Renaissance Technologies LLC Cuts Stock Holdings in CI&T Inc. (NYSE:CINT)

Renaissance Technologies LLC reduced its position in CI&T Inc. (NYSE:CINT) by 38.5% in the second quarter, Holdings Channel.com reports. The fund owned 34,054 shares of the company’s stock after selling 21,346 shares during the period. Renaissance Technologies LLC’s holdings in CI&T were worth $177,000 as of its most recent SEC filing.

Separately, Banco BTG Pactual S.A. increased its holdings in CI&T by 23.0% in the 1st quarter. Banco BTG Pactual S.A. now owns 53,467 shares of the company’s stock worth $221,000 after buying an additional 10,000 shares in the last quarter. 92.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CINT has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of CI&T from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Citigroup increased their price target on CI&T from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Itau BBA Securities raised CI&T from a “market perform” rating to an “outperform” rating and set a $10.00 price objective for the company in a report on Friday, August 16th. The Goldman Sachs Group initiated coverage on CI&T in a report on Wednesday, September 4th. They issued a “neutral” rating and a $7.30 target price on the stock. Finally, Canaccord Genuity Group raised their target price on CI&T from $6.00 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Five investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $7.00.

CI&T Stock Down 4.0 %

Shares of CINT opened at $7.02 on Monday. The business’s 50 day simple moving average is $6.81 and its 200-day simple moving average is $5.43. CI&T Inc. has a 1 year low of $3.34 and a 1 year high of $8.04. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.80 and a quick ratio of 1.80. The stock has a market capitalization of $943.56 million, a price-to-earnings ratio of 50.14 and a beta of 1.15.

CI&T (NYSE:CINT) last announced its earnings results on Friday, August 16th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). CI&T had a net margin of 4.97% and a return on equity of 10.93%. The business had revenue of $100.45 million for the quarter, compared to analysts’ expectations of $104.75 million. As a group, equities analysts expect that CI&T Inc. will post 0.2 earnings per share for the current fiscal year.

CI&T Profile

CI&T Inc, together with its subsidiaries, provides strategy, design, and software engineering services to enable digital transformation for enterprises and companies worldwide. It is also involved in the development of customizable software through the implementation of software solutions, including machine learning, artificial intelligence, analytics, cloud migration, and mobility technologies.