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

nCino (NASDAQ:NCNO) had its target price cut by analysts at Keefe, Bruyette & Woods from $44.00 to $40.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 35.64% from the stock’s previous close.

NCNO has been the topic of a number of other research reports. Robert W. Baird reduced their target price on nCino from $43.00 to $42.00 and set a “neutral” rating on the stock in a research note on Thursday, December 5th. Scotiabank reduced their price target on shares of nCino from $42.00 to $35.00 and set a “sector outperform” rating on the stock in a research note on Thursday. Barclays raised shares of nCino from an “equal weight” rating to an “overweight” rating and set a $44.00 price objective for the company in a research report on Monday, January 6th. 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, December 5th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of nCino in a research note on Monday, February 3rd. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, nCino currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.36.

nCino Trading Down 0.8 %

NCNO opened at $29.49 on Friday. nCino has a one year low of $27.29 and a one year high of $43.20. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a market cap of $3.41 billion, a price-to-earnings ratio of -173.46, a P/E/G ratio of 5.77 and a beta of 0.66. The stock’s 50 day moving average price is $31.52 and its 200-day moving average price is $34.15.

Insider Buying and Selling at nCino

In other news, CFO Gregory Orenstein sold 5,148 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now owns 271,744 shares in the company, valued at approximately $8,858,854.40. This represents a 1.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jeff Horing sold 54,876 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was 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 of the company’s stock, valued at $156,050,685. The trade was a 1.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 86,877 shares of company stock worth $2,963,893 over the last quarter. Insiders own 28.40% of the company’s stock.

Institutional Investors Weigh In On nCino

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fifth Third Bancorp acquired a new position in shares of nCino during the fourth quarter valued at about $34,000. Hilltop National Bank purchased a new stake in nCino during the 4th quarter worth approximately $37,000. Johnson Financial Group Inc. acquired a new position in nCino during the 4th quarter valued at approximately $57,000. Asset Management One Co. Ltd. raised its holdings in shares of nCino by 16.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company’s stock worth $78,000 after buying an additional 323 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in shares of nCino by 32.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,536 shares of the company’s stock worth $152,000 after buying an additional 1,122 shares during the period. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

nCino Company Profile

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.