CI&T (NYSE:CINT) Shares Down 3.2% – Here’s Why

CI&T Inc. (NYSE:CINT)’s share price was down 3.2% on Wednesday . The company traded as low as $4.09 and last traded at $4.1060. Approximately 43,042 shares changed hands during trading, a decline of 74% from the average daily volume of 168,680 shares. The stock had previously closed at $4.24.

Analysts Set New Price Targets

Several equities research analysts recently commented on CINT shares. Canaccord Genuity Group cut their target price on CI&T from $8.00 to $6.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Zacks Research cut CI&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Wall Street Zen downgraded shares of CI&T from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Weiss Ratings downgraded shares of CI&T from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday. Finally, JPMorgan Chase & Co. reduced their price target on shares of CI&T from $8.00 to $7.00 and set an “overweight” rating for the company in a report on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, CI&T currently has an average rating of “Moderate Buy” and an average price target of $7.16.

CI&T Trading Down 4.6%

The firm has a market cap of $544.79 million, a price-to-earnings ratio of 14.98 and a beta of 1.15. The firm’s 50-day moving average is $4.57 and its 200-day moving average is $5.06. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.23.

CI&T (NYSE:CINT) last released its quarterly earnings data on Thursday, November 13th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). The business had revenue of $127.31 million during the quarter, compared to the consensus estimate of $673.11 million. CI&T had a net margin of 7.83% and a return on equity of 12.42%. As a group, sell-side analysts anticipate that CI&T Inc. will post 0.2 EPS for the current fiscal year.

Institutional Trading of CI&T

Institutional investors and hedge funds have recently modified their holdings of the stock. Hsbc Holdings PLC bought a new stake in CI&T during the first quarter worth $62,000. Franklin Resources Inc. purchased a new stake in shares of CI&T in the third quarter valued at about $56,000. Wedbush Securities Inc. bought a new position in shares of CI&T during the third quarter valued at about $58,000. Russell Investments Group Ltd. lifted its position in shares of CI&T by 176.3% during the second quarter. Russell Investments Group Ltd. now owns 11,684 shares of the company’s stock valued at $67,000 after purchasing an additional 7,456 shares in the last quarter. Finally, Centiva Capital LP purchased a new position in CI&T during the third quarter worth about $72,000. 92.45% of the stock is owned by hedge funds and other institutional investors.

About CI&T

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.