Keefe, Bruyette & Woods Cuts nCino (NASDAQ:NCNO) Price Target to $40.00

nCino (NASDAQ:NCNO) had its price target reduced 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.

NCNO has been the topic of a number of other research reports. Raymond James lowered their price target on nCino from $44.00 to $42.00 and set an “outperform” rating on the stock in a report on Tuesday, March 25th. William Blair reissued an “outperform” rating on shares of nCino in a report on Thursday, December 5th. Barclays raised nCino from an “equal weight” rating to an “overweight” rating and set a $44.00 price target for the company in a research note on Monday, January 6th. Macquarie increased their price objective on shares of nCino from $40.00 to $43.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Finally, Scotiabank cut their target price on shares of nCino from $42.00 to $35.00 and set a “sector outperform” rating for the company in a research report on Thursday. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.36.

nCino Stock Down 1.9 %

Shares of NASDAQ NCNO opened at $28.92 on Friday. The stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of -170.11, a price-to-earnings-growth ratio of 5.77 and a beta of 0.66. nCino has a 52 week low of $27.29 and a 52 week high of $43.20. The firm has a 50-day moving average price of $31.44 and a 200 day moving average price of $34.22. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20.

Insider Activity at nCino

In related news, Director Jeff Horing sold 54,876 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $35.00, for a total value of $1,920,660.00. Following the completion of the sale, the director now directly owns 4,458,591 shares in the company, valued at approximately $156,050,685. The trade was a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Gregory Orenstein sold 5,148 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total transaction of $167,824.80. Following the transaction, the chief financial officer now directly owns 271,744 shares of the company’s stock, valued at $8,858,854.40. This trade represents a 1.86 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 86,877 shares of company stock worth $2,963,893. 28.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On nCino

Several hedge funds and other institutional investors have recently modified their holdings of the company. Asset Management One Co. Ltd. raised its holdings in nCino by 16.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company’s stock valued at $78,000 after buying an additional 323 shares during the period. Victory Capital Management Inc. raised its stake in shares of nCino by 2.9% in the 4th quarter. Victory Capital Management Inc. now owns 12,124 shares of the company’s stock valued at $407,000 after acquiring an additional 340 shares during the period. Berry Wealth Group LP boosted its position in nCino by 5.1% during the 4th quarter. Berry Wealth Group LP now owns 8,207 shares of the company’s stock worth $276,000 after purchasing an additional 400 shares during the period. Handelsbanken Fonder AB increased its holdings in nCino by 2.2% in the 4th quarter. Handelsbanken Fonder AB now owns 23,000 shares of the company’s stock valued at $772,000 after purchasing an additional 500 shares in the last quarter. Finally, Sterling Capital Management LLC raised its position in nCino by 1.2% in the fourth quarter. Sterling Capital Management LLC now owns 48,945 shares of the company’s stock valued at $1,644,000 after purchasing an additional 583 shares during the period. 94.76% of the stock is 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.