CI&T (NYSE:CINT) Reaches New 12-Month Low on Analyst Downgrade

Shares of CI&T Inc. (NYSE:CINT) hit a new 52-week low during mid-day trading on Wednesday after Wedbush lowered their price target on the stock from $9.00 to $7.00. Wedbush currently has an outperform rating on the stock. CI&T traded as low as $3.75 and last traded at $3.78, with a volume of 41691 shares. The stock had previously closed at $3.82.

CINT has been the topic of several other reports. Canaccord Genuity Group increased their price objective on CI&T from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Thursday, March 12th. Weiss Ratings raised CI&T from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 4th. JPMorgan Chase & Co. decreased their price target on shares of CI&T from $7.00 to $6.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 18th. UBS Group boosted their price objective on shares of CI&T from $7.00 to $7.10 and gave the stock a “buy” rating in a report on Thursday, March 12th. Finally, Wall Street Zen raised shares of CI&T from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $6.80.

Hedge Funds Weigh In On CI&T

A number of large investors have recently bought and sold shares of CINT. R Squared Ltd lifted its position in CI&T by 24.1% in the first quarter. R Squared Ltd now owns 34,521 shares of the company’s stock valued at $175,000 after purchasing an additional 6,707 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of CI&T in the first quarter worth $60,000. XTX Topco Ltd purchased a new position in shares of CI&T in the fourth quarter worth $287,000. Lazard Asset Management LLC raised its holdings in CI&T by 41.2% during the 4th quarter. Lazard Asset Management LLC now owns 96,571 shares of the company’s stock valued at $393,000 after buying an additional 28,162 shares during the last quarter. Finally, RPO LLC bought a new stake in CI&T during the 4th quarter valued at $60,000. 92.45% of the stock is owned by hedge funds and other institutional investors.

CI&T Stock Down 3.0%

The firm has a market cap of $498.62 million, a PE ratio of 12.08 and a beta of 0.85. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.33 and a current ratio of 1.34. The company’s 50-day simple moving average is $4.75 and its two-hundred day simple moving average is $4.70.

CI&T (NYSE:CINT) last released its quarterly earnings data on Monday, May 11th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). The firm had revenue of $128.74 million during the quarter, compared to analysts’ expectations of $133.28 million. CI&T had a net margin of 7.90% and a return on equity of 13.33%. On average, analysts predict that CI&T Inc. will post 0.39 earnings per share for the current fiscal year.

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.