51,005 Shares in Thoughtworks Holding, Inc. (NASDAQ:TWKS) Bought by Mackenzie Financial Corp

Mackenzie Financial Corp acquired a new stake in Thoughtworks Holding, Inc. (NASDAQ:TWKS) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 51,005 shares of the company’s stock, valued at approximately $245,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Victory Capital Management Inc. acquired a new position in Thoughtworks in the third quarter worth about $41,000. Jump Financial LLC acquired a new position in shares of Thoughtworks in the 3rd quarter worth approximately $45,000. Envestnet Portfolio Solutions Inc. bought a new position in shares of Thoughtworks during the 3rd quarter worth approximately $49,000. SG Americas Securities LLC acquired a new stake in Thoughtworks in the 3rd quarter valued at $56,000. Finally, MQS Management LLC bought a new stake in Thoughtworks in the third quarter valued at $64,000. 32.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on TWKS. Royal Bank of Canada reduced their target price 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. Citigroup dropped their price objective on shares of Thoughtworks from $2.75 to $2.50 and set a “neutral” rating for the company in a report on Monday, April 22nd. William Blair reissued a “market perform” rating on shares of Thoughtworks in a report on Wednesday, February 28th. Piper Sandler dropped their price target on Thoughtworks from $5.00 to $3.40 and set a “neutral” rating for the company in a report on Tuesday, February 27th. Finally, Robert W. Baird raised Thoughtworks from a “neutral” rating to an “outperform” rating and set a $6.00 price objective on the stock in a research note on Tuesday, January 2nd. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Thoughtworks has a consensus rating of “Hold” and an average price target of $4.58.

Thoughtworks Stock Up 2.6 %

NASDAQ:TWKS opened at $2.39 on Monday. The stock’s fifty day moving average price is $2.73 and its two-hundred day moving average price is $3.74. The company has a market cap of $771.56 million, a price-to-earnings ratio of -10.86 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 has a debt-to-equity ratio of 0.37, a quick ratio of 2.69 and a current ratio of 2.69.

Thoughtworks (NASDAQ:TWKS) last issued its quarterly 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%. On average, analysts anticipate 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.