CI&T Inc. (NYSE:CINT) Short Interest Down 10.5% in October

CI&T Inc. (NYSE:CINT) was the target of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 140,900 shares, a decline of 10.5% from the October 15th total of 157,500 shares. Approximately 0.7% of the shares of the company are short sold. Based on an average daily volume of 71,200 shares, the short-interest ratio is presently 2.0 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on 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 report on Friday, August 16th. JPMorgan Chase & Co. lifted their price target on CI&T from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Citigroup raised their target price on shares of CI&T from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Canaccord Genuity Group raised their target price on shares of CI&T from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday. Finally, The Goldman Sachs Group initiated coverage on shares of CI&T in a research report on Wednesday, September 4th. They set a “neutral” rating and a $7.30 target price on the stock. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $7.11.

CI&T Stock Performance

NYSE:CINT traded up $0.22 during trading hours on Tuesday, hitting $6.66. 58,114 shares of the company were exchanged, compared to its average volume of 93,717. CI&T has a 52-week low of $3.34 and a 52-week high of $8.04. The company’s 50 day moving average price is $6.89 and its 200-day moving average price is $5.93. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.58 and a quick ratio of 1.58. The stock has a market capitalization of $895.17 million, a price-to-earnings ratio of 49.39 and a beta of 1.16.

CI&T (NYSE:CINT) last announced its quarterly earnings data on Friday, August 16th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). CI&T had a net margin of 4.39% and a return on equity of 9.55%. The business had revenue of $100.45 million for the quarter, compared to analysts’ expectations of $104.75 million. As a group, research analysts forecast that CI&T will post 0.22 earnings per share for the current year.

Institutional Investors Weigh In On CI&T

A number of hedge funds and other institutional investors have recently modified their holdings of CINT. BW Gestao de Investimentos Ltda. boosted its holdings in CI&T by 101.1% in the 2nd quarter. BW Gestao de Investimentos Ltda. now owns 2,134,514 shares of the company’s stock valued at $11,099,000 after purchasing an additional 1,073,302 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of CI&T in the second quarter valued at about $76,000. Itau Unibanco Holding S.A. acquired a new position in shares of CI&T in the 2nd quarter valued at approximately $2,264,000. Marshall Wace LLP increased its stake in CI&T by 245.6% during the second quarter. Marshall Wace LLP now owns 92,114 shares of the company’s stock valued at $479,000 after purchasing an additional 65,457 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its position in shares of CI&T by 12.5% during the third quarter. GSA Capital Partners LLP now owns 27,010 shares of the company’s stock worth $183,000 after buying an additional 2,995 shares during the period. 92.45% of the stock is currently owned by institutional investors and hedge funds.

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.