Cintas Co. (NASDAQ:CTAS) Stock Position Trimmed by NumerixS Investment Technologies Inc

NumerixS Investment Technologies Inc cut its position in Cintas Co. (NASDAQ:CTAS) by 84.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 695 shares of the business services provider’s stock after selling 3,895 shares during the quarter. NumerixS Investment Technologies Inc’s holdings in Cintas were worth $165,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of CTAS. OppenheimerFunds Inc. increased its stake in Cintas by 336.6% during the 1st quarter. OppenheimerFunds Inc. now owns 653,407 shares of the business services provider’s stock valued at $132,061,000 after buying an additional 503,747 shares during the period. FMR LLC grew its stake in shares of Cintas by 21.2% in the 1st quarter. FMR LLC now owns 2,722,998 shares of the business services provider’s stock worth $550,345,000 after purchasing an additional 475,757 shares during the last quarter. Neuberger Berman Group LLC grew its stake in shares of Cintas by 145.6% in the 1st quarter. Neuberger Berman Group LLC now owns 409,863 shares of the business services provider’s stock worth $82,837,000 after purchasing an additional 242,991 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Cintas by 124.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 322,587 shares of the business services provider’s stock worth $65,199,000 after purchasing an additional 179,023 shares during the last quarter. Finally, CIBC Private Wealth Group LLC acquired a new position in shares of Cintas in the 1st quarter worth approximately $32,560,000. Hedge funds and other institutional investors own 67.78% of the company’s stock.

Shares of CTAS stock traded up $3.34 during trading on Friday, hitting $254.76. 22,549 shares of the company were exchanged, compared to its average volume of 553,144. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.69 and a current ratio of 1.98. The firm has a market capitalization of $25.62 billion, a price-to-earnings ratio of 33.51, a P/E/G ratio of 2.90 and a beta of 0.98. The business’s 50-day simple moving average is $259.58 and its 200 day simple moving average is $232.52. Cintas Co. has a twelve month low of $155.98 and a twelve month high of $270.36.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Tuesday, July 16th. The business services provider reported $2.07 EPS for the quarter, topping the consensus estimate of $1.94 by $0.13. The business had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Cintas had a net margin of 12.80% and a return on equity of 26.77%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period last year, the company posted $1.77 earnings per share. On average, equities analysts forecast that Cintas Co. will post 8.45 earnings per share for the current fiscal year.

Several brokerages have recently issued reports on CTAS. Barclays reaffirmed a “buy” rating and issued a $265.00 price objective on shares of Cintas in a research note on Thursday, July 18th. Royal Bank of Canada lifted their price objective on shares of Cintas to $267.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 17th. Nomura lifted their target price on shares of Cintas from $217.00 to $248.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Credit Suisse Group lifted their target price on shares of Cintas from $160.00 to $195.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 17th. Finally, Bank of America reissued a “buy” rating and issued a $287.00 target price (up from $261.00) on shares of Cintas in a research report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $241.44.

In related news, insider Michael Lawrence Thompson sold 4,888 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $260.79, for a total transaction of $1,274,741.52. Following the completion of the sale, the insider now directly owns 69,053 shares in the company, valued at $18,008,331.87. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Thomas E. Frooman sold 5,373 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $260.79, for a total transaction of $1,401,224.67. Following the sale, the vice president now owns 127,624 shares of the company’s stock, valued at $33,283,062.96. The disclosure for this sale can be found here. Company insiders own 19.10% of the company’s stock.

Cintas Company Profile

Cintas Corporation provides corporate identity uniforms and related business services primarily in North America, Latin America, Europe, and Asia. It operates through Uniform Rental and Facility Services and First Aid and Safety Services segments. The company rents and services uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, and carpet and tile cleaning services, as well as sells uniforms directly.

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Institutional Ownership by Quarter for Cintas (NASDAQ:CTAS)

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