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

CI&T Inc. (NYSE:CINT) was the recipient of a significant decline in short interest in 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 trading volume, of 71,200 shares, the days-to-cover ratio is currently 2.0 days.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Itau BBA Securities raised shares of CI&T from a “market perform” rating to an “outperform” rating and set a $10.00 price target on the stock in a report on Friday, August 16th. Citigroup upped their price target on shares of CI&T from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. JPMorgan Chase & Co. lifted their price objective on CI&T from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. The Goldman Sachs Group initiated coverage on CI&T in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $7.30 target price on the stock. Finally, Canaccord Genuity Group lifted their price target on CI&T from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Monday. Five research 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. According to data from MarketBeat, CI&T presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.11.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CINT. Itau Unibanco Holding S.A. bought a new position in shares of CI&T in the 2nd quarter worth about $2,264,000. XTX Topco Ltd purchased a new position in shares of CI&T during the second quarter valued at approximately $76,000. BW Gestao de Investimentos Ltda. raised its position in shares of 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 worth $11,099,000 after purchasing an additional 1,073,302 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of 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 buying an additional 65,457 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of CI&T by 28.8% during the third quarter. State Street Corp now owns 67,380 shares of the company’s stock valued at $458,000 after purchasing an additional 15,083 shares in the last quarter. Hedge funds and other institutional investors own 92.45% of the company’s stock.

CI&T Trading Up 3.4 %

CINT stock traded up $0.22 during midday trading on Tuesday, hitting $6.66. The company had a trading volume of 58,114 shares, 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 stock has a market cap of $895.17 million, a price-to-earnings ratio of 49.39 and a beta of 1.16. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.39. The stock’s 50 day moving average price is $6.89 and its 200 day moving average price is $5.93.

CI&T (NYSE:CINT) last issued its quarterly earnings data on Friday, August 16th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). CI&T had a return on equity of 9.55% and a net margin of 4.39%. The company had revenue of $100.45 million during the quarter, compared to the consensus estimate of $104.75 million. As a group, equities research analysts expect that CI&T will post 0.22 earnings per share for the current fiscal year.

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.