Thoughtworks (NASDAQ:TWKS) Sees Strong Trading Volume

Thoughtworks Holding, Inc. (NASDAQ:TWKS) saw unusually-strong trading volume on Monday . Approximately 1,051,471 shares were traded during mid-day trading, a decline of 8% from the previous session’s volume of 1,137,369 shares.The stock last traded at $4.32 and had previously closed at $4.34.

Analyst Ratings Changes

A number of equities research analysts have issued reports on TWKS shares. Wedbush reiterated an “outperform” rating and issued a $6.00 target price on shares of Thoughtworks in a research report on Wednesday, May 8th. Baird R W downgraded shares of Thoughtworks from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. JPMorgan Chase & Co. restated a “neutral” rating on shares of Thoughtworks in a report on Tuesday, August 6th. Piper Sandler raised their price target on shares of Thoughtworks from $3.40 to $4.40 and gave the company a “neutral” rating in a report on Tuesday, August 6th. Finally, The Goldman Sachs Group initiated coverage on shares of Thoughtworks in a report on Monday, June 24th. They set a “sell” rating and a $2.50 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $4.18.

Thoughtworks Stock Up 0.2 %

The business’s 50 day moving average is $3.09 and its 200-day moving average is $3.07. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.59 and a current ratio of 2.59. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of -14.97 and a beta of 1.10.

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

Institutional Trading of Thoughtworks

Several hedge funds and other institutional investors have recently bought and sold shares of TWKS. Catalina Capital Group LLC acquired a new stake in Thoughtworks in the 1st quarter worth $26,000. Duality Advisers LP acquired a new stake in shares of Thoughtworks during the 1st quarter valued at about $36,000. Simplicity Wealth LLC acquired a new stake in shares of Thoughtworks during the 2nd quarter valued at about $44,000. SG Americas Securities LLC acquired a new stake in shares of Thoughtworks during the 2nd quarter valued at about $71,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Thoughtworks by 49.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,452 shares of the company’s stock valued at $84,000 after purchasing an additional 9,793 shares during the last quarter. 32.81% of the stock is currently 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.