Thoughtworks Holding, Inc. (NASDAQ:TWKS – Get Free Report)’s share price fell 6.7% on Wednesday after Piper Sandler lowered their price target on the stock from $5.00 to $3.40. Piper Sandler currently has a neutral rating on the stock. Thoughtworks traded as low as $3.03 and last traded at $3.06. 262,086 shares were traded during trading, a decline of 61% from the average session volume of 668,837 shares. The stock had previously closed at $3.28.
TWKS has been the subject of a number of other reports. Robert W. Baird upgraded shares of Thoughtworks from a “neutral” rating to an “outperform” rating and set a $6.00 price target for the company in a report on Tuesday, January 2nd. Citigroup raised their price objective on shares of Thoughtworks from $4.50 to $5.00 and gave the company a “neutral” rating in a research note on Wednesday, January 17th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $6.63.
Insider Activity at Thoughtworks
In related news, insider Joanna Parke sold 16,005 shares of the firm’s stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $5.00, for a total transaction of $80,025.00. Following the transaction, the insider now directly owns 425,522 shares of the company’s stock, valued at $2,127,610. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.90% of the stock is owned by insiders.
Institutional Trading of Thoughtworks
Large investors have recently added to or reduced their stakes in the stock. Rathbones Group PLC purchased a new stake in Thoughtworks during the third quarter worth about $1,078,000. Principal Financial Group Inc. purchased a new stake in Thoughtworks during the second quarter worth about $83,000. Arizona State Retirement System purchased a new stake in Thoughtworks during the second quarter worth about $202,000. Signaturefd LLC increased its stake in shares of Thoughtworks by 233.3% in the second quarter. Signaturefd LLC now owns 5,792 shares of the company’s stock worth $44,000 after purchasing an additional 4,054 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Thoughtworks in the third quarter worth about $90,000. Hedge funds and other institutional investors own 27.00% of the company’s stock.
Thoughtworks Price Performance
The stock has a market cap of $987.13 million, a PE ratio of -32.60, a P/E/G ratio of 5.12 and a beta of 1.21. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.80 and a quick ratio of 2.80. The firm’s 50 day moving average price is $4.60 and its two-hundred day moving average price is $4.37.
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.