nCino (NASDAQ:NCNO) Research Coverage Started at Stephens

Stephens assumed coverage on shares of nCino (NASDAQ:NCNO) in a research note issued to investors on Friday morning, Marketbeat.com reports. The brokerage issued an overweight rating and a $26.00 target price on the stock.

Other equities analysts have also recently issued reports about the stock. UBS Group reiterated a “buy” rating on shares of nCino in a research report on Wednesday, August 26th. Citigroup restated a “market outperform” rating on shares of nCino in a research report on Wednesday, August 26th. BTIG Research restated a “neutral” rating on shares of nCino in a research report on Wednesday, August 26th. JPMorgan Chase & Co. raised their price objective on nCino from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Monday, June 22nd. Finally, Needham & Company LLC restated a “buy” rating and set a $25.00 price objective on shares of nCino in a research report on Wednesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.38.

nCino Stock Performance

NCNO opened at $20.51 on Friday. The company’s 50 day moving average is $20.63 and its 200-day moving average is $18.15. nCino has a 1-year low of $13.80 and a 1-year high of $27.50. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.34. The company has a market cap of $2.17 billion, a P/E ratio of 68.37 and a beta of 0.81.

Insider Buying and Selling at nCino

In other news, Director Pierre Naude sold 4,677 shares of nCino stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $19.22, for a total value of $89,891.94. Following the completion of the transaction, the director directly owned 1,116,707 shares of the company’s stock, valued at approximately $21,463,108.54. This trade represents a 0.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gregory Orenstein sold 11,780 shares of the business’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $19.22, for a total value of $226,411.60. Following the completion of the transaction, the chief financial officer directly owned 690,513 shares in the company, valued at $13,271,659.86. This represents a 1.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 134,130 shares of company stock valued at $2,662,794. 1.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On nCino

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in nCino in the second quarter valued at approximately $147,492,000. Bank of America Corp DE bought a new position in shares of nCino during the 2nd quarter worth approximately $84,319,000. American Capital Management Inc. acquired a new stake in shares of nCino during the 2nd quarter worth approximately $83,508,000. HMI Capital Management L.P. acquired a new stake in shares of nCino during the 2nd quarter worth approximately $81,598,000. Finally, Senvest Management LLC grew its position in shares of nCino by 30.2% during the 1st quarter. Senvest Management LLC now owns 5,308,468 shares of the company’s stock worth $79,521,000 after buying an additional 1,230,192 shares during the period. 94.76% of the stock is currently owned by institutional investors.

About nCino

nCino, Inc is a financial technology company that provides cloud-based software to banks, credit unions and other financial institutions. Its platform is designed to help institutions modernize and manage core banking processes through a unified, configurable operating environment.

The company’s products support commercial, small-business and consumer lending; account opening and deposit origination; customer onboarding; loan and relationship management; workflow automation; and portfolio and analytics capabilities.