CI&T (NYSE:CINT) Rating Increased to Buy at Canaccord Genuity Group

CI&T (NYSE:CINT) was upgraded by investment analysts at Canaccord Genuity Group from a “hold” rating to a “buy” rating in a report released on Thursday, Benzinga reports. The brokerage currently has a $6.00 price objective on the stock, up from their previous price objective of $5.00. Canaccord Genuity Group’s target price would indicate a potential upside of 60.00% from the stock’s previous close.

Several other research firms also recently weighed in on CINT. UBS Group assumed coverage on CI&T in a report on Tuesday, May 14th. They issued a “neutral” rating and a $4.20 target price for the company. Canaccord Genuity Group raised CI&T from a “hold” rating to a “buy” rating and upped their price objective for the company from $5.00 to $6.00 in a research note on Thursday. Finally, Citigroup reduced their price objective on CI&T from $4.50 to $4.25 and set a “neutral” rating for the company in a research note on Monday, April 22nd. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $5.42.

CI&T Trading Up 8.4 %

NYSE:CINT opened at $3.75 on Thursday. The stock has a 50-day simple moving average of $4.04 and a 200-day simple moving average of $4.57. The stock has a market cap of $504.04 million, a P/E ratio of 17.05 and a beta of 1.03. CI&T has a 1 year low of $3.34 and a 1 year high of $7.20. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.00 and a current ratio of 2.00.

CI&T (NYSE:CINT) last posted its earnings results on Thursday, March 14th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.01. CI&T had a return on equity of 15.96% and a net margin of 7.11%. The business had revenue of $105.50 million during the quarter, compared to the consensus estimate of $107.56 million. As a group, analysts anticipate that CI&T will post 0.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CI&T

Hedge funds have recently bought and sold shares of the company. Herald Investment Management Ltd purchased a new position in CI&T in the 3rd quarter valued at approximately $2,304,000. Russell Investments Group Ltd. grew its position in shares of CI&T by 4.6% in the fourth quarter. Russell Investments Group Ltd. now owns 160,083 shares of the company’s stock valued at $842,000 after purchasing an additional 7,047 shares during the period. Banco BTG Pactual S.A. grew its position in shares of CI&T by 23.0% in the first quarter. Banco BTG Pactual S.A. now owns 53,467 shares of the company’s stock valued at $221,000 after purchasing an additional 10,000 shares during the period. BW Gestao de Investimentos Ltda. boosted its holdings in CI&T by 168.7% in the first quarter. BW Gestao de Investimentos Ltda. now owns 1,061,212 shares of the company’s stock valued at $4,383,000 after acquiring an additional 666,212 shares during the last quarter. Finally, WCM Investment Management LLC boosted its holdings in CI&T by 4.4% in the first quarter. WCM Investment Management LLC now owns 1,385,113 shares of the company’s stock valued at $5,721,000 after acquiring an additional 58,489 shares during the last quarter. 92.45% of the stock is owned by hedge funds and other institutional investors.

CI&T Company Profile

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.