SG Americas Securities LLC Increases Holdings in Thoughtworks Holding, Inc. (NASDAQ:TWKS)

SG Americas Securities LLC increased its position in shares of Thoughtworks Holding, Inc. (NASDAQ:TWKS - Free Report) by 13,157.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,319,896 shares of the company's stock after buying an additional 3,294,854 shares during the period. SG Americas Securities LLC owned 1.03% of Thoughtworks worth $14,674,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Catalina Capital Group LLC acquired a new stake in Thoughtworks in the first quarter worth $26,000. Algert Global LLC bought a new stake in Thoughtworks in the 2nd quarter valued at about $33,000. Duality Advisers LP acquired a new position in Thoughtworks during the 1st quarter worth approximately $36,000. Simplicity Wealth LLC bought a new position in Thoughtworks in the second quarter worth approximately $44,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Thoughtworks by 49.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,452 shares of the company's stock valued at $84,000 after acquiring an additional 9,793 shares during the period. Institutional investors and hedge funds own 32.81% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Baird R W cut Thoughtworks from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 6th. Robert W. Baird reiterated a "neutral" rating and issued a $4.40 target price on shares of Thoughtworks in a report on Tuesday, August 6th. Piper Sandler upped their price objective on shares of Thoughtworks from $3.40 to $4.40 and gave the stock a "neutral" rating in a research report on Tuesday, August 6th. Citigroup decreased their price objective on shares of Thoughtworks from $3.25 to $2.75 and set a "neutral" rating for the company in a research note on Friday, July 12th. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating on shares of Thoughtworks in a report on Tuesday, August 6th. One investment 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 a consensus rating of "Hold" and an average price target of $4.18.

Thoughtworks Stock Performance

Shares of Thoughtworks stock traded up $0.01 on Friday, reaching $4.42. 1,238,396 shares of the company traded hands, compared to its average volume of 3,311,463. The company has a 50 day moving average of $4.28 and a 200 day moving average of $3.24. 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 Holding, Inc. has a 52 week low of $2.19 and a 52 week high of $5.20. The firm has a market capitalization of $1.43 billion, a PE ratio of -15.24 and a beta of 1.15.

Thoughtworks (NASDAQ:TWKS - Get Free Report) last announced its quarterly earnings data on Monday, August 5th. The company reported ($0.03) earnings per share for the quarter. Thoughtworks had a negative net margin of 11.20% and a negative return on equity of 5.81%. The firm had revenue of $251.70 million for the quarter, compared to the consensus estimate of $251.37 million. During the same period last year, the company posted ($0.01) earnings per share. Thoughtworks's revenue for the quarter was down 12.4% on a year-over-year basis. Equities analysts forecast that Thoughtworks Holding, Inc. will post -0.02 earnings per share for the current 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.