nCino (NASDAQ:NCNO) Given “Neutral” Rating at Piper Sandler

Posted by Defense World Staff on Mar 30th, 2023

Piper Sandler reissued their neutral rating on shares of nCino (NASDAQ:NCNO – Get Rating) in a research report released on Wednesday morning, Benzinga reports. They currently have a $22.00 price target on the stock.

Several other research analysts also recently commented on the company. Stephens reduced their target price on nCino from $33.00 to $27.00 and set an overweight rating on the stock in a report on Wednesday. Morgan Stanley reduced their target price on nCino from $35.00 to $27.00 and set an overweight rating on the stock in a report on Friday, March 24th. Piper Jaffray Companies downgraded nCino from an overweight rating to a neutral rating in a report on Tuesday, March 14th. Truist Financial reduced their target price on nCino from $45.00 to $40.00 and set a buy rating on the stock in a report on Wednesday. Finally, Bank of America reduced their target price on nCino from $32.00 to $30.00 and set a buy rating on the stock in a report on Wednesday. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, nCino has an average rating of Moderate Buy and a consensus price target of $32.83.

nCino Stock Up 2.4 %

NASDAQ NCNO opened at $22.90 on Wednesday. The stock’s 50 day moving average is $26.54 and its two-hundred day moving average is $28.17. nCino has a 1-year low of $19.58 and a 1-year high of $47.97.

Insider Buying and Selling

In related news, insider Matthew Royce Hansen sold 6,134 shares of the business’s stock in a transaction that occurred on Tuesday, January 10th. The shares were sold at an average price of $26.16, for a total value of $160,465.44. Following the completion of the transaction, the insider now owns 148,425 shares in the company, valued at approximately $3,882,798. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other nCino news, CEO Pierre Naude sold 5,521 shares of the company’s stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $31.35, for a total transaction of $173,083.35. Following the completion of the sale, the chief executive officer now owns 889,392 shares in the company, valued at approximately $27,882,439.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Matthew Royce Hansen sold 6,134 shares of the company’s stock in a transaction on Tuesday, January 10th. The shares were sold at an average price of $26.16, for a total transaction of $160,465.44. Following the sale, the insider now owns 148,425 shares of the company’s stock, valued at approximately $3,882,798. The disclosure for this sale can be found here. Insiders sold 17,445 shares of company stock worth $514,063 in the last quarter. Insiders own 37.20% of the company’s stock.

Hedge Funds Weigh In On nCino

Institutional investors and hedge funds have recently made changes to their positions in the company. Wipfli Financial Advisors LLC acquired a new position in shares of nCino in the 3rd quarter valued at $33,000. Spire Wealth Management grew its holdings in shares of nCino by 69.7% in the 3rd quarter. Spire Wealth Management now owns 1,310 shares of the company’s stock valued at $45,000 after buying an additional 538 shares during the period. State of Wyoming grew its holdings in shares of nCino by 56.8% in the 4th quarter. State of Wyoming now owns 1,350 shares of the company’s stock valued at $36,000 after buying an additional 489 shares during the period. UBS Group AG grew its holdings in shares of nCino by 218.7% in the 3rd quarter. UBS Group AG now owns 1,807 shares of the company’s stock valued at $62,000 after buying an additional 1,240 shares during the period. Finally, MetLife Investment Management LLC grew its holdings in shares of nCino by 22.0% in the 3rd quarter. MetLife Investment Management LLC now owns 2,003 shares of the company’s stock valued at $68,000 after buying an additional 361 shares during the period. Institutional investors and hedge funds own 88.69% of the company’s stock.

nCino Company Profile

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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 tenant cloud platform, which digitizes, automates, and streamlines complex processes and workflow; and utilizes data analytics and artificial intelligence and machine learning (AI/ML) to enable banks and credit unions to onboard new clients, make loans and manage the entire loan life cycle, open deposit and other accounts, and manage regulatory compliance.