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

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

A number of other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Thoughtworks by 5.4% during the third quarter. Vanguard Group Inc. now owns 11,059,928 shares of the company’s stock worth $45,125,000 after purchasing an additional 564,141 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Thoughtworks by 15.6% in the 3rd quarter. Deutsche Bank AG now owns 45,938 shares of the company’s stock worth $187,000 after buying an additional 6,196 shares in the last quarter. Graham Capital Management L.P. acquired a new stake in shares of Thoughtworks in the third quarter valued at $287,000. Comerica Bank boosted its stake in Thoughtworks by 17.7% during the third quarter. Comerica Bank now owns 26,468 shares of the company’s stock valued at $108,000 after buying an additional 3,986 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Thoughtworks by 12.4% during the third quarter. The Manufacturers Life Insurance Company now owns 52,008 shares of the company’s stock worth $212,000 after acquiring an additional 5,751 shares during the period. 32.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Piper Sandler reduced their price objective on shares of Thoughtworks from $5.00 to $3.40 and set a “neutral” rating for the company in a research report on Tuesday, February 27th. Robert W. Baird upgraded shares of Thoughtworks from a “neutral” rating to an “outperform” rating and set a $6.00 target price for the company in a report on Tuesday, January 2nd. William Blair reaffirmed a “market perform” rating on shares of Thoughtworks in a report on Wednesday, February 28th. Citigroup raised their price objective on Thoughtworks from $4.50 to $5.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 17th. Finally, Royal Bank of Canada cut their target price on Thoughtworks from $6.00 to $5.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 28th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Thoughtworks presently has an average rating of “Hold” and an average target price of $5.08.

Thoughtworks Stock Up 1.3 %

TWKS stock opened at $2.32 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.69 and a quick ratio of 2.69. The firm has a market capitalization of $748.97 million, a P/E ratio of -10.55 and a beta of 0.99. Thoughtworks Holding, Inc. has a 52-week low of $2.19 and a 52-week high of $8.41. The company’s 50 day simple moving average is $2.96 and its 200-day simple moving average is $3.82.

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

Thoughtworks Company 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.