Price T Rowe Associates Inc. MD Sells 115,974 Shares of CI&T Inc. (NYSE:CINT)

Price T Rowe Associates Inc. MD lessened its holdings in shares of CI&T Inc. (NYSE:CINT) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,857,993 shares of the company’s stock after selling 115,974 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in CI&T were worth $23,419,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. WCM Investment Management LLC lifted its stake in CI&T by 3.2% during the fourth quarter. WCM Investment Management LLC now owns 1,448,203 shares of the company’s stock worth $8,747,000 after purchasing an additional 45,574 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in CI&T in the fourth quarter worth approximately $3,036,000. Renaissance Technologies LLC boosted its stake in CI&T by 110.0% in the fourth quarter. Renaissance Technologies LLC now owns 111,700 shares of the company’s stock worth $678,000 after buying an additional 58,500 shares in the last quarter. Marshall Wace LLP raised its stake in shares of CI&T by 134.4% during the fourth quarter. Marshall Wace LLP now owns 88,142 shares of the company’s stock worth $535,000 after acquiring an additional 50,543 shares in the last quarter. Finally, State Street Corp raised its stake in shares of CI&T by 28.8% during the third quarter. State Street Corp now owns 67,380 shares of the company’s stock worth $458,000 after acquiring an additional 15,083 shares in the last quarter. Hedge funds and other institutional investors own 92.45% of the company’s stock.

CI&T Price Performance

Shares of CINT opened at $5.79 on Friday. CI&T Inc. has a fifty-two week low of $3.34 and a fifty-two week high of $8.04. The firm’s 50-day simple moving average is $5.91 and its two-hundred day simple moving average is $6.42. The stock has a market cap of $779.81 million, a PE ratio of 44.54 and a beta of 1.24. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.58 and a current ratio of 1.58.

CI&T (NYSE:CINT) last posted its quarterly earnings results on Wednesday, March 12th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.36). The company had revenue of $112.34 million during the quarter, compared to analysts’ expectations of $646.68 million. CI&T had a return on equity of 9.55% and a net margin of 4.39%. Analysts anticipate that CI&T Inc. will post 0.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a $10.00 target price on shares of CI&T in a report on Monday, March 17th. Citigroup initiated coverage on CI&T in a research note on Friday, April 25th. They set a “buy” rating and a $7.00 price objective on the stock. Finally, Wedbush set a $9.00 target price on CI&T in a report on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, CI&T currently has an average rating of “Moderate Buy” and a consensus price target of $8.26.

About CI&T

CI&T, Inc provides strategy, design and software engineering services to enable digital transformation. The firm’s solutions and services include Digital Strategy, Customer-Centric Design and Top-of-the-Line Software Engineering. The company was founded by Cesar Nivaldo Gon, Bruno Guiçardi Neto and Fernando Matt Borges Martins on June 7, 2021 and is headquartered in Sao Paulo, Brazil.