CI&T Inc. (NYSE:CINT) Sees Large Drop in Short Interest

CI&T Inc. (NYSE:CINT) was the recipient of a significant decline in short interest in the month of March. As of March 13th, there was short interest totaling 281,663 shares, a decline of 13.9% from the February 26th total of 327,068 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average trading volume of 109,767 shares, the short-interest ratio is presently 2.6 days.

Hedge Funds Weigh In On CI&T

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BW Gestao de Investimentos Ltda. raised its stake in CI&T by 9.2% during the 2nd quarter. BW Gestao de Investimentos Ltda. now owns 2,882,650 shares of the company’s stock valued at $17,209,000 after purchasing an additional 242,811 shares during the period. JPMorgan Chase & Co. boosted its position in shares of CI&T by 24,544.5% in the second quarter. JPMorgan Chase & Co. now owns 1,460,678 shares of the company’s stock worth $8,720,000 after buying an additional 1,454,751 shares during the period. Royce & Associates LP grew its holdings in shares of CI&T by 69.7% during the fourth quarter. Royce & Associates LP now owns 888,221 shares of the company’s stock valued at $3,615,000 after buying an additional 364,696 shares in the last quarter. GMT Capital Corp purchased a new position in shares of CI&T during the fourth quarter valued at $1,786,000. Finally, Marshall Wace LLP raised its position in CI&T by 90.4% during the second quarter. Marshall Wace LLP now owns 380,818 shares of the company’s stock valued at $2,273,000 after buying an additional 180,800 shares during the period. 92.45% of the stock is currently owned by hedge funds and other institutional investors.

CI&T Trading Up 1.9%

CINT traded up $0.09 during trading on Tuesday, reaching $5.08. The company had a trading volume of 13,146 shares, compared to its average volume of 138,912. The firm’s 50-day simple moving average is $5.02 and its 200 day simple moving average is $4.79. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.33 and a current ratio of 1.34. The company has a market cap of $684.20 million, a price-to-earnings ratio of 16.94 and a beta of 1.15. CI&T has a 12-month low of $3.98 and a 12-month high of $7.09.

CI&T (NYSE:CINT) last posted its quarterly earnings data on Sunday, March 22nd. The company reported $0.05 EPS for the quarter. The company had revenue of $69.07 million during the quarter. CI&T had a net margin of 8.30% and a return on equity of 13.46%. Equities research analysts anticipate that CI&T will post 0.2 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. UBS Group upped their price target on shares of CI&T from $7.00 to $7.10 and gave the company a “buy” rating in a report on Thursday, March 12th. Weiss Ratings upgraded shares of CI&T from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, January 13th. Wall Street Zen raised shares of CI&T from a “hold” rating to a “buy” rating in a research note on Saturday, March 14th. JPMorgan Chase & Co. decreased their price target on shares of CI&T from $7.00 to $6.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 18th. Finally, Canaccord Genuity Group upped their price target on CI&T from $6.00 to $7.00 and gave the company a “buy” rating in a report on Thursday, March 12th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.78.

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.