CI&T (NYSE:CINT) Stock Price Down 3.1% – Here’s What Happened

CI&T Inc. (NYSE:CINT)’s share price fell 3.1% on Friday . The stock traded as low as $6.21 and last traded at $6.24. 79,688 shares traded hands during trading, a decline of 19% from the average session volume of 98,059 shares. The stock had previously closed at $6.44.

Analyst Ratings Changes

A number of research firms have recently weighed in on CINT. Canaccord Genuity Group reissued a “buy” rating and issued a $10.00 price target on shares of CI&T in a report on Monday, March 17th. Wedbush set a $9.00 price objective on CI&T in a research report on Monday, February 3rd. Finally, Citigroup assumed coverage on shares of CI&T in a report on Friday, April 25th. They issued a “buy” rating and a $7.00 target price on the stock. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued 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 target price of $8.26.

CI&T Price Performance

The company has a 50-day moving average of $5.71 and a two-hundred day moving average of $6.35. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.58 and a quick ratio of 1.58. The stock has a market capitalization of $828.02 million, a PE ratio of 47.30 and a beta of 1.24.

CI&T (NYSE:CINT) last posted its quarterly earnings data on Tuesday, May 13th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). CI&T had a net margin of 4.39% and a return on equity of 9.55%. The company had revenue of $110.88 million for the quarter, compared to analyst estimates of $111.48 million. During the same period in the prior year, the company earned $0.30 EPS. Sell-side analysts predict that CI&T Inc. will post 0.2 EPS for the current fiscal year.

Hedge Funds Weigh In On CI&T

Large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp acquired a new stake in shares of CI&T during the 4th quarter worth $3,036,000. BW Gestao de Investimentos Ltda. grew its position in CI&T by 20.8% during the fourth quarter. BW Gestao de Investimentos Ltda. now owns 2,699,741 shares of the company’s stock valued at $16,387,000 after acquiring an additional 464,529 shares during the period. Aberdeen Group plc acquired a new stake in CI&T during the first quarter worth about $1,681,000. Goldman Sachs Group Inc. raised its holdings in shares of CI&T by 551.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 74,061 shares of the company’s stock worth $442,000 after purchasing an additional 62,688 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in shares of CI&T by 110.0% in the 4th quarter. Renaissance Technologies LLC now owns 111,700 shares of the company’s stock worth $678,000 after purchasing an additional 58,500 shares during the period. Hedge funds and other institutional investors own 92.45% of the company’s stock.

CI&T Company Profile

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.