Thoughtworks Holding, Inc. (NASDAQ:TWKS – Get Rating) shares gapped down before the market opened on Tuesday after Robert W. Baird lowered their price target on the stock from $18.00 to $14.00. The stock had previously closed at $9.47, but opened at $9.12. Thoughtworks shares last traded at $9.13, with a volume of 2,024 shares.
TWKS has been the topic of several other reports. Citigroup cut their target price on shares of Thoughtworks from $24.00 to $19.00 and set a “buy” rating on the stock in a research note on Tuesday, August 16th. Cowen lowered their price target on shares of Thoughtworks from $21.00 to $20.00 in a report on Tuesday, August 16th. Piper Sandler lowered their price target on shares of Thoughtworks from $19.00 to $17.50 and set an “overweight” rating for the company in a report on Tuesday, August 16th. Royal Bank of Canada lowered their price target on shares of Thoughtworks from $25.00 to $22.00 and set an “outperform” rating for the company in a report on Tuesday, August 16th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Thoughtworks from $22.00 to $20.00 in a report on Wednesday, July 20th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $23.71.
Insider Activity
In related news, insider Angela Ferguson sold 20,000 shares of the stock in a transaction on Friday, September 30th. The shares were sold at an average price of $10.84, for a total transaction of $216,800.00. Following the completion of the sale, the insider now owns 142,755 shares in the company, valued at approximately $1,547,464.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Angela Ferguson sold 20,000 shares of the stock in a transaction on Friday, September 30th. The shares were sold at an average price of $10.84, for a total transaction of $216,800.00. Following the completion of the sale, the insider now owns 142,755 shares in the company, valued at approximately $1,547,464.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Christopher Gerard Murphy sold 14,479 shares of the stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $11.82, for a total transaction of $171,141.78. Following the sale, the chief executive officer now owns 383,519 shares of the company’s stock, valued at approximately $4,533,194.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,597 shares of company stock worth $635,517. Corporate insiders own 3.90% of the company’s stock.
Institutional Trading of Thoughtworks
A number of large investors have recently bought and sold shares of the business. Assetmark Inc. raised its position in Thoughtworks by 548.4% during the 2nd quarter. Assetmark Inc. now owns 2,010 shares of the company’s stock worth $28,000 after buying an additional 1,700 shares during the last quarter. MetLife Investment Management LLC purchased a new position in Thoughtworks during the 1st quarter worth $31,000. Advisors Asset Management Inc. purchased a new position in Thoughtworks during the 1st quarter worth $44,000. Ronald Blue Trust Inc. purchased a new position in Thoughtworks during the 2nd quarter worth $53,000. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of Thoughtworks by 30.6% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 9,540 shares of the company’s stock valued at $135,000 after purchasing an additional 2,236 shares in the last quarter. Institutional investors and hedge funds own 18.71% of the company’s stock.
Thoughtworks Price Performance
The stock’s fifty day moving average price is $13.23 and its 200-day moving average price is $15.63. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.39 and a current ratio of 3.39. The firm has a market cap of $2.88 billion and a PE ratio of -18.21.
Thoughtworks (NASDAQ:TWKS – Get Rating) last released its quarterly earnings results on Monday, August 15th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). Thoughtworks had a negative net margin of 12.27% and a negative return on equity of 16.86%. The company had revenue of $332.10 million for the quarter, compared to analysts’ expectations of $328.09 million. The firm’s quarterly revenue was up 27.5% compared to the same quarter last year. As a group, equities analysts forecast that Thoughtworks Holding, Inc. will post 0.01 EPS for the current fiscal year.
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.