Thoughtworks Holding, Inc. (NASDAQ:TWKS) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. grew its stake in Thoughtworks Holding, Inc. (NASDAQ:TWKS - Free Report) by 5.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,059,928 shares of the company's stock after purchasing an additional 564,141 shares during the period. Vanguard Group Inc. owned approximately 3.47% of Thoughtworks worth $45,125,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. MetLife Investment Management LLC bought a new stake in Thoughtworks in the first quarter worth about $31,000. Advisors Asset Management Inc. purchased a new stake in shares of Thoughtworks in the first quarter worth approximately $44,000. Great West Life Assurance Co. Can bought a new stake in shares of Thoughtworks during the 2nd quarter worth approximately $32,000. State of Wyoming boosted its holdings in Thoughtworks by 80.4% during the 2nd quarter. State of Wyoming now owns 4,614 shares of the company's stock valued at $35,000 after acquiring an additional 2,057 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in Thoughtworks by 12,615.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,375 shares of the company's stock valued at $153,000 after acquiring an additional 7,317 shares during the last quarter. Hedge funds and other institutional investors own 32.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TWKS. Citigroup lifted their price target on shares of Thoughtworks from $4.50 to $5.00 and gave the company a "neutral" rating in a research note on Wednesday, January 17th. William Blair reiterated a "market perform" rating on shares of Thoughtworks in a report on Wednesday, February 28th. Royal Bank of Canada dropped their price objective 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. Piper Sandler dropped their target price on Thoughtworks from $5.00 to $3.40 and set a "neutral" rating on the stock in a research 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 target for the company in a research report on Tuesday, January 2nd. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Thoughtworks currently has an average rating of "Hold" and a consensus price target of $5.08.

Thoughtworks Stock Down 3.2 %

NASDAQ:TWKS traded down $0.08 during midday trading on Wednesday, reaching $2.40. 512,510 shares of the stock traded hands, compared to its average volume of 824,910. The business has a 50-day moving average of $3.28 and a two-hundred day moving average of $3.91. 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 Holding, Inc. has a 12-month low of $2.26 and a 12-month high of $8.41. The stock has a market capitalization of $774.55 million, a PE ratio of -10.82 and a beta of 0.99.

Thoughtworks (NASDAQ:TWKS - Get Free Report) last issued its quarterly earnings results on Tuesday, February 27th. The company reported ($0.04) earnings per share for the quarter. Thoughtworks had a negative return on equity of 2.46% and a negative net margin of 6.09%. The business had revenue of $252.39 million during the quarter, compared to analyst estimates of $268.34 million. On average, equities analysts forecast that Thoughtworks Holding, Inc. will post -0.03 earnings per share 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.