CI&T (NYSE:CINT) Shares Gap Down to $6.91

CI&T Inc. (NYSE:CINT)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $6.91, but opened at $6.42. CI&T shares last traded at $6.37, with a volume of 2,212 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Canaccord Genuity Group boosted their price target on CI&T from $6.00 to $9.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. The Goldman Sachs Group initiated coverage on shares of CI&T in a research report on Wednesday, September 4th. They set a “neutral” rating and a $7.30 target price on the stock. Itau BBA Securities raised shares of CI&T from a “market perform” rating to an “outperform” rating and set a $10.00 price target for the company in a report on Friday, August 16th. Citigroup boosted their price objective on shares of CI&T from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Finally, Canaccord Genuity Group upgraded CI&T from a “hold” rating to a “buy” rating and raised their target price for the stock from $5.00 to $6.00 in a research note on Thursday, May 23rd. Five research 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.com, CI&T has an average rating of “Moderate Buy” and a consensus target price of $7.00.

CI&T Price Performance

The firm has a market cap of $891.15 million, a PE ratio of 36.83 and a beta of 1.15. The stock has a 50 day simple moving average of $6.46 and a two-hundred day simple moving average of $5.10. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.80 and a current ratio of 1.80.

CI&T (NYSE:CINT) last announced its quarterly earnings results on Friday, August 16th. The company reported $0.03 earnings per share 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 company had revenue of $100.45 million for the quarter, compared to analysts’ expectations of $104.75 million. Sell-side analysts expect that CI&T Inc. will post 0.2 earnings per share for the current year.

Institutional Trading of CI&T

A number of hedge funds have recently added to or reduced their stakes in the company. BW Gestao de Investimentos Ltda. boosted its stake in shares of CI&T by 168.7% during the 1st quarter. BW Gestao de Investimentos Ltda. now owns 1,061,212 shares of the company’s stock worth $4,383,000 after acquiring an additional 666,212 shares in the last quarter. Marshall Wace LLP boosted its position in CI&T by 245.6% during the second quarter. Marshall Wace LLP now owns 92,114 shares of the company’s stock worth $479,000 after purchasing an additional 65,457 shares in the last quarter. XTX Topco Ltd acquired a new stake in CI&T in the second quarter valued at approximately $76,000. Itau Unibanco Holding S.A. purchased a new stake in shares of CI&T in the second quarter valued at approximately $2,264,000. Finally, Banco BTG Pactual S.A. raised its stake in shares of CI&T by 23.0% during 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 during the period. 92.45% of the stock is owned by hedge funds and other institutional investors.

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.