nCino (NASDAQ:NCNO) Given Overweight Rating at Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of nCino (NASDAQ:NCNO) in a research report sent to investors on Wednesday morning, Benzinga reports. Piper Sandler currently has a $42.00 target price on the stock.

Several other brokerages have also issued reports on NCNO. Needham & Company LLC boosted their price objective on nCino from $40.00 to $42.00 and gave the company a buy rating in a research report on Wednesday. Robert W. Baird boosted their price objective on nCino from $34.00 to $36.00 and gave the company a neutral rating in a research report on Wednesday. Morgan Stanley upgraded nCino from an underweight rating to an equal weight rating and boosted their price objective for the company from $24.00 to $27.00 in a research report on Friday, March 15th. Finally, Truist Financial decreased their price objective on nCino from $40.00 to $37.00 and set a buy rating for the company in a research report on Thursday, November 30th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, nCino presently has an average rating of Moderate Buy and a consensus price target of $35.40.

nCino Price Performance

Shares of NCNO opened at $35.90 on Wednesday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.05. nCino has a 1 year low of $21.26 and a 1 year high of $36.65. The stock has a market cap of $4.06 billion, a P/E ratio of -61.90, a price-to-earnings-growth ratio of 11.16 and a beta of 0.44. The stock’s 50-day moving average price is $30.69 and its two-hundred day moving average price is $30.72.

Insider Transactions at nCino

In other news, VP Jeanette Sellers sold 894 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $31.18, for a total transaction of $27,874.92. Following the sale, the vice president now owns 20,770 shares in the company, valued at approximately $647,608.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Steven A. Collins sold 3,700 shares of the stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $35.56, for a total value of $131,572.00. Following the sale, the director now owns 67,216 shares in the company, valued at approximately $2,390,200.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Jeanette Sellers sold 894 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $31.18, for a total value of $27,874.92. Following the completion of the sale, the vice president now owns 20,770 shares in the company, valued at approximately $647,608.60. The disclosure for this sale can be found here. Insiders have sold a total of 32,935 shares of company stock worth $1,069,845 in the last 90 days. Corporate insiders own 38.20% of the company’s stock.

Institutional Investors Weigh In On nCino

A number of large investors have recently added to or reduced their stakes in the business. Nomura Holdings Inc. bought a new stake in nCino in the 4th quarter valued at $211,000. Bullseye Asset Management LLC increased its position in nCino by 35.3% during the 4th quarter. Bullseye Asset Management LLC now owns 57,878 shares of the company’s stock worth $1,946,000 after buying an additional 15,100 shares during the period. Public Employees Retirement System of Ohio increased its position in nCino by 17.4% during the 4th quarter. Public Employees Retirement System of Ohio now owns 135,469 shares of the company’s stock worth $4,556,000 after buying an additional 20,092 shares during the period. Townsquare Capital LLC increased its position in nCino by 1.1% during the 4th quarter. Townsquare Capital LLC now owns 191,879 shares of the company’s stock worth $6,453,000 after buying an additional 2,103 shares during the period. Finally, Vista Equity Partners Management LLC increased its position in nCino by 74.4% during the 4th quarter. Vista Equity Partners Management LLC now owns 468,803 shares of the company’s stock worth $15,766,000 after buying an additional 199,926 shares during the period. 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, a secure cloud-based solution, which empowers bank employees and leaders with true insight into the bank through an end-to-end platform that spans business lines and combines customer relationship management, customer onboarding, account opening, loan origination, deposit accounts, workflow, credit analysis, enterprise content management, and instant reporting capabilities.