Massachusetts Financial Services Co. MA Increases Stake in Thoughtworks Holding, Inc. (NASDAQ:TWKS)

Massachusetts Financial Services Co. MA boosted its stake in shares of Thoughtworks Holding, Inc. (NASDAQ:TWKS) by 0.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,017,364 shares of the company’s stock after acquiring an additional 59,037 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Thoughtworks were worth $28,449,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TWKS. Aristides Capital LLC purchased a new position in Thoughtworks during the fourth quarter valued at approximately $260,000. Mubadala Investment Co PJSC purchased a new position in Thoughtworks during the fourth quarter valued at approximately $37,411,000. Catalina Capital Group LLC purchased a new position in Thoughtworks during the first quarter valued at approximately $26,000. Duality Advisers LP purchased a new position in Thoughtworks during the first quarter valued at approximately $36,000. Finally, Inspire Investing LLC purchased a new position in Thoughtworks during the first quarter valued at approximately $360,000. 32.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TWKS. Citigroup cut their price objective on Thoughtworks from $3.25 to $2.75 and set a “neutral” rating for the company in a research report on Friday, July 12th. Baird R W cut Thoughtworks from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Piper Sandler boosted their price objective on Thoughtworks from $3.40 to $4.40 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. Robert W. Baird restated a “neutral” rating and issued a $4.40 price objective on shares of Thoughtworks in a research report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. restated a “neutral” rating on shares of Thoughtworks in a research report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $4.18.

Thoughtworks Stock Performance

NASDAQ TWKS opened at $4.40 on Friday. The stock’s fifty day moving average is $4.01 and its two-hundred day moving average is $3.11. The firm has a market capitalization of $1.42 billion, a P/E ratio of -15.17 and a beta of 1.14. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.59 and a current ratio of 2.59. Thoughtworks Holding, Inc. has a fifty-two week low of $2.19 and a fifty-two week high of $5.20.

Thoughtworks (NASDAQ:TWKS) last released its quarterly earnings data on Monday, August 5th. The company reported ($0.03) earnings per share for the quarter. The company had revenue of $251.70 million for the quarter, compared to analyst estimates of $251.37 million. Thoughtworks had a negative return on equity of 5.81% and a negative net margin of 11.20%. The business’s quarterly revenue was down 12.4% on a year-over-year basis. During the same period last year, the firm posted ($0.01) EPS. On average, research analysts anticipate that Thoughtworks Holding, Inc. will post -0.02 earnings per share for the current year.

Thoughtworks 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.