CI&T (NYSE:CINT) Shares Down 10.6% – Here’s What Happened

CI&T Inc. (NYSE:CINT)’s share price fell 10.6% during mid-day trading on Friday . The stock traded as low as $6.18 and last traded at $6.22. 73,025 shares traded hands during mid-day trading, a decline of 22% from the average session volume of 93,761 shares. The stock had previously closed at $6.96.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CINT shares. Canaccord Genuity Group upped their price target on CI&T from $6.00 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. JPMorgan Chase & Co. raised their target price on CI&T from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Citigroup raised their price objective on CI&T from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Monday, August 19th. 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 for the company. Finally, Itau BBA Securities upgraded shares of CI&T from a “market perform” rating to an “outperform” rating and set a $10.00 price target on the stock in a research report on Friday, August 16th. Five investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $7.00.

CI&T Stock Down 8.9 %

The company has a market cap of $852.17 million, a P/E ratio of 47.85 and a beta of 1.16. The stock’s 50-day moving average price is $6.91 and its 200-day moving average price is $5.86. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.45.

CI&T (NYSE:CINT) last announced its quarterly earnings data on Friday, August 16th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). CI&T had a net margin of 4.97% and a return on equity of 10.93%. The firm had revenue of $100.45 million during the quarter, compared to analyst estimates of $104.75 million. As a group, research analysts forecast that CI&T Inc. will post 0.22 EPS for the current year.

Institutional Trading of CI&T

A number of hedge funds and other institutional investors have recently bought and sold shares of CINT. Itau Unibanco Holding S.A. bought a new stake in shares of CI&T during the second quarter worth about $2,264,000. XTX Topco Ltd purchased a new stake in shares of CI&T in the second quarter worth approximately $76,000. BW Gestao de Investimentos Ltda. lifted its holdings in shares of CI&T by 101.1% in the second 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 in the last quarter. Marshall Wace LLP boosted its position 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. Finally, State Street Corp raised its position in CI&T by 28.8% in the 3rd quarter. State Street Corp now owns 67,380 shares of the company’s stock valued at $458,000 after buying an additional 15,083 shares during the last quarter. Institutional investors own 92.45% of the company’s stock.

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.