Victory Capital Management Inc. Sells 77,289 Shares of Thoughtworks Holding, Inc. (NASDAQ:TWKS)

Victory Capital Management Inc. decreased its holdings in shares of Thoughtworks Holding, Inc. (NASDAQ:TWKS) by 39.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 117,240 shares of the company’s stock after selling 77,289 shares during the period. Victory Capital Management Inc.’s holdings in Thoughtworks were worth $518,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wolverine Asset Management LLC bought a new stake in shares of Thoughtworks in the 3rd quarter valued at $142,000. Covestor Ltd boosted its stake in shares of Thoughtworks by 495.8% during the 3rd quarter. Covestor Ltd now owns 24,725 shares of the company’s stock worth $109,000 after buying an additional 20,575 shares during the last quarter. Creative Planning boosted its stake in shares of Thoughtworks by 6.4% during the 3rd quarter. Creative Planning now owns 43,974 shares of the company’s stock worth $194,000 after buying an additional 2,642 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Thoughtworks by 13,157.3% during the 3rd quarter. SG Americas Securities LLC now owns 3,319,896 shares of the company’s stock worth $14,674,000 after buying an additional 3,294,854 shares during the last quarter. Finally, Algert Global LLC acquired a new position in shares of Thoughtworks during the 2nd quarter worth about $33,000. Institutional investors own 32.81% of the company’s stock.

Thoughtworks Stock Performance

NASDAQ TWKS opened at $4.47 on Friday. The company has a current ratio of 2.59, a quick ratio of 2.59 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of -14.90 and a beta of 1.13. The firm’s 50 day simple moving average is $4.44 and its 200 day simple moving average is $3.79. Thoughtworks Holding, Inc. has a 1 year low of $2.19 and a 1 year high of $5.20.

Analyst Upgrades and Downgrades

TWKS has been the topic of a number of research analyst reports. Robert W. Baird reaffirmed a “neutral” rating and issued a $4.40 target price on shares of Thoughtworks in a report on Tuesday, August 6th. Piper Sandler increased their price target on shares of Thoughtworks from $3.40 to $4.40 and gave the company a “neutral” rating in a report on Tuesday, August 6th. Baird R W cut shares of Thoughtworks from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating on shares of Thoughtworks in a report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $4.18.

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.