Thoughtworks Holding, Inc. (NASDAQ:TWKS) Shares Sold by GW&K Investment Management LLC

GW&K Investment Management LLC reduced its position in Thoughtworks Holding, Inc. (NASDAQ:TWKS) by 78.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 888,062 shares of the company’s stock after selling 3,279,951 shares during the quarter. GW&K Investment Management LLC’s holdings in Thoughtworks were worth $4,272,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Thoughtworks by 31.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,659 shares of the company’s stock worth $80,000 after purchasing an additional 4,681 shares during the last quarter. Victory Capital Management Inc. bought a new position in Thoughtworks in the third quarter worth about $41,000. Jump Financial LLC acquired a new position in Thoughtworks during the 3rd quarter valued at approximately $45,000. Quantbot Technologies LP acquired a new position in shares of Thoughtworks during the third quarter valued at $90,000. Finally, Envestnet Portfolio Solutions Inc. bought a new position in Thoughtworks in the 3rd quarter worth about $49,000. Institutional investors own 32.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Piper Sandler lowered their price target on Thoughtworks from $5.00 to $3.40 and set a “neutral” rating on the stock in a report on Tuesday, February 27th. Robert W. Baird lifted their target price on Thoughtworks from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Wednesday, May 8th. William Blair restated a “market perform” rating on shares of Thoughtworks in a research report on Wednesday, February 28th. Royal Bank of Canada dropped their target price on shares of Thoughtworks from $6.00 to $5.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 28th. Finally, Citigroup lifted their target price on Thoughtworks from $2.50 to $3.25 and gave the stock a “neutral” rating in a report on Wednesday, May 8th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $4.94.

Thoughtworks Stock Performance

Shares of Thoughtworks stock opened at $2.97 on Thursday. The stock has a market cap of $959.04 million, a PE ratio of -10.24 and a beta of 0.97. Thoughtworks Holding, Inc. has a 12 month low of $2.19 and a 12 month high of $8.31. The company has a quick ratio of 2.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.38. The business has a fifty day simple moving average of $2.55 and a 200-day simple moving average of $3.64.

Thoughtworks (NASDAQ:TWKS) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($0.04) EPS for the quarter. The business had revenue of $252.39 million for the quarter, compared to analyst estimates of $268.34 million. Thoughtworks had a negative return on equity of 4.10% and a negative net margin of 8.56%. On average, sell-side analysts anticipate that Thoughtworks Holding, Inc. will post -0.04 EPS for the current fiscal year.

Thoughtworks 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.