11,532 Shares in Thoughtworks Holding, Inc. (NASDAQ:TWKS) Purchased by Ieq Capital LLC

Posted by Defense World Staff on May 2nd, 2023

Ieq Capital LLC acquired a new position in Thoughtworks Holding, Inc. (NASDAQ:TWKS – Get Rating) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 11,532 shares of the company’s stock, valued at approximately $118,000.

Several other large investors also recently added to or reduced their stakes in TWKS. BlackRock Inc. boosted its position in shares of Thoughtworks by 59.9% during the 1st quarter. BlackRock Inc. now owns 4,722,581 shares of the company’s stock valued at $98,277,000 after acquiring an additional 1,769,406 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in Thoughtworks by 363.3% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,943,080 shares of the company’s stock worth $20,383,000 after buying an additional 1,523,655 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Thoughtworks by 8.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,479,055 shares of the company’s stock worth $120,415,000 after purchasing an additional 928,299 shares during the period. Vanguard Group Inc. increased its stake in Thoughtworks by 7.2% in the 3rd quarter. Vanguard Group Inc. now owns 6,612,949 shares of the company’s stock worth $69,371,000 after purchasing an additional 441,884 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in Thoughtworks by 21.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,388,786 shares of the company’s stock worth $24,342,000 after purchasing an additional 421,704 shares during the period. Hedge funds and other institutional investors own 19.74% of the company’s stock.

Insiders Place Their Bets

In other Thoughtworks news, CFO Erin Cummins bought 14,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 7th. The stock was purchased at an average price of $7.63 per share, for a total transaction of $110,635.00. Following the completion of the transaction, the chief financial officer now owns 332,009 shares of the company’s stock, valued at approximately $2,533,228.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Erin Cummins purchased 14,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 7th. The stock was bought at an average cost of $7.63 per share, with a total value of $110,635.00. Following the completion of the purchase, the chief financial officer now owns 332,009 shares in the company, valued at $2,533,228.67. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Guo Xiao purchased 35,000 shares of the company’s stock in a transaction that occurred on Thursday, March 2nd. The shares were purchased at an average cost of $7.64 per share, with a total value of $267,400.00. Following the completion of the purchase, the chief executive officer now owns 1,389,647 shares of the company’s stock, valued at approximately $10,616,903.08. The disclosure for this purchase can be found here. Company insiders own 3.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on TWKS. Credit Suisse Group decreased their price target on Thoughtworks from $13.00 to $10.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 1st. JPMorgan Chase & Co. boosted their target price on Thoughtworks from $12.00 to $13.00 and gave the company an “overweight” rating in a research note on Tuesday, February 14th. Cowen reduced their price target on Thoughtworks from $13.00 to $10.00 in a research note on Wednesday, March 1st. Citigroup reduced their price target on Thoughtworks from $8.00 to $7.00 in a research note on Monday. Finally, Piper Sandler reduced their price target on Thoughtworks from $9.50 to $7.50 and set a “neutral” rating on the stock in a research note on Wednesday, March 1st. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $9.94.

Thoughtworks Trading Down 0.2 %

Thoughtworks stock opened at $6.22 on Tuesday. The company has a current ratio of 3.10, a quick ratio of 3.10 and a debt-to-equity ratio of 0.50. The business’s fifty day simple moving average is $7.26 and its two-hundred day simple moving average is $8.87. Thoughtworks Holding, Inc. has a 12 month low of $5.93 and a 12 month high of $19.33. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of -17.77, a price-to-earnings-growth ratio of 2.86 and a beta of 0.90.

Thoughtworks (NASDAQ:TWKS – Get Rating) last posted its quarterly earnings data on Tuesday, February 28th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. The company had revenue of $310.74 million during the quarter, compared to analysts’ expectations of $307.04 million. Thoughtworks had a negative return on equity of 9.65% and a negative net margin of 8.11%. As a group, equities analysts predict that Thoughtworks Holding, Inc. will post 0.21 earnings per share for the current fiscal year.

About Thoughtworks

(Get Rating)

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.