nCino (NASDAQ:NCNO) Now Covered by UBS Group

Equities research analysts at UBS Group began coverage on shares of nCino (NASDAQ:NCNO) in a report issued on Monday, Marketbeat.com reports. The firm set a “buy” rating and a $44.00 price target on the stock. UBS Group’s price target would suggest a potential upside of 24.29% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the stock. Robert W. Baird dropped their price target on shares of nCino from $43.00 to $42.00 and set a “neutral” rating on the stock in a research report on Thursday, December 5th. JMP Securities restated a “market outperform” rating and issued a $43.00 target price on shares of nCino in a report on Wednesday, August 28th. Morgan Stanley decreased their price target on nCino from $41.00 to $39.00 and set an “equal weight” rating for the company in a report on Friday, December 6th. Piper Sandler restated a “neutral” rating and set a $38.00 price objective on shares of nCino in a research note on Thursday, December 5th. Finally, Scotiabank boosted their target price on nCino from $36.00 to $46.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, December 4th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, nCino has a consensus rating of “Moderate Buy” and an average price target of $42.50.

nCino Price Performance

Shares of NASDAQ NCNO opened at $35.40 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 firm’s 50-day moving average price is $38.56 and its 200-day moving average price is $33.94. The firm has a market capitalization of $4.10 billion, a P/E ratio of -208.24, a P/E/G ratio of 16.82 and a beta of 0.59. nCino has a 1-year low of $28.09 and a 1-year high of $43.20.

Insiders Place Their Bets

In other nCino news, Director William J. Ruh sold 10,000 shares of the business’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 sale, the director now owns 226,201 shares of the company’s stock, valued at $8,482,537.50. The trade was a 4.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jeff Horing sold 70,673 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $36.11, for a total value of $2,552,002.03. Following the sale, the director now owns 8,987,625 shares in the company, valued at approximately $324,543,138.75. This represents a 0.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,944,079 shares of company stock valued at $180,523,026 over the last ninety days. 28.40% of the stock is currently owned by insiders.

Institutional Trading of nCino

A number of hedge funds and other institutional investors have recently made changes to their positions in NCNO. Long Path Partners LP boosted its stake in nCino by 151.1% in the 2nd quarter. Long Path Partners LP now owns 2,590,135 shares of the company’s stock worth $81,460,000 after purchasing an additional 1,558,529 shares during the period. ShawSpring Partners LLC lifted its holdings in shares of nCino by 115.9% in the third quarter. ShawSpring Partners LLC now owns 2,653,687 shares of the company’s stock worth $83,830,000 after buying an additional 1,424,349 shares in the last quarter. Brown Brothers Harriman & Co. bought a new position in shares of nCino in the second quarter valued at approximately $41,805,000. Senator Investment Group LP purchased a new position in nCino during the second quarter valued at approximately $40,885,000. Finally, Millennium Management LLC increased its holdings in nCino by 438.3% during the 2nd quarter. Millennium Management LLC now owns 1,452,242 shares of the company’s stock worth $45,673,000 after acquiring an additional 1,182,452 shares during the period. 94.76% of the stock is currently owned by institutional investors.

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.