Thoughtworks (NASDAQ:TWKS) Sees Strong Trading Volume - Here's Why

Shares of Thoughtworks Holding, Inc. (NASDAQ:TWKS - Get Free Report) saw unusually-high trading volume on Monday . Approximately 3,610,351 shares traded hands during trading, an increase of 126% from the previous session's volume of 1,599,106 shares.The stock last traded at $4.44 and had previously closed at $4.42.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Citigroup reduced their price objective on shares of Thoughtworks from $3.25 to $2.75 and set a "neutral" rating for the company in a research report on Friday, July 12th. JPMorgan Chase & Co. reissued a "neutral" rating on shares of Thoughtworks in a research report on Tuesday, August 6th. Robert W. Baird reiterated a "neutral" rating and issued a $4.40 price objective on shares of Thoughtworks in a research note on Tuesday, August 6th. Piper Sandler raised their target price on Thoughtworks from $3.40 to $4.40 and gave the stock a "neutral" rating in a research report on Tuesday, August 6th. Finally, Baird R W downgraded Thoughtworks from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Thoughtworks has an average rating of "Hold" and a consensus price target of $4.18.

Thoughtworks Stock Up 0.7 %

The company has a current ratio of 2.59, a quick ratio of 2.59 and a debt-to-equity ratio of 0.39. The firm has a market cap of $1.44 billion, a P/E ratio of -12.36 and a beta of 1.15. The stock's fifty day moving average is $4.38 and its two-hundred day moving average is $3.39.

Thoughtworks (NASDAQ:TWKS - Get Free Report) last released its quarterly earnings results 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 business had revenue of $251.70 million during the quarter, compared to analysts' expectations of $251.37 million. During the same period in the previous year, the business earned ($0.01) EPS. The business's revenue was down 12.4% on a year-over-year basis. As a group, research analysts anticipate that Thoughtworks Holding, Inc. will post -0.02 earnings per share for the current year.

Hedge Funds Weigh In On Thoughtworks

A number of hedge funds and other institutional investors have recently bought and sold shares of TWKS. Creative Planning lifted its holdings in shares of Thoughtworks by 6.4% during the 3rd quarter. Creative Planning now owns 43,974 shares of the company's stock worth $194,000 after acquiring an additional 2,642 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Thoughtworks by 20.5% during the second quarter. Arizona State Retirement System now owns 31,622 shares of the company's stock worth $90,000 after acquiring an additional 5,369 shares in the last quarter. Catalina Capital Group LLC lifted its holdings in shares of Thoughtworks by 67.5% in the 2nd quarter. Catalina Capital Group LLC now owns 17,439 shares of the company's stock worth $50,000 after acquiring an additional 7,026 shares during the last quarter. Summit Creek Advisors LLC boosted 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 in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Thoughtworks by 49.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,452 shares of the company's stock valued at $84,000 after purchasing an additional 9,793 shares during the last quarter. Hedge funds and other institutional investors own 32.81% of the company's stock.

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.