nCino’s (NCNO) Outperform Rating Reiterated at William Blair

nCino (NASDAQ:NCNO)‘s stock had its “outperform” rating reiterated by equities researchers at William Blair in a research note issued on Thursday,RTT News reports.

Several other analysts also recently weighed in on NCNO. Robert W. Baird decreased their target price on nCino from $43.00 to $42.00 and set a “neutral” rating for the company in a research report on Thursday. Raymond James raised shares of nCino from a “market perform” rating to an “outperform” rating and set a $38.00 price target on the stock in a research note on Tuesday, September 3rd. Barclays boosted their price objective on shares of nCino from $34.00 to $44.00 and gave the company an “equal weight” rating in a research report on Monday, November 25th. Needham & Company LLC raised their target price on shares of nCino from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Scotiabank boosted their price target on nCino from $36.00 to $46.00 and gave the company a “sector outperform” rating in a report on Wednesday. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, nCino presently has an average rating of “Moderate Buy” and a consensus target price of $42.38.

nCino Price Performance

Shares of NCNO stock opened at $37.41 on Thursday. The stock has a 50 day moving average price of $37.84 and a 200 day moving average price of $33.64. nCino has a 52-week low of $28.09 and a 52-week high of $43.20. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a market capitalization of $4.32 billion, a P/E ratio of -138.55, a P/E/G ratio of 34.42 and a beta of 0.59.

Insider Buying and Selling

In other nCino news, CFO Gregory Orenstein sold 3,885 shares of nCino stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $35.05, for a total value of $136,169.25. Following the transaction, the chief financial officer now owns 276,892 shares in the company, valued at $9,705,064.60. The trade was a 1.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William J. Ruh sold 10,000 shares of the stock in a transaction dated 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 directly owns 226,201 shares of the company’s stock, valued at approximately $8,482,537.50. The trade was a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,235,029 shares of company stock valued at $117,599,204 over the last 90 days. Corporate insiders own 28.40% of the company’s stock.

Institutional Investors Weigh In On nCino

Institutional investors have recently bought and sold shares of the company. Thrivent Financial for Lutherans purchased a new stake in shares of nCino during the 3rd quarter valued at $689,000. Select Equity Group L.P. increased its position in nCino by 182.0% during the 2nd quarter. Select Equity Group L.P. now owns 25,436 shares of the company’s stock valued at $800,000 after buying an additional 16,416 shares in the last quarter. Vanderbilt University raised its stake in nCino by 192.3% in the third quarter. Vanderbilt University now owns 140,571 shares of the company’s stock valued at $4,441,000 after buying an additional 92,481 shares during the last quarter. Lecap Asset Management Ltd. acquired a new stake in nCino in the third quarter worth about $745,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in nCino by 63.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 172,599 shares of the company’s stock worth $5,452,000 after acquiring an additional 66,869 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

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.