CI&T (NYSE:CINT) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of CI&T Inc. (NYSE:CINT) saw unusually-high trading volume on Wednesday . Approximately 109,902 shares changed hands during mid-day trading, an increase of 17% from the previous session’s volume of 93,598 shares.The stock last traded at $6.80 and had previously closed at $6.82.

Analyst Ratings Changes

A number of research analysts have recently commented on CINT shares. Canaccord Genuity Group increased their target price on CI&T from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, November 18th. Citigroup lifted their price target on CI&T from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Itau BBA Securities raised CI&T from a “market perform” rating to an “outperform” rating and set a $10.00 price objective for the company in a research note on Friday, August 16th. The Goldman Sachs Group assumed coverage on CI&T in a report on Wednesday, September 4th. They issued a “neutral” rating and a $7.30 target price for the company. Finally, JPMorgan Chase & Co. raised their price target on CI&T from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Five equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, CI&T has an average rating of “Moderate Buy” and an average price target of $7.11.

CI&T Trading Up 0.1 %

The stock has a market capitalization of $918.03 million, a P/E ratio of 52.54 and a beta of 1.16. The stock’s fifty day moving average price is $6.90 and its 200 day moving average price is $6.06. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.58 and a quick ratio of 1.58.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CINT. XTX Topco Ltd purchased a new stake in shares of CI&T in the 2nd quarter worth $76,000. Virtu Financial LLC bought a new stake in shares of CI&T in the third quarter valued at about $108,000. GSA Capital Partners LLP lifted its stake in CI&T by 12.5% in the third 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 during the period. State Street Corp grew its holdings in CI&T by 28.8% during the 3rd quarter. State Street Corp now owns 67,380 shares of the company’s stock worth $458,000 after acquiring an additional 15,083 shares in the last quarter. Finally, Marshall Wace LLP increased its position in CI&T by 245.6% during the 2nd quarter. Marshall Wace LLP now owns 92,114 shares of the company’s stock valued at $479,000 after purchasing an additional 65,457 shares during the period. 92.45% of the stock is currently owned by hedge funds and other institutional investors.

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.