Thoughtworks (NASDAQ:TWKS) Sees Strong Trading Volume

Shares of Thoughtworks Holding, Inc. (NASDAQ:TWKS) saw an uptick in trading volume on Monday . 809,238 shares traded hands during mid-day trading, a decline of 46% from the previous session’s volume of 1,490,530 shares.The stock last traded at $4.41 and had previously closed at $4.40.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Baird R W downgraded shares of Thoughtworks from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Thoughtworks in a research report on Tuesday, August 6th. Robert W. Baird reiterated a “neutral” rating and issued a $4.40 target price on shares of Thoughtworks in a report on Tuesday, August 6th. The Goldman Sachs Group began coverage on shares of Thoughtworks in a research report on Monday, June 24th. They set a “sell” rating and a $2.50 target price on the stock. Finally, Citigroup lowered their price objective on shares of Thoughtworks from $3.25 to $2.75 and set a “neutral” rating for the company in a research note on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $4.18.

Thoughtworks Stock Performance

The company has a quick ratio of 2.59, a current ratio of 2.59 and a debt-to-equity ratio of 0.39. The firm has a 50-day moving average of $4.01 and a two-hundred day moving average of $3.12. The company has a market capitalization of $1.42 billion, a PE ratio of -15.17 and a beta of 1.14.

Thoughtworks (NASDAQ:TWKS) last posted its quarterly earnings data on Monday, August 5th. The company reported ($0.03) 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 analysts’ expectations of $251.37 million. During the same quarter last year, the firm earned ($0.01) earnings per share. The firm’s quarterly revenue was down 12.4% compared to the same quarter last year. Research analysts anticipate that Thoughtworks Holding, Inc. will post -0.02 EPS for the current year.

Institutional Trading of Thoughtworks

A number of institutional investors have recently made changes to their positions in TWKS. Vanguard Group Inc. grew its position in shares of Thoughtworks by 1.0% in the first quarter. Vanguard Group Inc. now owns 11,446,418 shares of the company’s stock valued at $28,959,000 after purchasing an additional 112,782 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Thoughtworks by 0.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,017,364 shares of the company’s stock worth $28,449,000 after acquiring an additional 59,037 shares during the period. Mubadala Investment Co PJSC acquired a new position in shares of Thoughtworks during the 4th quarter valued at about $37,411,000. 272 Capital LP increased its position in Thoughtworks by 29.4% during the second quarter. 272 Capital LP now owns 1,423,569 shares of the company’s stock worth $4,043,000 after purchasing an additional 323,751 shares during the last quarter. Finally, Summit Creek Advisors LLC increased its holdings in shares of Thoughtworks by 0.7% during the 1st quarter. Summit Creek Advisors LLC now owns 1,335,630 shares of the company’s stock worth $3,379,000 after buying an additional 8,986 shares during the last quarter. 32.81% of the stock is owned by institutional investors and hedge funds.

About Thoughtworks

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.