Massachusetts Financial Services Co. MA Trims Holdings in Thoughtworks Holding, Inc. (NASDAQ:TWKS)

Massachusetts Financial Services Co. MA reduced its stake in Thoughtworks Holding, Inc. (NASDAQ:TWKS) by 0.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,001,027 shares of the company’s stock after selling 87,281 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 3.14% of Thoughtworks worth $48,105,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Victory Capital Management Inc. purchased a new stake in shares of Thoughtworks in the third quarter valued at about $41,000. Jump Financial LLC purchased a new stake in shares of Thoughtworks during the 3rd quarter valued at approximately $45,000. Envestnet Portfolio Solutions Inc. acquired a new position in Thoughtworks in the third quarter valued at approximately $49,000. SG Americas Securities LLC purchased a new position in Thoughtworks in the third quarter worth approximately $56,000. Finally, MQS Management LLC acquired a new stake in Thoughtworks during the third quarter worth $64,000. 32.81% of the stock is owned by institutional investors and hedge funds.

Thoughtworks Stock Performance

TWKS stock opened at $3.21 on Friday. The business’s 50-day moving average is $2.50 and its two-hundred day moving average is $3.64. The company has a quick ratio of 2.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.38. Thoughtworks Holding, Inc. has a 1 year low of $2.19 and a 1 year high of $8.31.

Thoughtworks (NASDAQ:TWKS) last issued its earnings results on Tuesday, February 27th. The company reported ($0.04) EPS for the quarter. Thoughtworks had a negative return on equity of 4.10% and a negative net margin of 8.56%. The firm had revenue of $252.39 million for the quarter, compared to analyst estimates of $268.34 million. On average, equities research analysts anticipate that Thoughtworks Holding, Inc. will post -0.04 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on TWKS shares. Citigroup raised their price objective on Thoughtworks from $2.50 to $3.25 and gave the stock a “neutral” rating in a research report on Wednesday, May 8th. Wedbush restated an “outperform” rating and issued a $6.00 price objective on shares of Thoughtworks in a report on Wednesday, May 8th. William Blair reiterated a “market perform” rating on shares of Thoughtworks in a report on Wednesday, February 28th. Piper Sandler lowered their price target on Thoughtworks from $5.00 to $3.40 and set a “neutral” rating for the company in a research report on Tuesday, February 27th. Finally, Robert W. Baird increased their target price on Thoughtworks from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 8th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $4.94.

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.