SG Americas Securities LLC Raises Stock Position in Thoughtworks Holding, Inc. (NASDAQ:TWKS)

SG Americas Securities LLC boosted its position in Thoughtworks Holding, Inc. (NASDAQ:TWKS) by 70.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,498 shares of the company’s stock after purchasing an additional 9,698 shares during the period. SG Americas Securities LLC’s holdings in Thoughtworks were worth $113,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. MetLife Investment Management LLC acquired a new position in shares of Thoughtworks during the 1st quarter worth $31,000. Advisors Asset Management Inc. acquired a new position in Thoughtworks during the first quarter worth about $44,000. Great West Life Assurance Co. Can purchased a new stake in shares of Thoughtworks in the second quarter valued at about $32,000. State of Wyoming grew its position in shares of Thoughtworks by 80.4% in the second quarter. State of Wyoming now owns 4,614 shares of the company’s stock valued at $35,000 after purchasing an additional 2,057 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of Thoughtworks by 12,615.5% in the first quarter. PNC Financial Services Group Inc. now owns 7,375 shares of the company’s stock valued at $153,000 after purchasing an additional 7,317 shares during the last quarter. 32.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TWKS. Piper Sandler reduced their target price on Thoughtworks from $5.00 to $3.40 and set a “neutral” rating on the stock in a research note on Tuesday, February 27th. Robert W. Baird upgraded Thoughtworks from a “neutral” rating to an “outperform” rating and set a $6.00 price objective for the company in a research report on Tuesday, January 2nd. Citigroup boosted their target price 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. Royal Bank of Canada decreased their price target on shares of Thoughtworks from $6.00 to $5.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 28th. Finally, William Blair reissued a “market perform” rating on shares of Thoughtworks in a research report on Wednesday, February 28th. Six equities 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, Thoughtworks presently has an average rating of “Hold” and a consensus target price of $5.08.

Thoughtworks Stock Up 1.3 %

Shares of NASDAQ:TWKS opened at $2.32 on Friday. Thoughtworks Holding, Inc. has a 12-month low of $2.19 and a 12-month high of $8.41. The stock’s 50-day moving average price is $2.96 and its two-hundred day moving average price is $3.82. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 0.37. The firm has a market cap of $748.97 million, a price-to-earnings ratio of -10.55 and a beta of 0.99.

Thoughtworks (NASDAQ:TWKS) last released its earnings results on Tuesday, February 27th. The company reported ($0.04) earnings per share (EPS) for the quarter. Thoughtworks had a negative return on equity of 2.46% and a negative net margin of 6.09%. The company had revenue of $252.39 million during the quarter, compared to analyst estimates of $268.34 million. On average, research analysts forecast that Thoughtworks Holding, Inc. will post -0.04 EPS for the current 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.