CI&T (NYSE:CINT) Shares Up 6.6% – Here’s What Happened

CI&T Inc. (NYSE:CINT) was up 6.6% on Monday . The company traded as high as $6.62 and last traded at $6.50. Approximately 68,588 shares were traded during mid-day trading, a decline of 31% from the average daily volume of 99,903 shares. The stock had previously closed at $6.10.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CINT. JPMorgan Chase & Co. upgraded shares of CI&T from a “neutral” rating to an “overweight” rating and set a $7.00 price target on the stock in a research note on Monday. Wedbush set a $9.00 price target on shares of CI&T in a report on Monday, February 3rd. Cowen reissued a “buy” rating on shares of CI&T in a research report on Wednesday, May 14th. Citigroup began coverage on shares of CI&T in a research report on Friday, April 25th. They issued a “buy” rating and a $7.00 price target for the company. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $10.00 price target on shares of CI&T in a report on Monday, March 17th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $8.14.

CI&T Trading Up 6.4%

The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.39. The business has a 50-day moving average of $5.71 and a 200-day moving average of $6.35. The stock has a market cap of $874.09 million, a price-to-earnings ratio of 49.93 and a beta of 1.24.

CI&T (NYSE:CINT) last posted its quarterly earnings data on Tuesday, May 13th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.02). CI&T had a return on equity of 9.55% and a net margin of 4.39%. The firm had revenue of $110.88 million for the quarter, compared to analyst estimates of $111.48 million. During the same period in the prior year, the company posted $0.30 EPS. As a group, research analysts forecast that CI&T Inc. will post 0.2 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Hsbc Holdings PLC acquired a new position in CI&T during the 1st quarter valued at about $62,000. Stifel Financial Corp bought a new position in CI&T in the 4th quarter valued at approximately $68,000. Walleye Capital LLC bought a new position in CI&T in the 1st quarter worth $103,000. Two Sigma Investments LP bought a new stake in CI&T during the fourth quarter worth approximately $111,000. Finally, Cubist Systematic Strategies LLC increased its position in shares of CI&T by 82.2% in the 4th quarter. Cubist Systematic Strategies LLC now owns 18,755 shares of the company’s stock valued at $114,000 after acquiring an additional 8,459 shares during the period. 92.45% of the stock is currently owned by institutional investors.

CI&T Company Profile

CI&T, Inc provides strategy, design and software engineering services to enable digital transformation. The firm’s solutions and services include Digital Strategy, Customer-Centric Design and Top-of-the-Line Software Engineering. The company was founded by Cesar Nivaldo Gon, Bruno Guiçardi Neto and Fernando Matt Borges Martins on June 7, 2021 and is headquartered in Sao Paulo, Brazil.