nCino (NASDAQ:NCNO - Free Report) had its target price lowered by Morgan Stanley from $41.00 to $39.00 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.
NCNO has been the topic of several other research reports. Macquarie reiterated an "outperform" rating and set a $40.00 price target on shares of nCino in a report on Wednesday, October 23rd. William Blair reiterated an "outperform" rating on shares of nCino in a research note on Thursday. Truist Financial reiterated a "buy" rating and issued a $44.00 target price (up previously from $37.00) on shares of nCino in a report on Monday, October 21st. Scotiabank upped their price target on shares of nCino from $36.00 to $46.00 and gave the company a "sector outperform" rating in a report on Wednesday. Finally, Barclays lifted their price objective on nCino from $34.00 to $44.00 and gave the stock an "equal weight" rating in a research note on Monday, November 25th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, nCino presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.38.
Read Our Latest Stock Report on NCNO
nCino Stock Up 0.3 %
Shares of NCNO traded up $0.13 during trading hours on Friday, hitting $37.41. 1,769,303 shares of the company were exchanged, compared to its average volume of 925,234. 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 firm's 50 day moving average is $37.84 and its 200-day moving average is $33.64. nCino has a 52 week low of $28.09 and a 52 week high of $43.20.
Insider Activity
In other news, Director Jeff Horing sold 1,833,975 shares of nCino stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $36.62, for a total transaction of $67,160,164.50. Following the sale, the director now directly owns 12,513,467 shares in the company, valued at approximately $458,243,161.54. The trade was a 12.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William J. Ruh sold 10,000 shares of the 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 completion of the transaction, the director now directly owns 226,201 shares of the company's stock, valued at $8,482,537.50. This trade represents a 4.23 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,235,029 shares of company stock worth $117,599,204. Company insiders own 28.40% of the company's stock.
Hedge Funds Weigh In On nCino
Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanderbilt University acquired a new stake in shares of nCino in the 2nd quarter valued at $1,512,000. Portside Wealth Group LLC grew its stake in nCino by 23.4% during the second quarter. Portside Wealth Group LLC now owns 39,786 shares of the company's stock worth $1,251,000 after buying an additional 7,536 shares during the last quarter. Raymond James & Associates increased its holdings in shares of nCino by 6.0% during the second quarter. Raymond James & Associates now owns 403,429 shares of the company's stock worth $12,688,000 after buying an additional 22,729 shares in the last quarter. First Citizens Bank & Trust Co. bought a new position in shares of nCino in the second quarter valued at approximately $236,000. Finally, Nicholas Company Inc. boosted its holdings in shares of nCino by 13.2% in the 2nd quarter. Nicholas Company Inc. now owns 133,368 shares of the company's stock worth $4,194,000 after acquiring an additional 15,500 shares in the last quarter. Institutional investors own 94.76% of the company's stock.
About nCino
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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.
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