JPMorgan Chase & Co. Buys 1,454,751 Shares of CI&T Inc. $CINT

JPMorgan Chase & Co. grew its stake in CI&T Inc. (NYSE:CINT) by 24,544.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,460,678 shares of the company’s stock after purchasing an additional 1,454,751 shares during the period. JPMorgan Chase & Co. owned approximately 1.08% of CI&T worth $8,720,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Hsbc Holdings PLC purchased a new stake in CI&T during the 1st quarter valued at $62,000. Walleye Capital LLC purchased a new stake in shares of CI&T in the first quarter valued at $103,000. Cubist Systematic Strategies LLC raised its stake in shares of CI&T by 93.8% in the first quarter. Cubist Systematic Strategies LLC now owns 36,356 shares of the company’s stock valued at $217,000 after acquiring an additional 17,601 shares during the period. Jane Street Group LLC bought a new stake in shares of CI&T in the 1st quarter worth about $163,000. Finally, Acadian Asset Management LLC boosted its stake in shares of CI&T by 47.7% during the 1st quarter. Acadian Asset Management LLC now owns 90,353 shares of the company’s stock worth $531,000 after purchasing an additional 29,200 shares during the period. Institutional investors own 92.45% of the company’s stock.

CI&T Trading Down 0.8%

CINT opened at $4.54 on Wednesday. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.23. The stock’s fifty day moving average is $4.56 and its two-hundred day moving average is $5.21. The company has a market capitalization of $610.77 million, a P/E ratio of 16.80 and a beta of 1.15. CI&T Inc. has a 52 week low of $3.98 and a 52 week high of $8.00.

CI&T (NYSE:CINT) last posted its quarterly earnings results on Thursday, November 13th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). The firm had revenue of $127.31 million for the quarter, compared to the consensus estimate of $673.11 million. CI&T had a return on equity of 12.42% and a net margin of 7.83%. Analysts forecast that CI&T Inc. will post 0.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Canaccord Genuity Group decreased their price objective on shares of CI&T from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Wall Street Zen lowered CI&T from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. JPMorgan Chase & Co. dropped their price objective on CI&T from $8.00 to $7.00 and set an “overweight” rating for the company in a report on Thursday, November 13th. Weiss Ratings reiterated a “hold (c-)” rating on shares of CI&T in a research note on Thursday, October 30th. Finally, Zacks Research downgraded CI&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, CI&T has a consensus rating of “Moderate Buy” and a consensus target price of $7.16.

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.