Massachusetts Financial Services Co. MA Purchases 59,037 Shares of Thoughtworks Holding, Inc. (NASDAQ:TWKS)

Massachusetts Financial Services Co. MA lifted its position in shares of Thoughtworks Holding, Inc. (NASDAQ:TWKS) by 0.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,017,364 shares of the company’s stock after buying an additional 59,037 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 3.10% of Thoughtworks worth $28,449,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in TWKS. Aristides Capital LLC bought a new position in shares of Thoughtworks during the 4th quarter worth $260,000. Mubadala Investment Co PJSC bought a new position in shares of Thoughtworks during the 4th quarter worth $37,411,000. Catalina Capital Group LLC bought a new position in shares of Thoughtworks during the 1st quarter worth $26,000. Duality Advisers LP bought a new stake in Thoughtworks during the first quarter valued at about $36,000. Finally, Inspire Investing LLC bought a new stake in Thoughtworks during the first quarter valued at about $360,000. Institutional investors own 32.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Thoughtworks in a research report on Tuesday, August 6th. The Goldman Sachs Group assumed coverage on Thoughtworks in a research report on Monday, June 24th. They set a “sell” rating and a $2.50 price objective on the stock. Citigroup dropped their price objective on Thoughtworks from $3.25 to $2.75 and set a “neutral” rating on the stock in a research report on Friday, July 12th. Robert W. Baird reaffirmed a “neutral” rating and set a $4.40 price objective on shares of Thoughtworks 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 report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $4.18.

Thoughtworks Price Performance

Shares of NASDAQ TWKS opened at $4.40 on Friday. Thoughtworks Holding, Inc. has a fifty-two week low of $2.19 and a fifty-two week high of $5.20. The company has a market cap of $1.42 billion, a PE ratio of -15.17 and a beta of 1.14. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.59 and a current ratio of 2.59. The business has a 50-day simple moving average of $4.01 and a two-hundred day simple moving average of $3.11.

Thoughtworks (NASDAQ:TWKS) last announced its quarterly earnings data on Monday, August 5th. The company reported ($0.03) earnings per share (EPS) for the quarter. Thoughtworks had a negative return on equity of 5.81% and a negative net margin of 11.20%. The firm had revenue of $251.70 million during the quarter, compared to analysts’ expectations of $251.37 million. During the same quarter in the previous year, the business earned ($0.01) earnings per share. The company’s revenue for the quarter was down 12.4% compared to the same quarter last year. As a group, equities analysts expect that Thoughtworks Holding, Inc. will post -0.02 EPS for the current fiscal year.

Thoughtworks Company 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.