CI&T (NYSE:CINT) Trading Down 4.1% – Here’s What Happened

CI&T Inc. (NYSE:CINT)’s share price dropped 4.1% on Thursday . The company traded as low as $3.66 and last traded at $3.74. Approximately 14,560 shares were traded during trading, a decline of 90% from the average daily volume of 148,434 shares. The stock had previously closed at $3.90.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CINT shares. Wedbush lowered their target price on shares of CI&T from $9.00 to $7.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 12th. Canaccord Genuity Group upped their price target on shares of CI&T from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Thursday, March 12th. UBS Group upped their price target on shares of CI&T from $7.10 to $7.20 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Weiss Ratings downgraded CI&T from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday. Finally, Wall Street Zen cut CI&T from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, CI&T presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.80.

CI&T Price Performance

The business’s 50 day moving average is $3.82 and its two-hundred day moving average is $4.48. The firm has a market capitalization of $498.89 million, a PE ratio of 12.09 and a beta of 0.81. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.37 and a quick ratio of 1.37.

CI&T (NYSE:CINT) last announced its earnings results on Monday, May 11th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.03). The company had revenue of $136.61 million for the quarter, compared to the consensus estimate of $133.28 million. CI&T had a net margin of 7.90% and a return on equity of 13.19%. As a group, research analysts anticipate that CI&T Inc. will post 0.34 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp raised its position in CI&T by 6.4% during the fourth quarter. State Street Corp now owns 62,242 shares of the company’s stock valued at $253,000 after purchasing an additional 3,719 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of CI&T by 45.7% in the 4th quarter. Franklin Resources Inc. now owns 15,892 shares of the company’s stock worth $65,000 after purchasing an additional 4,983 shares in the last quarter. Wedbush Securities Inc. boosted its holdings in shares of CI&T by 50.6% in the 4th quarter. Wedbush Securities Inc. now owns 16,975 shares of the company’s stock worth $69,000 after purchasing an additional 5,700 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in shares of CI&T by 6.4% in the 1st quarter. Lazard Asset Management LLC now owns 102,742 shares of the company’s stock worth $521,000 after purchasing an additional 6,171 shares in the last quarter. Finally, R Squared Ltd increased its position in shares of CI&T by 24.1% during the 1st quarter. R Squared Ltd now owns 34,521 shares of the company’s stock valued at $175,000 after purchasing an additional 6,707 shares during the last quarter. 92.45% of the stock is currently 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.