Catalina Capital Group LLC Increases Stock Position in Thoughtworks Holding, Inc. (NASDAQ:TWKS)

Catalina Capital Group LLC raised its stake in Thoughtworks Holding, Inc. (NASDAQ:TWKS) by 67.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,439 shares of the company’s stock after buying an additional 7,026 shares during the period. Catalina Capital Group LLC’s holdings in Thoughtworks were worth $50,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Mackenzie Financial Corp bought a new position in Thoughtworks in the fourth quarter valued at $245,000. Counterpoint Mutual Funds LLC bought a new position in shares of Thoughtworks during the 4th quarter valued at about $117,000. Summit Creek Advisors LLC raised its holdings in shares of Thoughtworks by 22.6% during the 4th quarter. Summit Creek Advisors LLC now owns 1,326,644 shares of the company’s stock valued at $6,381,000 after buying an additional 244,693 shares in the last quarter. Aristides Capital LLC bought a new stake in Thoughtworks in the 4th quarter worth approximately $260,000. Finally, Mubadala Investment Co PJSC purchased a new stake in Thoughtworks in the fourth quarter worth approximately $37,411,000. Hedge funds and other institutional investors own 32.81% of the company’s stock.

Thoughtworks Trading Up 0.7 %

TWKS traded up $0.03 during midday trading on Friday, reaching $4.36. 575,531 shares of the company’s stock traded hands, compared to its average volume of 1,302,777. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of -15.03 and a beta of 1.10. Thoughtworks Holding, Inc. has a 52 week low of $2.19 and a 52 week high of $5.20. The firm has a fifty day moving average of $3.33 and a two-hundred day moving average of $3.07. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.59 and a quick ratio of 2.59.

Thoughtworks (NASDAQ:TWKS) last announced its quarterly earnings results on Monday, August 5th. The company reported ($0.03) EPS for the quarter. The business had revenue of $251.70 million during the quarter, compared to analysts’ expectations of $251.37 million. Thoughtworks had a negative return on equity of 5.81% and a negative net margin of 11.20%. The business’s revenue was down 12.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.01) EPS. On average, equities analysts anticipate that Thoughtworks Holding, Inc. will post -0.02 earnings per share for the current fiscal year.

Analyst Ratings Changes

TWKS has been the subject of a number of recent research reports. Wedbush restated an “outperform” rating and issued a $6.00 price objective on shares of Thoughtworks in a report on Wednesday, May 8th. Baird R W cut Thoughtworks from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Piper Sandler lifted their price objective on Thoughtworks from $3.40 to $4.40 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. The Goldman Sachs Group began coverage on Thoughtworks in a report on Monday, June 24th. They set a “sell” rating and a $2.50 target price for the company. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Thoughtworks in a research note on Tuesday, August 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $4.18.

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.