Thoughtworks Holding, Inc. (NASDAQ:TWKS) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Thoughtworks Holding, Inc. (NASDAQ:TWKS) by 49.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 29,452 shares of the company’s stock after buying an additional 9,793 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Thoughtworks were worth $84,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Catalina Capital Group LLC purchased a new stake in Thoughtworks during the 1st quarter worth about $26,000. Duality Advisers LP purchased a new stake in Thoughtworks in the 1st quarter valued at about $36,000. Simplicity Wealth LLC purchased a new stake in Thoughtworks in the 2nd quarter valued at about $44,000. SG Americas Securities LLC purchased a new stake in Thoughtworks in the 2nd quarter valued at about $71,000. Finally, Pitcairn Co. purchased a new stake in shares of Thoughtworks during the 1st quarter worth about $102,000. Institutional investors and hedge funds own 32.81% of the company’s stock.

Thoughtworks Price Performance

Shares of TWKS opened at $4.40 on Wednesday. The business’s 50 day moving average is $3.68 and its two-hundred day moving average is $3.05. Thoughtworks Holding, Inc. has a 52-week low of $2.19 and a 52-week high of $5.20. The company has a quick ratio of 2.59, a current ratio of 2.59 and a debt-to-equity ratio of 0.39.

Thoughtworks (NASDAQ:TWKS) last announced its earnings results on Monday, August 5th. The company reported ($0.03) earnings per share (EPS) for the quarter. Thoughtworks had a negative net margin of 11.20% and a negative return on equity of 5.81%. The business had revenue of $251.70 million during the quarter, compared to analyst estimates of $251.37 million. During the same period in the previous year, the company earned ($0.01) earnings per share. The business’s revenue for the quarter was down 12.4% on a year-over-year basis. As a group, equities research analysts predict that Thoughtworks Holding, Inc. will post -0.02 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on TWKS shares. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Thoughtworks in a report on Tuesday, August 6th. Citigroup decreased their target price on Thoughtworks from $3.25 to $2.75 and set a “neutral” rating for the company in a report on Friday, July 12th. Piper Sandler boosted their target price on Thoughtworks from $3.40 to $4.40 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. The Goldman Sachs Group started coverage on Thoughtworks in a report on Monday, June 24th. They set a “sell” rating and a $2.50 target price for the company. Finally, Baird R W cut Thoughtworks from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $4.18.

Thoughtworks Company Profile

Thoughtworks Holding, Inc provides technology consultancy services in North America, the Asia Pacific, Europe, and Latin America. The company's consultancy services integrate strategy, design, and software engineering to enable enterprises and technology disruptors to thrive as modern digital businesses.