Blair William & Co. IL Sells 2,100 Shares of Thoughtworks Holding, Inc. (NASDAQ:TWKS)

Blair William & Co. IL decreased its position in Thoughtworks Holding, Inc. (NASDAQ:TWKS) by 1.5% during the first quarter, Holdings Channel reports. The fund owned 137,070 shares of the company’s stock after selling 2,100 shares during the period. Blair William & Co. IL’s holdings in Thoughtworks were worth $1,009,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of TWKS. Siemens AG bought a new position in Thoughtworks in the fourth quarter valued at about $246,109,000. BlackRock Inc. raised its stake in shares of Thoughtworks by 59.9% in the first quarter. BlackRock Inc. now owns 4,722,581 shares of the company’s stock worth $98,277,000 after buying an additional 1,769,406 shares during the period. GW&K Investment Management LLC raised its stake in shares of Thoughtworks by 31.1% in the first quarter. GW&K Investment Management LLC now owns 4,195,738 shares of the company’s stock worth $30,880,000 after buying an additional 995,736 shares during the period. Norges Bank bought a new position in shares of Thoughtworks in the fourth quarter worth about $6,200,000. Finally, Vanguard Group Inc. raised its stake in shares of Thoughtworks by 7.2% in the third quarter. Vanguard Group Inc. now owns 6,612,949 shares of the company’s stock worth $69,371,000 after buying an additional 441,884 shares during the period. Institutional investors own 27.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on TWKS shares. TD Cowen downgraded Thoughtworks from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $9.00 to $6.00 in a research note on Thursday, August 10th. Citigroup decreased their price objective on Thoughtworks from $7.00 to $5.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 9th. Piper Sandler decreased their price objective on Thoughtworks from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 8th. Finally, Royal Bank of Canada downgraded Thoughtworks from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $10.00 to $6.00 in a research note on Tuesday, August 8th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Thoughtworks currently has a consensus rating of “Hold” and a consensus target price of $8.44.

Thoughtworks Stock Performance

NASDAQ:TWKS opened at $4.82 on Friday. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.36. Thoughtworks Holding, Inc. has a 12-month low of $4.52 and a 12-month high of $14.18. The stock has a 50-day moving average price of $6.19 and a 200 day moving average price of $7.05. The stock has a market capitalization of $1.53 billion, a P/E ratio of -40.16 and a beta of 0.87.

Thoughtworks (NASDAQ:TWKS) last released its quarterly earnings results on Tuesday, August 8th. The company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). The business had revenue of $287.22 million during the quarter, compared to analysts’ expectations of $301.92 million. Thoughtworks had a negative return on equity of 1.42% and a negative net margin of 2.88%. Equities research analysts forecast that Thoughtworks Holding, Inc. will post -0.02 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.