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

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

CI&T Stock Up 3.4 %

Shares of CINT traded up $0.22 during mid-day trading on Tuesday, hitting $6.66. The company’s stock had a trading volume of 58,114 shares, compared to its average volume of 93,717. 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 firm has a market capitalization of $895.17 million, a price-to-earnings ratio of 49.39 and a beta of 1.16. The company’s 50-day moving average is $6.89 and its 200-day moving average is $5.93. CI&T has a 52-week low of $3.34 and a 52-week high of $8.04.

CI&T (NYSE:CINT) last posted 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). The firm had revenue of $100.45 million for the quarter, compared to analysts’ expectations of $104.75 million. CI&T had a return on equity of 9.55% and a net margin of 4.39%. On average, equities research analysts forecast that CI&T will post 0.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. JPMorgan Chase & Co. increased their target price on CI&T from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Friday, September 6th. 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 price objective for the company. Citigroup increased their price target on CI&T from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. Canaccord Genuity Group boosted their price objective on CI&T from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Itau BBA Securities upgraded CI&T from a “market perform” rating to an “outperform” rating and set a $10.00 target price for the company in a research note on Friday, August 16th. Five equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, CI&T currently has an average rating of “Moderate Buy” and an average target price of $7.11.

Institutional Investors Weigh In On CI&T

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. purchased a new stake in shares of CI&T in the 2nd quarter worth about $2,264,000. XTX Topco Ltd purchased a new stake in CI&T during the 2nd quarter worth $76,000. BW Gestao de Investimentos Ltda. raised its stake in shares of 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 valued at $11,099,000 after purchasing an additional 1,073,302 shares during the period. Marshall Wace LLP boosted its holdings in CI&T by 245.6% in 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, State Street Corp increased its position in shares of CI&T by 28.8% in the 3rd quarter. State Street Corp now owns 67,380 shares of the company’s stock worth $458,000 after purchasing an additional 15,083 shares during the last quarter. Hedge funds and other institutional investors 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.