nCino (NASDAQ:NCNO) Raised to Overweight at Barclays

nCino (NASDAQ:NCNO) was upgraded by Barclays from an “equal weight” rating to an “overweight” rating in a research report issued on Monday, Marketbeat reports. The firm currently has a $44.00 target price on the stock. Barclays‘s price objective would indicate a potential upside of 31.11% from the company’s current price.

A number of other equities analysts also recently commented on the stock. Scotiabank upped 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. Morgan Stanley lowered their price target on nCino from $41.00 to $39.00 and set an “equal weight” rating for the company in a report on Friday, December 6th. Needham & Company LLC raised their price objective on nCino from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Macquarie upped their target price on nCino from $40.00 to $43.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Finally, Robert W. Baird dropped their price target on nCino from $43.00 to $42.00 and set a “neutral” rating on the stock in a research report on Thursday, December 5th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, nCino presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.50.

nCino Stock Down 1.7 %

Shares of NCNO opened at $33.56 on Monday. The firm has a fifty day moving average price of $38.01 and a 200-day moving average price of $34.32. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $3.89 billion, a P/E ratio of -197.40, a P/E/G ratio of 16.39 and a beta of 0.64. nCino has a 12-month low of $28.09 and a 12-month high of $43.20.

Insider Transactions at nCino

In other nCino news, Director William J. Ruh sold 10,000 shares of the business’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $37.50, for a total transaction of $375,000.00. Following the sale, the director now owns 226,201 shares in the company, valued at approximately $8,482,537.50. The trade was a 4.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Gregory Orenstein sold 3,885 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $35.05, for a total value of $136,169.25. Following the completion of the transaction, the chief financial officer now owns 276,892 shares of the company’s stock, valued at approximately $9,705,064.60. The trade was a 1.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,418,237 shares of company stock valued at $340,474,175 in the last 90 days. Insiders own 28.40% of the company’s stock.

Institutional Investors Weigh In On nCino

A number of large investors have recently bought and sold shares of the company. Principal Financial Group Inc. boosted its holdings in shares of nCino by 15.6% in the 2nd quarter. Principal Financial Group Inc. now owns 6,792 shares of the company’s stock valued at $214,000 after acquiring an additional 915 shares during the last quarter. Natixis Advisors LLC lifted its position in nCino by 30.6% during the second quarter. Natixis Advisors LLC now owns 13,889 shares of the company’s stock valued at $437,000 after purchasing an additional 3,257 shares during the period. Rhumbline Advisers boosted its holdings in nCino by 19.9% in the second quarter. Rhumbline Advisers now owns 92,426 shares of the company’s stock valued at $2,907,000 after purchasing an additional 15,362 shares during the last quarter. Victory Capital Management Inc. grew its position in nCino by 20.9% during the 2nd quarter. Victory Capital Management Inc. now owns 10,248 shares of the company’s stock worth $322,000 after purchasing an additional 1,772 shares during the period. Finally, Arizona State Retirement System raised its stake in shares of nCino by 25.7% during the 2nd quarter. Arizona State Retirement System now owns 17,586 shares of the company’s stock valued at $553,000 after buying an additional 3,595 shares during the last quarter. 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.