Short Interest in CI&T Inc. (NYSE:CINT) Declines By 13.2%

CI&T Inc. (NYSE:CINT - Get Free Report) was the target of a large decline in short interest during the month of October. As of October 15th, there was short interest totalling 157,500 shares, a decline of 13.2% from the September 30th total of 181,500 shares. Approximately 0.8% of the shares of the company are sold short. Based on an average daily volume of 73,300 shares, the days-to-cover ratio is presently 2.1 days.

Institutional Trading of CI&T

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BW Gestao de Investimentos Ltda. raised its stake in CI&T by 101.1% in the 2nd 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 last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of CI&T during the second quarter worth $2,264,000. Marshall Wace LLP raised its position in shares of 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 buying an additional 65,457 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of CI&T in the second quarter worth about $76,000. Finally, Banco BTG Pactual S.A. lifted its stake in shares of CI&T by 23.0% in the first quarter. Banco BTG Pactual S.A. now owns 53,467 shares of the company's stock worth $221,000 after buying an additional 10,000 shares in the last quarter. Hedge funds and other institutional investors own 92.45% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on CINT shares. Itau BBA Securities raised shares of CI&T from a "market perform" rating to an "outperform" rating and set a $10.00 price target for the company in a research report on Friday, August 16th. JPMorgan Chase & Co. upped their price target 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 increased their price target on CI&T from $6.00 to $9.00 and gave the stock a "buy" rating in a research report on Thursday, August 22nd. The Goldman Sachs Group started coverage on CI&T in a research note on Wednesday, September 4th. They issued a "neutral" rating and a $7.30 target price on the stock. Finally, Citigroup lifted 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. Five equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $7.00.

CI&T Price Performance

CINT stock traded down $0.32 during mid-day trading on Tuesday, reaching $6.58. 95,601 shares of the company's stock were exchanged, compared to its average volume of 96,245. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.80 and a quick ratio of 1.80. CI&T has a 12-month low of $3.34 and a 12-month high of $8.04. The stock's 50 day moving average is $6.94 and its 200 day moving average is $5.65. The company has a market cap of $884.43 million, a price-to-earnings ratio of 36.56 and a beta of 1.15.

CI&T (NYSE:CINT - Get Free Report) last announced its earnings results on Friday, August 16th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.01). CI&T had a net margin of 4.97% and a return on equity of 10.93%. The business had revenue of $100.45 million for the quarter, compared to analysts' expectations of $104.75 million. On average, research analysts expect that CI&T will post 0.2 EPS for the current year.

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.