CI&T (NYSE:CINT) Sees Large Volume Increase – Here’s Why

CI&T Inc. (NYSE:CINT) shares saw strong trading volume on Wednesday . 128,686 shares traded hands during mid-day trading, an increase of 106% from the previous session’s volume of 62,535 shares.The stock last traded at $6.48 and had previously closed at $6.56.

Analyst Ratings Changes

A number of research analysts have commented on the company. TD Cowen initiated coverage on CI&T in a research note on Friday, December 6th. They set a “buy” rating and a $9.00 price target on the stock. Canaccord Genuity Group raised their target price on CI&T from $9.00 to $10.00 and gave the company a “buy” rating in a report on Monday, November 18th. Finally, UBS Group boosted their price target on shares of CI&T from $7.50 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, CI&T presently has an average rating of “Moderate Buy” and a consensus target price of $7.92.

CI&T Trading Up 1.7 %

The firm has a market capitalization of $905.92 million, a PE ratio of 51.85 and a beta of 1.16. The company’s 50-day moving average price is $6.39 and its 200-day moving average price is $6.55. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.58 and a current ratio of 1.58.

Institutional Trading of CI&T

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CINT. GSA Capital Partners LLP raised its stake in CI&T by 12.5% during the 3rd 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. XTX Topco Ltd purchased a new position in shares of CI&T during the second quarter worth about $76,000. State Street Corp lifted its holdings in shares of CI&T by 28.8% in the 3rd quarter. State Street Corp now owns 67,380 shares of the company’s stock valued at $458,000 after purchasing an additional 15,083 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of CI&T in the 3rd quarter valued at about $108,000. Finally, Verde Servicos Internacionais S.A. acquired a new stake in shares of CI&T in the 4th quarter valued at about $152,000. Institutional investors and hedge funds own 92.45% of the company’s stock.

About CI&T

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.