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

Shares of CI&T Inc. (NYSE:CINT) gapped down prior to trading on Tuesday . The stock had previously closed at $3.89, but opened at $3.67. CI&T shares last traded at $3.73, with a volume of 3,144 shares.

Wall Street Analyst Weigh In

Several brokerages recently commented on CINT. Wedbush lowered CI&T from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $7.00 to $4.00 in a report on Tuesday, July 21st. Wall Street Zen cut CI&T from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Weiss Ratings downgraded CI&T from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, June 29th. TD Cowen reduced their price target on shares of CI&T from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Wednesday, August 12th. Finally, UBS Group lowered their price objective on shares of CI&T from $7.20 to $6.20 and set a “buy” rating on the stock in a research note on Wednesday, August 12th. Seven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $6.08.

CI&T Stock Down 3.5%

The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.15. The company has a fifty day simple moving average of $3.47 and a 200-day simple moving average of $4.15. The firm has a market cap of $480.45 million, a P/E ratio of 12.31 and a beta of 0.81.

CI&T (NYSE:CINT) last posted its quarterly earnings data on Wednesday, August 12th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.02). CI&T had a return on equity of 11.69% and a net margin of 6.79%.The company had revenue of $142.82 million during the quarter, compared to the consensus estimate of $140.05 million. On average, equities analysts anticipate that CI&T Inc. will post 0.31 earnings per share for the current year.

Hedge Funds Weigh In On CI&T

A number of hedge funds have recently modified their holdings of the company. State Street Corp increased its stake in shares of CI&T by 6.4% in the fourth quarter. State Street Corp now owns 62,242 shares of the company’s stock worth $253,000 after purchasing an additional 3,719 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of CI&T by 45.7% during the 4th quarter. Franklin Resources Inc. now owns 15,892 shares of the company’s stock valued at $65,000 after buying an additional 4,983 shares in the last quarter. Wedbush Securities Inc. boosted its holdings in CI&T by 50.6% in the 4th quarter. Wedbush Securities Inc. now owns 16,975 shares of the company’s stock worth $69,000 after buying an additional 5,700 shares during the period. Lazard Asset Management LLC boosted its holdings in CI&T by 6.4% in the 1st quarter. Lazard Asset Management LLC now owns 102,742 shares of the company’s stock worth $521,000 after buying an additional 6,171 shares during the period. Finally, R Squared Ltd increased its stake in CI&T by 24.1% in the 1st quarter. R Squared Ltd now owns 34,521 shares of the company’s stock worth $175,000 after buying an additional 6,707 shares in the last quarter. 92.45% of the stock is currently owned by institutional investors.

CI&T Company Profile

CI&T Inc (NYSE:CINT) is a global digital solutions and technology services provider specializing in end-to-end digital transformation. The company partners with clients across industries such as financial services, retail, healthcare and technology to deliver tailored software products, agile development practices and customer-centric design. Its core offerings include digital strategy consulting, user experience and interface design, cloud-native application development, data engineering and full-cycle product lifecycle management.

Leveraging a proprietary agile framework, CI&T helps organizations accelerate time-to-market and improve operational efficiency through continuous delivery and DevOps automation.