Jacobs Levy Equity Management Inc. Boosts Stock Position in Thoughtworks Holding, Inc. (NASDAQ:TWKS)

Jacobs Levy Equity Management Inc. increased its position in shares of Thoughtworks Holding, Inc. (NASDAQ:TWKS) by 1,094.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 485,330 shares of the company’s stock after purchasing an additional 444,712 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.15% of Thoughtworks worth $1,228,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Summit Creek Advisors LLC lifted its stake in shares of Thoughtworks by 0.7% in the 1st quarter. Summit Creek Advisors LLC now owns 1,335,630 shares of the company’s stock valued at $3,379,000 after purchasing an additional 8,986 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Thoughtworks by 70.3% in the 4th quarter. SG Americas Securities LLC now owns 23,498 shares of the company’s stock valued at $113,000 after buying an additional 9,698 shares during the period. Catalina Capital Group LLC purchased a new stake in shares of Thoughtworks in the 1st quarter valued at $26,000. State Board of Administration of Florida Retirement System raised its holdings in shares of Thoughtworks by 52.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 40,246 shares of the company’s stock valued at $102,000 after buying an additional 13,826 shares during the period. Finally, Duality Advisers LP purchased a new stake in Thoughtworks during the 1st quarter worth about $36,000. 32.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on TWKS shares. Robert W. Baird increased their price objective on Thoughtworks from $5.00 to $6.00 and gave the company an “outperform” rating in a report on Wednesday, May 8th. Citigroup dropped their price objective on Thoughtworks from $3.25 to $2.75 and set a “neutral” rating for the company in a research note on Friday, July 12th. Wedbush reiterated an “outperform” rating and issued a $6.00 target price on shares of Thoughtworks in a research note on Wednesday, May 8th. Finally, The Goldman Sachs Group initiated coverage on Thoughtworks in a research report on Monday, June 24th. They set a “sell” rating and a $2.50 price target for the company. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $4.52.

Thoughtworks Stock Performance

TWKS opened at $3.56 on Friday. The firm has a market cap of $1.15 billion, a PE ratio of -12.28 and a beta of 1.09. The company has a quick ratio of 2.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.38. The business has a fifty day simple moving average of $2.86 and a 200-day simple moving average of $3.12. Thoughtworks Holding, Inc. has a fifty-two week low of $2.19 and a fifty-two week high of $7.34.

Thoughtworks (NASDAQ:TWKS) last released its earnings results on Tuesday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). The business had revenue of $248.59 million during the quarter, compared to analysts’ expectations of $242.77 million. Thoughtworks had a negative net margin of 8.56% and a negative return on equity of 4.10%. As a group, equities analysts predict that Thoughtworks Holding, Inc. will post -0.02 EPS for the current fiscal year.

Thoughtworks 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.