley cut 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.

Insider Activity at nCino

In related news, Director Jeff Horing sold 54,876 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $35.00, for a total transaction of $1,920,660.00. Following the completion of the transaction, the director now directly owns 4,458,591 shares in the company, valued at $156,050,685. The trade was a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sean Desmond sold 5,034 shares of the company’s stock in a transaction dated 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 owns 306,477 shares of the company’s stock, valued at approximately $9,991,150.20. This trade represents a 1.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 86,877 shares of company stock valued at $2,963,893 over the last ninety days. 28.40% of the stock is owned by company insiders.

Institutional Trading of nCino

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of nCino by 9.6% in the 4th quarter. Vanguard Group Inc. now owns 10,830,773 shares of the company’s stock worth $363,697,000 after acquiring an additional 948,282 shares during the last quarter. Wasatch Advisors LP grew its position in shares of nCino by 171.9% in the 4th quarter. Wasatch Advisors LP now owns 6,177,783 shares of the company’s stock valued at $207,450,000 after buying an additional 3,905,802 shares during the last quarter. Capital International Investors grew its position in nCino by 57.4% during the 4th quarter. Capital International Investors now owns 4,691,204 shares of the company’s stock worth $157,531,000 after purchasing an additional 1,710,893 shares during the last quarter. Long Path Partners LP grew its position in nCino by 43.7% during the 3rd quarter. Long Path Partners LP now owns 3,721,406 shares of the company’s stock worth $117,559,000 after purchasing an additional 1,131,271 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its stake in shares of nCino by 139.8% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,241,017 shares of the company’s stock worth $108,834,000 after acquiring an additional 1,889,283 shares during the period. Hedge funds and other institutional investors own 94.76% of the company’s stock.

nCino Price Performance

nCino stock opened at $28.51 on Wednesday. nCino has a one year low of $27.29 and a one year high of $43.20. The business has a fifty day moving average price of $32.08 and a 200-day moving average price of $34.26. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95. The firm has a market capitalization of $3.30 billion, a P/E ratio of -167.70, a PEG ratio of 5.77 and a beta of 0.66.

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.