CI&T (NYSE:CINT) Shares Gap Up - Here's Why

Key Points

• CI&T's stock price gapped up from $4.86 to $5.66 before settling at $5.37, reflecting a 10.9% increase.
• Research analysts generally maintain a positive outlook on CI&T, with ratings between "buy" and "hold" and a consensus price target of $8.01.
• Institutional investors have significantly increased their holdings in CI&T, indicating a strong confidence in the company's future prospects.

CI&T Inc. (NYSE:CINT - Get Free Report)'s stock price gapped up before the market opened on Thursday . The stock had previously closed at $4.86, but opened at $5.66. CI&T shares last traded at $5.37, with a volume of 93,025 shares.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CINT shares. Cowen reaffirmed a "buy" rating on shares of CI&T in a report on Wednesday, May 14th. Wall Street Zen cut CI&T from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Canaccord Genuity Group reissued a "buy" rating and issued a $8.00 price target (down previously from $10.00) on shares of CI&T in a research note on Thursday, June 26th. Citigroup began coverage on CI&T in a research note on Friday, April 25th. They issued a "buy" rating and a $7.00 price target on the stock. Finally, UBS Group decreased their price objective on CI&T from $8.00 to $6.80 and set a "neutral" rating for the company in a research report on Tuesday, July 22nd. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, CI&T presently has a consensus rating of "Moderate Buy" and an average price target of $8.01.

CI&T Trading Up 10.9%

The firm has a market capitalization of $725.94 million, a price-to-earnings ratio of 26.95 and a beta of 1.17. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.33. The company has a fifty day moving average price of $5.67 and a 200-day moving average price of $6.05.

CI&T (NYSE:CINT - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.02). The firm had revenue of $110.88 million for the quarter, compared to analyst estimates of $111.48 million. CI&T had a net margin of 6.30% and a return on equity of 9.48%. During the same quarter in the prior year, the firm earned $0.30 earnings per share. On average, equities research analysts predict that CI&T Inc. will post 0.2 EPS for the current year.

Institutional Investors Weigh In On CI&T

Institutional investors have recently made changes to their positions in the company. BW Gestao de Investimentos Ltda. lifted its holdings in CI&T by 20.8% in the 4th quarter. BW Gestao de Investimentos Ltda. now owns 2,699,741 shares of the company's stock worth $16,387,000 after purchasing an additional 464,529 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in CI&T by 24,544.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,460,678 shares of the company's stock worth $8,720,000 after purchasing an additional 1,454,751 shares during the last quarter. Aberdeen Group plc increased its position in CI&T by 74.5% in the 2nd quarter. Aberdeen Group plc now owns 492,617 shares of the company's stock worth $2,970,000 after buying an additional 210,370 shares during the period. Herald Investment Management Ltd increased its position in CI&T by 26.8% in the 2nd quarter. Herald Investment Management Ltd now owns 450,000 shares of the company's stock worth $2,682,000 after buying an additional 95,000 shares during the period. Finally, Marshall Wace LLP increased its position in CI&T by 90.4% in the 2nd quarter. Marshall Wace LLP now owns 380,818 shares of the company's stock worth $2,273,000 after buying an additional 180,800 shares during the period. 92.45% of the stock is currently owned by institutional investors and hedge funds.

CI&T Company Profile

CI&T, Inc provides strategy, design and software engineering services to enable digital transformation. The firm's solutions and services include Digital Strategy, Customer-Centric Design and Top-of-the-Line Software Engineering. The company was founded by Cesar Nivaldo Gon, Bruno Guiçardi Neto and Fernando Matt Borges Martins on June 7, 2021 and is headquartered in Sao Paulo, Brazil.

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