CI&T (NYSE:CINT) Sees Unusually-High Trading Volume – Here’s What Happened

CI&T Inc. (NYSE:CINT) saw unusually-high trading volume on Wednesday . Approximately 109,902 shares changed hands during mid-day trading, an increase of 17% from the previous session’s volume of 93,598 shares.The stock last traded at $6.80 and had previously closed at $6.82.

Analyst Upgrades and Downgrades

CINT has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their target price on CI&T from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. The Goldman Sachs Group began coverage on CI&T in a research note on Wednesday, September 4th. They set a “neutral” rating and a $7.30 price objective for the company. Itau BBA Securities raised CI&T from a “market perform” rating to an “outperform” rating and set a $10.00 price target for the company in a research note on Friday, August 16th. Canaccord Genuity Group raised their target price on CI&T from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Finally, Citigroup upped their target price on CI&T from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, CI&T currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.11.

CI&T Trading Up 0.3 %

The company has a fifty day simple moving average of $6.90 and a two-hundred day simple moving average of $6.06. 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 stock has a market capitalization of $919.36 million, a P/E ratio of 52.47 and a beta of 1.16.

Hedge Funds Weigh In On CI&T

A number of institutional investors have recently bought and sold shares of the business. BW Gestao de Investimentos Ltda. lifted its stake in CI&T by 101.1% during the second quarter. BW Gestao de Investimentos Ltda. now owns 2,134,514 shares of the company’s stock worth $11,099,000 after purchasing an additional 1,073,302 shares during the last quarter. XTX Topco Ltd acquired a new stake in CI&T in the second quarter valued at $76,000. Itau Unibanco Holding S.A. acquired a new stake in CI&T during the 2nd quarter worth about $2,264,000. Marshall Wace LLP grew its holdings in CI&T by 245.6% during the 2nd quarter. Marshall Wace LLP now owns 92,114 shares of the company’s stock worth $479,000 after acquiring an additional 65,457 shares during the period. Finally, GSA Capital Partners LLP grew its stake in shares of CI&T by 12.5% in the 3rd quarter. GSA Capital Partners LLP now owns 27,010 shares of the company’s stock valued at $183,000 after buying an additional 2,995 shares during the period. Institutional investors and hedge funds 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.