nCino (NASDAQ:NCNO) Price Target Raised to $49.00

nCino (NASDAQ:NCNO) had its price objective raised by Keefe, Bruyette & Woods from $41.00 to $49.00 in a research note issued to investors on Monday,Benzinga reports. They currently have an outperform rating on the stock.

Other research analysts also recently issued research reports about the company. Needham & Company LLC reduced their price objective on nCino from $42.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, August 28th. William Blair reaffirmed an “outperform” rating on shares of nCino in a report on Wednesday, August 28th. Macquarie reaffirmed an “outperform” rating and set a $40.00 price objective on shares of nCino in a report on Wednesday, October 23rd. JMP Securities reaffirmed a “market outperform” rating and set a $43.00 price objective on shares of nCino in a report on Wednesday, August 28th. Finally, Piper Sandler reissued an “overweight” rating and issued a $38.00 price target on shares of nCino in a research note on Wednesday, August 28th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $41.23.

nCino Stock Up 2.4 %

NASDAQ:NCNO opened at $42.50 on Monday. The stock’s fifty day moving average price is $37.34 and its two-hundred day moving average price is $33.51. nCino has a 52-week low of $28.09 and a 52-week high of $43.20. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market cap of $4.91 billion, a price-to-earnings ratio of -157.29, a P/E/G ratio of 34.46 and a beta of 0.59.

Insider Activity at nCino

In related news, Director Jeff Horing sold 1,833,975 shares of the company’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $36.62, for a total value of $67,160,164.50. Following the completion of the sale, the director now owns 12,513,467 shares in the company, valued at $458,243,161.54. This represents a 12.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director William J. Ruh sold 10,000 shares of the company’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $37.50, for a total transaction of $375,000.00. Following the completion of the sale, the director now owns 226,201 shares of the company’s stock, valued at approximately $8,482,537.50. This represents a 4.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,235,029 shares of company stock worth $117,599,204 in the last quarter. Corporate insiders own 28.40% of the company’s stock.

Hedge Funds Weigh In On nCino

Hedge funds have recently modified their holdings of the stock. Simplicity Wealth LLC bought a new position in shares of nCino in the 2nd quarter valued at about $3,530,000. Thrivent Financial for Lutherans bought a new position in shares of nCino in the 3rd quarter valued at about $689,000. Select Equity Group L.P. grew its holdings in shares of nCino by 182.0% in the 2nd quarter. Select Equity Group L.P. now owns 25,436 shares of the company’s stock valued at $800,000 after acquiring an additional 16,416 shares in the last quarter. Vanderbilt University grew its holdings in shares of nCino by 192.3% in the 3rd quarter. Vanderbilt University now owns 140,571 shares of the company’s stock valued at $4,441,000 after acquiring an additional 92,481 shares in the last quarter. Finally, Lecap Asset Management Ltd. bought a new position in shares of nCino in the 3rd quarter valued at about $745,000. 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.