LGT Capital Partners LTD. Acquires Shares of 880,000 Thoughtworks Holding, Inc. (NASDAQ:TWKS)

LGT Capital Partners LTD. bought a new position in Thoughtworks Holding, Inc. (NASDAQ:TWKS) during the 4th quarter, HoldingsChannel reports. The fund bought 880,000 shares of the company’s stock, valued at approximately $4,233,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC raised its stake in shares of Thoughtworks by 662.9% in the second quarter. Quadrant Capital Group LLC now owns 3,517 shares of the company’s stock worth $27,000 after acquiring an additional 3,056 shares during the last quarter. MetLife Investment Management LLC acquired a new stake in shares of Thoughtworks during the first quarter worth $31,000. Great West Life Assurance Co. Can bought a new stake in Thoughtworks in the second quarter valued at about $32,000. State of Wyoming boosted its holdings in Thoughtworks by 80.4% during the second quarter. State of Wyoming now owns 4,614 shares of the company’s stock worth $35,000 after buying an additional 2,057 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY bought a new stake in shares of Thoughtworks in the 2nd quarter valued at about $39,000. 32.81% of the stock is currently owned by institutional investors and hedge funds.

Thoughtworks Price Performance

Shares of NASDAQ TWKS opened at $2.53 on Friday. Thoughtworks Holding, Inc. has a 1-year low of $2.26 and a 1-year high of $8.41. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 0.37. The firm has a market cap of $816.51 million, a P/E ratio of -11.50 and a beta of 1.03. The business’s 50 day moving average is $3.68 and its 200-day moving average is $4.02.

Thoughtworks (NASDAQ:TWKS) last released its quarterly earnings results on Tuesday, February 27th. The company reported ($0.04) earnings per share for the quarter. The business had revenue of $252.39 million during the quarter, compared to analyst estimates of $268.34 million. Thoughtworks had a negative net margin of 6.09% and a negative return on equity of 2.46%. Equities research analysts predict that Thoughtworks Holding, Inc. will post -0.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TWKS has been the topic of several analyst reports. Robert W. Baird upgraded shares of Thoughtworks from a “neutral” rating to an “outperform” rating and set a $6.00 target price on the stock in a report on Tuesday, January 2nd. William Blair reiterated a “market perform” rating on shares of Thoughtworks in a report on Wednesday, February 28th. Citigroup boosted their price target on Thoughtworks from $4.50 to $5.00 and gave the company a “neutral” rating in a report on Wednesday, January 17th. Piper Sandler decreased their price target on shares of Thoughtworks from $5.00 to $3.40 and set a “neutral” rating for the company in a research note on Tuesday, February 27th. Finally, Royal Bank of Canada lowered their target price on Thoughtworks from $6.00 to $5.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 28th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Thoughtworks has a consensus rating of “Hold” and an average price target of $5.08.

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.