Bank of Montreal Can Cuts Position in CI&T Inc. (NYSE:CINT)

Bank of Montreal Can decreased its holdings in CI&T Inc. (NYSE:CINT) by 23.2% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 551,655 shares of the company’s stock after selling 166,750 shares during the period. Bank of Montreal Can’s holdings in CI&T were worth $3,873,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. BW Gestao de Investimentos Ltda. raised its position in CI&T by 101.1% during the 2nd quarter. BW Gestao de Investimentos Ltda. now owns 2,134,514 shares of the company’s stock valued at $11,099,000 after purchasing an additional 1,073,302 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new position in shares of CI&T in the 2nd quarter worth about $2,264,000. Marshall Wace LLP grew its holdings in shares of CI&T by 245.6% during the second quarter. Marshall Wace LLP now owns 92,114 shares of the company’s stock valued at $479,000 after buying an additional 65,457 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of CI&T in the second quarter worth $76,000. Finally, GSA Capital Partners LLP boosted its holdings in shares of CI&T by 12.5% during the 3rd quarter. GSA Capital Partners LLP now owns 27,010 shares of the company’s stock valued at $183,000 after acquiring an additional 2,995 shares during the last quarter. Hedge funds and other institutional investors own 92.45% of the company’s stock.

CI&T Stock Performance

CI&T stock opened at $6.69 on Wednesday. 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 cap of $898.53 million, a price-to-earnings ratio of 51.43 and a beta of 1.14. CI&T Inc. has a 1-year low of $3.34 and a 1-year high of $8.04. The firm has a 50 day simple moving average of $6.90 and a 200-day simple moving average of $6.17.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Itau BBA Securities raised CI&T from a “market perform” rating to an “outperform” rating and set a $10.00 target price on the stock in a report on Friday, August 16th. JPMorgan Chase & Co. lifted their target price on CI&T from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Canaccord Genuity Group lifted their price target on CI&T from $9.00 to $10.00 and gave the company a “buy” rating in a report on Monday, November 18th. Citigroup boosted their price objective on shares of CI&T from $6.00 to $8.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Finally, The Goldman Sachs Group initiated coverage on CI&T in a research note on Wednesday, September 4th. They set a “neutral” rating and a $7.30 target price on the stock. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $7.11.

About CI&T

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.