UBS Group Begins Coverage on nCino (NASDAQ:NCNO)

UBS Group assumed coverage on shares of nCino (NASDAQ:NCNO) in a research note issued to investors on Monday morning, MarketBeat.com reports. The firm issued a buy rating and a $44.00 price target on the stock.

Several other analysts also recently commented on NCNO. William Blair reiterated an “outperform” rating on shares of nCino in a report on Thursday, December 5th. Scotiabank increased their price objective on shares of nCino from $36.00 to $46.00 and gave the company a “sector outperform” rating in a research note on Wednesday, December 4th. Raymond James upgraded nCino from a “market perform” rating to an “outperform” rating and set a $38.00 target price on the stock in a research note on Tuesday, September 3rd. Robert W. Baird decreased their price target on nCino from $43.00 to $42.00 and set a “neutral” rating for the company in a research report on Thursday, December 5th. Finally, Macquarie lifted their target price on nCino from $40.00 to $43.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.50.

nCino Trading Up 1.4 %

Shares of nCino stock opened at $35.96 on Monday. 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 stock has a fifty day simple moving average of $38.48 and a 200 day simple moving average of $33.91. nCino has a 12-month low of $28.09 and a 12-month high of $43.20. The company has a market capitalization of $4.16 billion, a P/E ratio of -211.53, a price-to-earnings-growth ratio of 16.82 and a beta of 0.59.

Insider Buying and Selling at nCino

In other news, insider Sean Desmond sold 30,000 shares of nCino stock in a transaction on Monday, October 14th. The stock was sold at an average price of $34.77, for a total value of $1,043,100.00. Following the completion of the transaction, the insider now directly owns 341,511 shares in the company, valued at approximately $11,874,337.47. The trade was a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeff Horing sold 1,833,975 shares of the stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $36.62, for a total value of $67,160,164.50. Following the sale, the director now directly owns 12,513,467 shares in the company, valued at $458,243,161.54. This trade represents a 12.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,852,703 shares of company stock valued at $177,212,673 over the last three months. 28.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On nCino

Several hedge funds and other institutional investors have recently modified their holdings of NCNO. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of nCino by 8.9% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,782,689 shares of the company’s stock valued at $244,766,000 after acquiring an additional 635,064 shares during the period. Long Path Partners LP boosted its holdings in nCino by 43.7% in the 3rd quarter. Long Path Partners LP now owns 3,721,406 shares of the company’s stock valued at $117,559,000 after purchasing an additional 1,131,271 shares during the period. ShawSpring Partners LLC grew its position in shares of nCino by 115.9% during the 3rd quarter. ShawSpring Partners LLC now owns 2,653,687 shares of the company’s stock valued at $83,830,000 after purchasing an additional 1,424,349 shares in the last quarter. ArrowMark Colorado Holdings LLC increased its holdings in shares of nCino by 65.1% in the third quarter. ArrowMark Colorado Holdings LLC now owns 2,100,062 shares of the company’s stock worth $66,341,000 after purchasing an additional 828,124 shares during the period. Finally, Brown Brothers Harriman & Co. boosted its stake in nCino by 55.4% during the third quarter. Brown Brothers Harriman & Co. now owns 2,065,880 shares of the company’s stock valued at $65,261,000 after buying an additional 736,627 shares during the period. 94.76% of the stock is currently owned by institutional investors.

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.