CI&T (NYSE:CINT) Shares Gap Down – What’s Next?

CI&T Inc. (NYSE:CINT) shares gapped down before the market opened on Tuesday . The stock had previously closed at $3.89, but opened at $3.67. CI&T shares last traded at $3.73, with a volume of 3,144 shares traded.

Analyst Ratings Changes

CINT has been the topic of several recent research reports. Weiss Ratings downgraded shares of CI&T from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, June 29th. Wedbush cut shares of CI&T from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $7.00 to $4.00 in a report on Tuesday, July 21st. UBS Group decreased their target price on shares of CI&T from $7.20 to $6.20 and set a “buy” rating for the company in a research report on Wednesday, August 12th. JPMorgan Chase & Co. lowered their price target on shares of CI&T from $6.00 to $5.00 and set an “overweight” rating on the stock in a report on Wednesday, August 12th. Finally, Wall Street Zen downgraded CI&T from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Seven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $6.08.

CI&T Stock Performance

The business’s 50-day simple moving average is $3.45 and its two-hundred day simple moving average is $4.13. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.15. The firm has a market cap of $454.88 million, a price-to-earnings ratio of 11.66 and a beta of 0.81.

CI&T (NYSE:CINT) last announced its quarterly earnings results on Wednesday, August 12th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.02). The business had revenue of $142.82 million during the quarter, compared to analysts’ expectations of $140.05 million. CI&T had a net margin of 6.79% and a return on equity of 11.69%. As a group, sell-side analysts expect that CI&T Inc. will post 0.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Franklin Resources Inc. purchased a new position in CI&T in the 3rd quarter valued at about $56,000. Janney Montgomery Scott LLC acquired a new position in shares of CI&T during the first quarter valued at approximately $60,000. RPO LLC acquired a new position in shares of CI&T during the fourth quarter valued at approximately $60,000. Russell Investments Group Ltd. lifted its position in shares of CI&T by 176.3% in the second quarter. Russell Investments Group Ltd. now owns 11,684 shares of the company’s stock valued at $67,000 after acquiring an additional 7,456 shares in the last quarter. Finally, Wedbush Securities Inc. boosted its stake in shares of CI&T by 50.6% in the fourth quarter. Wedbush Securities Inc. now owns 16,975 shares of the company’s stock worth $69,000 after acquiring an additional 5,700 shares during the last quarter. Hedge funds and other institutional investors own 92.45% of the company’s stock.

CI&T Company Profile

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.