nCino (NASDAQ:NCNO) Hits New 1-Year High Following Analyst Upgrade

nCino, Inc. (NASDAQ:NCNO) hit a new 52-week high during trading on Wednesday after Morgan Stanley raised their price target on the stock from $27.00 to $30.00. Morgan Stanley currently has an equal weight rating on the stock. nCino traded as high as $36.65 and last traded at $35.81, with a volume of 2254969 shares trading hands. The stock had previously closed at $30.18.

Other equities research analysts also recently issued reports about the company. Piper Sandler reissued an “overweight” rating and issued a $42.00 price objective on shares of nCino in a research note on Wednesday. Truist Financial dropped their target price on nCino from $40.00 to $37.00 and set a “buy” rating on the stock in a research report on Thursday, November 30th. Needham & Company LLC lifted their price target on nCino from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday. Robert W. Baird lifted their price target on nCino from $34.00 to $36.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, William Blair restated an “outperform” rating on shares of nCino in a research report on Wednesday. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $35.40.

Insider Activity at nCino

In other nCino news, insider April Rieger sold 1,518 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $31.22, for a total value of $47,391.96. Following the transaction, the insider now owns 150,538 shares of the company’s stock, valued at $4,699,796.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other nCino news, insider April Rieger sold 1,518 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $31.22, for a total value of $47,391.96. Following the transaction, the insider now owns 150,538 shares of the company’s stock, valued at $4,699,796.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Gregory Orenstein sold 1,703 shares of the business’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $30.66, for a total value of $52,213.98. Following the completion of the transaction, the chief financial officer now directly owns 219,012 shares in the company, valued at approximately $6,714,907.92. The disclosure for this sale can be found here. Insiders have sold a total of 32,935 shares of company stock valued at $1,069,845 in the last 90 days. 38.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On nCino

Several large investors have recently made changes to their positions in the company. First Bank & Trust lifted its stake in shares of nCino by 4.1% during the fourth quarter. First Bank & Trust now owns 9,970 shares of the company’s stock valued at $335,000 after acquiring an additional 395 shares during the period. State of Wyoming increased its holdings in nCino by 56.8% in the fourth quarter. State of Wyoming now owns 1,350 shares of the company’s stock valued at $36,000 after purchasing an additional 489 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in nCino by 2.2% in the third quarter. Commonwealth Equity Services LLC now owns 25,371 shares of the company’s stock valued at $865,000 after purchasing an additional 543 shares during the last quarter. Parkwood LLC increased its holdings in nCino by 6.7% in the fourth quarter. Parkwood LLC now owns 10,400 shares of the company’s stock valued at $350,000 after purchasing an additional 655 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in nCino by 0.3% in the second quarter. Sei Investments Co. now owns 189,223 shares of the company’s stock valued at $5,699,000 after purchasing an additional 659 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

nCino Stock Up 4.1 %

The firm has a fifty day simple moving average of $30.79 and a 200-day simple moving average of $30.77. The company has a market capitalization of $4.23 billion, a P/E ratio of -98.37, a P/E/G ratio of 11.07 and a beta of 0.44. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.05.

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, 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.