CI&T (NYSE:CINT) Shares Down 4.2%

Shares of CI&T Inc. (NYSE:CINT) dropped 4.2% during mid-day trading on Monday . The stock traded as low as $6.58 and last traded at $6.62. Approximately 16,377 shares traded hands during trading, a decline of 84% from the average daily volume of 102,690 shares. The stock had previously closed at $6.91.

Analyst Ratings Changes

A number of research firms have recently issued reports on CINT. Itau BBA Securities upgraded CI&T from a “market perform” rating to an “outperform” rating and set a $10.00 price objective for the company in a report on Friday, August 16th. Wedbush started coverage on CI&T in a research note on Friday, May 24th. They issued an “outperform” rating and a $5.00 target price for the company. JPMorgan Chase & Co. lifted their price target on shares of CI&T from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Citigroup upped their price objective on shares of CI&T from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Finally, The Goldman Sachs Group started coverage on shares of CI&T in a research report on Wednesday, September 4th. They issued a “neutral” rating and a $7.30 target price on the stock. Five analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $7.00.

CI&T Stock Performance

The business’s fifty day simple moving average is $6.43 and its 200-day simple moving average is $5.09. The firm has a market cap of $891.15 million, a P/E ratio of 37.78 and a beta of 1.15. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.45.

CI&T (NYSE:CINT) last issued its quarterly earnings data on Friday, August 16th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). CI&T had a return on equity of 10.93% and a net margin of 4.97%. The business had revenue of $100.45 million during the quarter, compared to the consensus estimate of $104.75 million. As a group, sell-side analysts expect that CI&T Inc. will post 0.2 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. XTX Topco Ltd bought a new position in shares of CI&T in the 2nd quarter worth approximately $76,000. Banco BTG Pactual S.A. raised its holdings in CI&T by 23.0% in the first quarter. Banco BTG Pactual S.A. now owns 53,467 shares of the company’s stock worth $221,000 after purchasing an additional 10,000 shares in the last quarter. Marshall Wace LLP lifted its position in CI&T by 245.6% during the second quarter. Marshall Wace LLP now owns 92,114 shares of the company’s stock valued at $479,000 after buying an additional 65,457 shares during the period. Itau Unibanco Holding S.A. bought a new stake in shares of CI&T during the 2nd quarter valued at $2,264,000. Finally, BW Gestao de Investimentos Ltda. grew its position in shares of CI&T by 168.7% in the 1st quarter. BW Gestao de Investimentos Ltda. now owns 1,061,212 shares of the company’s stock worth $4,383,000 after buying an additional 666,212 shares during the period. 92.45% of the stock is owned by hedge funds and other institutional investors.

About CI&T

CI&T Inc, together with its subsidiaries, provides strategy, design, and software engineering services to enable digital transformation for enterprises and companies worldwide. It is also involved in the development of customizable software through the implementation of software solutions, including machine learning, artificial intelligence, analytics, cloud migration, and mobility technologies.