Thoughtworks (NASDAQ:TWKS) Issues Earnings Results, Misses Estimates By $0.03 EPS

Thoughtworks (NASDAQ:TWKSGet Rating) announced its quarterly earnings data on Monday. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.03), Briefing.com reports. Thoughtworks had a negative net margin of 12.27% and a negative return on equity of 16.86%. The company had revenue of $332.40 million for the quarter, compared to analysts’ expectations of $327.52 million. During the same quarter in the previous year, the firm posted ($0.09) EPS. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year.

Thoughtworks Price Performance

NASDAQ TWKS opened at $9.51 on Wednesday. The company has a quick ratio of 3.39, a current ratio of 3.39 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $2.96 billion, a P/E ratio of -18.29, a PEG ratio of 51.63 and a beta of 0.98. The company has a 50-day moving average price of $10.36 and a 200-day moving average price of $13.59. Thoughtworks has a 52 week low of $7.61 and a 52 week high of $33.69.

Insider Buying and Selling

In other Thoughtworks news, insider Sai Krishna Mandapaty sold 16,118 shares of the company’s stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $11.82, for a total value of $190,514.76. Following the completion of the sale, the insider now owns 388,342 shares in the company, valued at $4,590,202.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Christopher Gerard Murphy sold 14,479 shares of the firm’s stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $11.82, for a total transaction of $171,141.78. Following the completion of the transaction, the chief executive officer now owns 383,519 shares in the company, valued at $4,533,194.58. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Sai Krishna Mandapaty sold 16,118 shares of the business’s stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $11.82, for a total value of $190,514.76. Following the completion of the sale, the insider now owns 388,342 shares in the company, valued at $4,590,202.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 62,597 shares of company stock valued at $702,637. 3.90% of the stock is owned by insiders.

Institutional Trading of Thoughtworks

Large investors have recently added to or reduced their stakes in the company. MetLife Investment Management LLC purchased a new position in shares of Thoughtworks in the first quarter valued at $31,000. Advisors Asset Management Inc. bought a new position in Thoughtworks during the first quarter valued at $44,000. UBS Group AG grew its stake in shares of Thoughtworks by 554.0% in the 3rd quarter. UBS Group AG now owns 9,974 shares of the company’s stock worth $104,000 after buying an additional 8,449 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Thoughtworks by 12,615.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,375 shares of the company’s stock worth $153,000 after buying an additional 7,317 shares in the last quarter. Finally, Principal Financial Group Inc. bought a new stake in shares of Thoughtworks in the 2nd quarter worth about $164,000. Institutional investors own 18.71% of the company’s stock.

Wall Street Analysts Forecast Growth

TWKS has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Thoughtworks from $20.00 to $16.00 and set an “overweight” rating on the stock in a research report on Friday, October 14th. Robert W. Baird reduced their price target on shares of Thoughtworks from $18.00 to $14.00 in a research report on Tuesday, October 11th. Piper Sandler cut Thoughtworks from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $14.00 to $9.50 in a research report on Monday. Credit Suisse Group reduced their target price on Thoughtworks from $16.00 to $13.00 and set a “neutral” rating for the company in a report on Tuesday. Finally, Cowen lowered their price target on Thoughtworks from $16.00 to $12.00 in a report on Tuesday. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.72.

About Thoughtworks

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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.

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Earnings History for Thoughtworks (NASDAQ:TWKS)

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