Canaccord Genuity Group Upgrades CI&T (NYSE:CINT) to “Buy”

CI&T (NYSE:CINT) was upgraded by equities researchers at Canaccord Genuity Group from a “hold” rating to a “buy” rating in a report issued on Thursday, Benzinga reports. The firm presently has a $6.00 price target on the stock, up from their previous price target of $5.00. Canaccord Genuity Group’s price target points to a potential upside of 60.00% from the stock’s current price.

Several other research analysts have also recently commented on CINT. UBS Group assumed coverage on shares of CI&T in a report on Tuesday, May 14th. They set a “neutral” rating and a $4.20 target price for the company. Canaccord Genuity Group raised shares of CI&T from a “hold” rating to a “buy” rating and upped their price target for the stock from $5.00 to $6.00 in a research report on Thursday. Finally, Citigroup dropped their price target on shares of CI&T from $4.50 to $4.25 and set a “neutral” rating on the stock in a research report on Monday, April 22nd. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $5.42.

CI&T Stock Up 8.4 %

Shares of NYSE:CINT opened at $3.75 on Thursday. The company has a market capitalization of $504.04 million, a PE ratio of 17.05 and a beta of 1.03. CI&T has a 52 week low of $3.34 and a 52 week high of $7.20. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.00 and a current ratio of 2.00. The company has a 50 day moving average price of $4.04 and a two-hundred day moving average price of $4.57.

CI&T (NYSE:CINT) last announced its earnings results on Thursday, March 14th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.06 by $0.01. CI&T had a net margin of 7.11% and a return on equity of 15.96%. The business had revenue of $105.50 million during the quarter, compared to analysts’ expectations of $107.56 million. Analysts forecast that CI&T will post 0.25 earnings per share for the current year.

Hedge Funds Weigh In On CI&T

Several large investors have recently modified their holdings of CINT. Banco BTG Pactual S.A. raised its position 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 valued at $221,000 after purchasing an additional 10,000 shares during the period. Russell Investments Group Ltd. increased its position in CI&T by 4.6% during the fourth quarter. Russell Investments Group Ltd. now owns 160,083 shares of the company’s stock worth $842,000 after acquiring an additional 7,047 shares during the period. Herald Investment Management Ltd bought a new position in CI&T during the third quarter worth about $2,304,000. BW Gestao de Investimentos Ltda. increased its position in CI&T by 168.7% during the first quarter. BW Gestao de Investimentos Ltda. now owns 1,061,212 shares of the company’s stock worth $4,383,000 after acquiring an additional 666,212 shares during the period. Finally, WCM Investment Management LLC increased its position in CI&T by 4.4% during the first quarter. WCM Investment Management LLC now owns 1,385,113 shares of the company’s stock worth $5,721,000 after acquiring an additional 58,489 shares during the period. 92.45% of the stock is owned by institutional investors.

CI&T Company Profile

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.