Millennium Management LLC Trims Stock Holdings in CI&T Inc. (NYSE:CINT)

Millennium Management LLC trimmed its stake in CI&T Inc. (NYSE:CINT - Free Report) by 90.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,225 shares of the company's stock after selling 283,875 shares during the quarter. Millennium Management LLC's holdings in CI&T were worth $183,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Stifel Financial Corp acquired a new stake in CI&T in the 4th quarter valued at about $68,000. Cubist Systematic Strategies LLC raised its stake in CI&T by 82.2% in the fourth quarter. Cubist Systematic Strategies LLC now owns 18,755 shares of the company's stock valued at $114,000 after buying an additional 8,459 shares during the period. Marshall Wace LLP lifted its position in shares of CI&T by 134.4% in the fourth quarter. Marshall Wace LLP now owns 88,142 shares of the company's stock valued at $535,000 after buying an additional 50,543 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of CI&T by 110.0% during the 4th quarter. Renaissance Technologies LLC now owns 111,700 shares of the company's stock worth $678,000 after acquiring an additional 58,500 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of CI&T during the 4th quarter worth approximately $3,036,000. Institutional investors and hedge funds own 92.45% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. raised CI&T from a "neutral" rating to an "overweight" rating and set a $7.00 price target for the company in a report on Monday, May 19th. Cowen reissued a "buy" rating on shares of CI&T in a research report on Wednesday, May 14th. Citigroup started coverage on shares of CI&T in a research note on Friday, April 25th. They set a "buy" rating and a $7.00 target price for the company. Finally, Canaccord Genuity Group reiterated a "buy" rating and issued a $10.00 price target on shares of CI&T in a research note on Monday, March 17th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $8.41.

CI&T Trading Down 2.0%

CI&T stock traded down $0.12 during trading hours on Friday, hitting $5.77. The stock had a trading volume of 89,743 shares, compared to its average volume of 107,667. CI&T Inc. has a one year low of $4.42 and a one year high of $8.04. 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 stock has a market cap of $777.12 million, a price-to-earnings ratio of 44.39 and a beta of 1.21. The business's 50 day simple moving average is $5.70 and its 200-day simple moving average is $6.26.

CI&T (NYSE:CINT - Get Free Report) last released 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). CI&T had a return on equity of 9.55% and a net margin of 4.39%. The firm had revenue of $110.88 million for the quarter, compared to the consensus estimate of $111.48 million. During the same quarter in the previous year, the business posted $0.30 EPS. On average, equities analysts predict that CI&T Inc. will post 0.2 EPS for the current fiscal year.

CI&T 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.