CI&T (NYSE:CINT) Sees Large Volume Increase – Still a Buy?

CI&T Inc. (NYSE:CINT) saw an uptick in trading volume on Wednesday . 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.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CINT shares. Citigroup boosted their price target on CI&T from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Monday, August 19th. JPMorgan Chase & Co. lifted their target price on shares of CI&T from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Canaccord Genuity Group lifted their price target on shares of CI&T from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Monday, November 18th. The Goldman Sachs Group initiated coverage on shares of CI&T in a research note on Wednesday, September 4th. They set a “neutral” rating and a $7.30 target price on the stock. Finally, Itau BBA Securities raised shares of CI&T from a “market perform” rating to an “outperform” rating and set a $10.00 target price on the stock in a research note on Friday, August 16th. 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $7.11.

CI&T Stock Performance

The stock has a 50-day moving average price of $6.90 and a 200 day moving average price 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 firm has a market capitalization of $919.36 million, a price-to-earnings ratio of 52.47 and a beta of 1.16.

Institutional Investors Weigh In On CI&T

Several large investors have recently modified their holdings of the company. Virtu Financial LLC purchased a new stake in shares of CI&T during the third quarter worth approximately $108,000. State Street Corp raised its position in CI&T by 28.8% in the third quarter. State Street Corp now owns 67,380 shares of the company’s stock worth $458,000 after acquiring an additional 15,083 shares in the last quarter. GSA Capital Partners LLP raised its position in CI&T by 12.5% in the third quarter. GSA Capital Partners LLP now owns 27,010 shares of the company’s stock worth $183,000 after acquiring an additional 2,995 shares in the last quarter. Marshall Wace LLP raised its position in CI&T by 245.6% in the second quarter. Marshall Wace LLP now owns 92,114 shares of the company’s stock worth $479,000 after acquiring an additional 65,457 shares in the last quarter. Finally, Itau Unibanco Holding S.A. purchased a new position in CI&T in the second quarter worth $2,264,000. 92.45% of the stock is owned by institutional investors and hedge funds.

CI&T Company Profile

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.