CI&T (NYSE:CINT) Stock Price Down 3.5%

CI&T Inc. (NYSE:CINT)’s share price dropped 3.5% during trading on Wednesday . The stock traded as low as $4.69 and last traded at $4.73. Approximately 67,389 shares changed hands during trading, a decline of 39% from the average daily volume of 110,833 shares. The stock had previously closed at $4.90.

Analysts Set New Price Targets

CINT has been the topic of several analyst reports. Canaccord Genuity Group raised 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 report on Thursday, May 23rd. UBS Group initiated coverage on CI&T in a report on Tuesday, May 14th. They set a “neutral” rating and a $4.20 target price on the stock. Citigroup dropped their target price on CI&T from $4.50 to $4.25 and set a “neutral” rating on the stock in a report on Monday, April 22nd. Wedbush began coverage on CI&T in a report on Friday, May 24th. They set an “outperform” rating and a $5.00 target price on the stock. Finally, Canaccord Genuity Group raised CI&T from a “hold” rating to a “buy” rating and raised their price objective for the company from $5.00 to $6.00 in a report on Thursday, May 23rd. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $5.37.

CI&T Stock Performance

The company has a market capitalization of $627.69 million, a price-to-earnings ratio of 27.22 and a beta of 1.09. The firm has a fifty day simple moving average of $4.12 and a 200 day simple moving average of $4.49. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.82 and a quick ratio of 1.82.

CI&T (NYSE:CINT) last released its earnings results on Thursday, March 14th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.01. CI&T had a return on equity of 14.03% and a net margin of 6.03%. The business had revenue of $105.50 million for the quarter, compared to the consensus estimate of $107.56 million. On average, analysts anticipate that CI&T Inc. will post 0.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CI&T

Institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. raised its position in CI&T by 4.6% in the fourth quarter. Russell Investments Group Ltd. now owns 160,083 shares of the company’s stock valued at $842,000 after purchasing an additional 7,047 shares during the period. Herald Investment Management Ltd purchased a new stake in CI&T in the third quarter valued at $2,304,000. Banco BTG Pactual S.A. raised its position in CI&T by 23.0% in the first quarter. Banco BTG Pactual S.A. now owns 53,467 shares of the company’s stock valued at $221,000 after purchasing an additional 10,000 shares during the period. BW Gestao de Investimentos Ltda. raised its position in CI&T by 168.7% in the first quarter. BW Gestao de Investimentos Ltda. now owns 1,061,212 shares of the company’s stock valued at $4,383,000 after purchasing an additional 666,212 shares during the period. Finally, WCM Investment Management LLC raised its position in CI&T by 4.4% in the first quarter. WCM Investment Management LLC now owns 1,385,113 shares of the company’s stock valued at $5,721,000 after purchasing an additional 58,489 shares during the period. Hedge funds and other institutional investors own 92.45% of the company’s stock.

CI&T Company 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.