LGT Capital Partners LTD. Invests $4.23 Million in Thoughtworks Holding, Inc. (NASDAQ:TWKS)

LGT Capital Partners LTD. bought a new stake in Thoughtworks Holding, Inc. (NASDAQ:TWKS) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 880,000 shares of the company’s stock, valued at approximately $4,233,000. LGT Capital Partners LTD. owned approximately 0.28% of Thoughtworks at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TWKS. MetLife Investment Management LLC bought a new stake in Thoughtworks during the first quarter worth $31,000. Charles Schwab Investment Management Inc. raised its stake in Thoughtworks by 0.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 525,299 shares of the company’s stock valued at $3,866,000 after acquiring an additional 1,864 shares during the period. M&T Bank Corp lifted its stake in shares of Thoughtworks by 12.8% during the 3rd quarter. M&T Bank Corp now owns 17,865 shares of the company’s stock valued at $188,000 after buying an additional 2,021 shares in the last quarter. State of Wyoming lifted its position in shares of 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 acquiring an additional 2,057 shares in the last quarter. Finally, Advisors Asset Management Inc. purchased a new stake in Thoughtworks during the 1st quarter worth about $44,000. Institutional investors own 32.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TWKS. Piper Sandler lowered their price target on Thoughtworks from $5.00 to $3.40 and set a “neutral” rating on the stock in a research report on Tuesday, February 27th. Royal Bank of Canada reduced their price target on shares of Thoughtworks from $6.00 to $5.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 28th. Citigroup lifted their price target on shares of Thoughtworks from $4.50 to $5.00 and gave the company a “neutral” rating in a research report on Wednesday, January 17th. William Blair reissued a “market perform” rating on shares of Thoughtworks in a research note on Wednesday, February 28th. Finally, Robert W. Baird upgraded Thoughtworks from a “neutral” rating to an “outperform” rating and set a $6.00 target price on the stock in a research note on Tuesday, January 2nd. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $5.08.

Thoughtworks Price Performance

TWKS opened at $2.53 on Friday. Thoughtworks Holding, Inc. has a fifty-two week low of $2.26 and a fifty-two week high of $8.41. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.69 and a current ratio of 2.69. The stock has a market cap of $816.51 million, a price-to-earnings ratio of -11.50 and a beta of 1.03. The firm’s fifty day moving average is $3.68 and its 200 day moving average is $4.02.

Thoughtworks (NASDAQ:TWKS) last released its earnings results on Tuesday, February 27th. The company reported ($0.04) earnings per share (EPS) for the quarter. The business had revenue of $252.39 million for the quarter, compared to analysts’ expectations of $268.34 million. Thoughtworks had a negative return on equity of 2.46% and a negative net margin of 6.09%. On average, sell-side analysts forecast that Thoughtworks Holding, Inc. will post -0.03 earnings per share for the current fiscal year.

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.