CI&T (NYSE:CINT) Shares Down 3.3% – Here’s What Happened

CI&T Inc. (NYSE:CINT)’s stock price traded down 3.3% during mid-day trading on Tuesday . The stock traded as low as $6.04 and last traded at $6.08. 173,253 shares changed hands during trading, an increase of 76% from the average session volume of 98,468 shares. The stock had previously closed at $6.29.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CINT. Citigroup began coverage on CI&T in a research report on Friday, April 25th. They set a “buy” rating and a $7.00 price objective for the company. Cowen restated a “buy” rating on shares of CI&T in a report on Wednesday, May 14th. Canaccord Genuity Group reiterated a “buy” rating and set a $10.00 price target on shares of CI&T in a report on Monday, March 17th. JPMorgan Chase & Co. raised CI&T from a “neutral” rating to an “overweight” rating and set a $7.00 target price for the company in a research note on Monday, May 19th. Finally, Wedbush set a $9.00 price target on CI&T in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.41.

CI&T Trading Down 7.2%

The firm has a market cap of $785.73 million, a price-to-earnings ratio of 44.88 and a beta of 1.24. The firm’s 50-day moving average is $5.70 and its 200-day moving average is $6.33. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.39.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CINT. WCM Investment Management LLC boosted its stake in shares of CI&T by 3.2% in the 4th quarter. WCM Investment Management LLC now owns 1,448,203 shares of the company’s stock worth $8,747,000 after buying an additional 45,574 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of CI&T during the 4th quarter valued at $3,036,000. Cubist Systematic Strategies LLC raised its position in CI&T by 82.2% in the fourth quarter. Cubist Systematic Strategies LLC now owns 18,755 shares of the company’s stock worth $114,000 after acquiring an additional 8,459 shares during the period. Stifel Financial Corp bought a new position in shares of CI&T during the 4th quarter valued at approximately $68,000. Finally, Renaissance Technologies LLC grew its position in shares of CI&T by 110.0% during the 4th quarter. Renaissance Technologies LLC now owns 111,700 shares of the company’s stock valued at $678,000 after acquiring an additional 58,500 shares during the period. 92.45% of the stock is owned by institutional investors.

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.