Insider Buying: CI&T (NYSE:CINT) Director Purchases $20,881.35 in Stock

Key Points

• CI&T director Fernando Matt Borges Martins made multiple insider purchases, including 6,629 shares for $20,881.35 at $3.15 each, increasing his direct holdings by 160.78% to 10,752 shares. He also bought 9,116 shares on October 7 and 4,123 shares on October 1.
• CI&T shares fell 1.6% to $3.07, near the lower end of their 52-week range of $2.80 to $5.80. The company has a $413 million market capitalization and trades at a price-to-earnings ratio of 10.58.
• The company’s latest quarterly earnings of $0.07 per share missed analysts’ $0.09 estimate, although revenue of $142.82 million exceeded expectations. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $6.08, despite several recent target reductions.

CI&T Inc. (NYSE:CINT - Get Free Report) Director Fernando Matt Borges Martins purchased 6,629 shares of the stock in a transaction dated Tuesday, October 6th. The shares were acquired at an average price of $3.15 per share, for a total transaction of $20,881.35. Following the acquisition, the director directly owned 10,752 shares of the company's stock, valued at $33,868.80. This represents a 160.78% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Fernando Matt Borges Martins also recently made the following trade(s):

• On Wednesday, October 7th, Fernando Matt Borges Martins purchased 9,116 shares of CI&T stock. The shares were acquired at an average cost of $3.12 per share, for a total transaction of $28,441.92.
• On Thursday, October 1st, Fernando Matt Borges Martins acquired 4,123 shares of CI&T stock. The stock was acquired at an average cost of $3.18 per share, with a total value of $13,111.14.

CI&T Stock Down 1.6%

CI&T stock traded down $0.05 during mid-day trading on Thursday, hitting $3.07. The company's stock had a trading volume of 74,335 shares, compared to its average volume of 131,057. CI&T Inc. has a 52-week low of $2.80 and a 52-week high of $5.80. The company has a market cap of $413.03 million, a PE ratio of 10.58 and a beta of 0.83. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.31 and a quick ratio of 1.31. The firm's 50 day moving average is $3.35 and its 200 day moving average is $3.74.

CI&T (NYSE:CINT - Get Free Report) last released its earnings results on Wednesday, August 12th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.02). The business had revenue of $142.82 million for the quarter, compared to analysts' expectations of $140.05 million. CI&T had a net margin of 6.79% and a return on equity of 11.69%. On average, analysts anticipate that CI&T Inc. will post 0.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Wedbush lowered shares of CI&T from an "outperform" rating to a "neutral" rating and dropped their price objective for the company from $7.00 to $4.00 in a research note on Tuesday, July 21st. UBS Group decreased their target price on shares of CI&T from $7.20 to $6.20 and set a "buy" rating for the company in a research note on Wednesday, August 12th. JPMorgan Chase & Co. lowered their price target on shares of CI&T from $6.00 to $5.00 and set an "overweight" rating on the stock in a report on Wednesday, August 12th. Wall Street Zen downgraded shares of CI&T from a "buy" rating to a "hold" rating in a research note on Saturday, June 13th. Finally, Weiss Ratings reiterated a "sell (d+)" rating on shares of CI&T in a report on Friday, September 25th. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, CI&T presently has an average rating of "Moderate Buy" and a consensus target price of $6.08.

Hedge Funds Weigh In On CI&T

A number of hedge funds have recently added to or reduced their stakes in the company. Squarepoint Ops LLC acquired a new stake in CI&T in the second quarter valued at approximately $43,000. Beacon Hill Wealth Management LTD. acquired a new position in shares of CI&T during the 2nd quarter worth $617,000. AXQ Capital LP bought a new position in shares of CI&T during the 2nd quarter valued at $74,000. Wedbush Securities Inc. raised its holdings in shares of CI&T by 118.1% during the 2nd quarter. Wedbush Securities Inc. now owns 41,600 shares of the company's stock valued at $139,000 after purchasing an additional 22,525 shares in the last quarter. Finally, NewEdge Advisors LLC acquired a new stake in shares of CI&T in the 1st quarter valued at $181,000. Institutional investors and hedge funds own 92.45% of the company's stock.

CI&T Company Profile

CI&T NYSE: CINT is a global technology and digital transformation services company that helps organizations modernize their operations, customer experiences and technology platforms. Its offerings include business and technology strategy, product design, software engineering, cloud modernization, data and artificial intelligence, cybersecurity, and managed technology services.

Founded in 1995 and headquartered in Campinas, Brazil, CI&T works with clients across industries such as consumer products, financial services, healthcare, manufacturing and retail.

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