nCino (NASDAQ:NCNO) Given New $40.00 Price Target at Keefe, Bruyette & Woods

nCino (NASDAQ:NCNO) had its target price cut by Keefe, Bruyette & Woods from $44.00 to $40.00 in a research report released on Friday,Benzinga reports. They currently have an outperform rating on the stock.

Other equities analysts have also recently issued reports about the company. Macquarie increased their target price on nCino from $40.00 to $43.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Morgan Stanley dropped their target price on shares of nCino from $41.00 to $39.00 and set an “equal weight” rating for the company in a research report on Friday, December 6th. Raymond James reduced their price target on shares of nCino from $44.00 to $42.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 25th. Barclays raised nCino from an “equal weight” rating to an “overweight” rating and set a $44.00 price objective for the company in a report on Monday, January 6th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of nCino in a report on Monday, February 3rd. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, nCino presently has an average rating of “Moderate Buy” and an average target price of $41.36.

nCino Stock Down 1.9 %

Shares of NASDAQ NCNO opened at $28.92 on Friday. The firm has a market cap of $3.35 billion, a price-to-earnings ratio of -170.11, a PEG ratio of 5.77 and a beta of 0.66. nCino has a 1 year low of $27.29 and a 1 year high of $43.20. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95. The stock’s 50-day simple moving average is $31.44 and its 200-day simple moving average is $34.22.

Insider Buying and Selling

In other nCino news, Director Jeff Horing sold 54,876 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $35.00, for a total transaction of $1,920,660.00. Following the completion of the transaction, the director now owns 4,458,591 shares in the company, valued at approximately $156,050,685. The trade was a 1.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Pierre Naude sold 17,026 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total value of $555,047.60. Following the transaction, the director now directly owns 1,097,213 shares in the company, valued at $35,769,143.80. This trade represents a 1.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 86,877 shares of company stock valued at $2,963,893 in the last quarter. Company insiders own 28.40% of the company’s stock.

Institutional Trading of nCino

A number of institutional investors have recently made changes to their positions in NCNO. Vanguard Group Inc. increased its stake in shares of nCino by 9.6% during the fourth quarter. Vanguard Group Inc. now owns 10,830,773 shares of the company’s stock valued at $363,697,000 after acquiring an additional 948,282 shares during the period. Wasatch Advisors LP raised its stake in shares of nCino by 171.9% in the 4th quarter. Wasatch Advisors LP now owns 6,177,783 shares of the company’s stock worth $207,450,000 after buying an additional 3,905,802 shares in the last quarter. Capital International Investors lifted its holdings in shares of nCino by 57.4% in the fourth quarter. Capital International Investors now owns 4,691,204 shares of the company’s stock valued at $157,531,000 after buying an additional 1,710,893 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in nCino by 139.8% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,241,017 shares of the company’s stock valued at $108,834,000 after buying an additional 1,889,283 shares in the last quarter. Finally, Soma Equity Partners LP grew its holdings in nCino by 5.7% during the fourth quarter. Soma Equity Partners LP now owns 2,917,681 shares of the company’s stock worth $97,976,000 after acquiring an additional 156,238 shares during the period. 94.76% of the stock is owned by institutional investors and hedge funds.

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.