CI&T (NYSE:CINT) Trading Up 7.9% – Here’s Why

CI&T Inc. (NYSE:CINT)’s share price traded up 7.9% on Thursday . The company traded as high as $4.67 and last traded at $4.7050. 114,841 shares were traded during mid-day trading, a decline of 34% from the average session volume of 174,584 shares. The stock had previously closed at $4.36.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CINT shares. Canaccord Genuity Group dropped their price target on CI&T from $8.00 to $6.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. JPMorgan Chase & Co. dropped their target price on shares of CI&T from $8.00 to $7.00 and set an “overweight” rating on the stock in a research report on Thursday, November 13th. Weiss Ratings cut shares of CI&T from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, December 26th. Wall Street Zen downgraded CI&T from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Finally, Zacks Research lowered CI&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $7.16.

CI&T Stock Performance

The stock has a market cap of $625.59 million, a price-to-earnings ratio of 17.24 and a beta of 1.15. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.40 and a quick ratio of 1.40. The firm has a fifty day moving average of $4.51 and a 200 day moving average of $5.00.

CI&T (NYSE:CINT) last posted its quarterly earnings results on Thursday, November 13th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.01). CI&T had a net margin of 7.83% and a return on equity of 12.42%. The firm had revenue of $127.31 million during the quarter, compared to analysts’ expectations of $673.11 million. As a group, sell-side analysts forecast that CI&T Inc. will post 0.2 EPS for the current year.

Hedge Funds Weigh In On CI&T

Several hedge funds have recently added to or reduced their stakes in CINT. Franklin Resources Inc. acquired a new position in CI&T in the third quarter valued at $56,000. Wedbush Securities Inc. purchased a new stake in CI&T during the 3rd quarter worth about $58,000. Russell Investments Group Ltd. grew its holdings in shares of CI&T by 176.3% during the second quarter. Russell Investments Group Ltd. now owns 11,684 shares of the company’s stock worth $67,000 after buying an additional 7,456 shares in the last quarter. Centiva Capital LP acquired a new position in shares of CI&T in the third quarter valued at approximately $72,000. Finally, Nipun Capital L.P. acquired a new stake in CI&T during the second quarter worth approximately $111,000. 92.45% of the stock is currently owned by hedge funds and other institutional investors.

About CI&T

CI&T Inc (NYSE:CINT) is a global digital solutions and technology services provider specializing in end-to-end digital transformation. The company partners with clients across industries such as financial services, retail, healthcare and technology to deliver tailored software products, agile development practices and customer-centric design. Its core offerings include digital strategy consulting, user experience and interface design, cloud-native application development, data engineering and full-cycle product lifecycle management.

Leveraging a proprietary agile framework, CI&T helps organizations accelerate time-to-market and improve operational efficiency through continuous delivery and DevOps automation.