Thoughtworks Holding, Inc. (NASDAQ:TWKS – Get Rating) was the recipient of a significant increase in short interest in December. As of December 15th, there was short interest totalling 1,380,000 shares, an increase of 47.8% from the November 30th total of 933,800 shares. Currently, 1.6% of the shares of the stock are sold short. Based on an average daily volume of 858,000 shares, the short-interest ratio is presently 1.6 days.
Insider Buying and Selling
In other news, insider Angela Ferguson sold 20,000 shares of Thoughtworks stock in a transaction on Friday, September 30th. The stock was sold at an average price of $10.84, for a total transaction of $216,800.00. Following the transaction, the insider now directly owns 142,755 shares in the company, valued at approximately $1,547,464.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Thoughtworks news, insider Angela Ferguson sold 20,000 shares of the company’s stock in a transaction dated Friday, September 30th. The shares were sold at an average price of $10.84, for a total value of $216,800.00. Following the completion of the sale, the insider now directly owns 142,755 shares of the company’s stock, valued at approximately $1,547,464.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher Gerard Murphy sold 4,124 shares of Thoughtworks stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $8.00, for a total transaction of $32,992.00. Following the completion of the transaction, the chief executive officer now directly owns 469,401 shares in the company, valued at approximately $3,755,208. The disclosure for this sale can be found here. Insiders have sold a total of 39,263 shares of company stock valued at $387,307 over the last quarter. Corporate insiders own 3.90% of the company’s stock.
Institutional Trading of Thoughtworks
A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in shares of Thoughtworks by 59.9% during the 1st quarter. BlackRock Inc. now owns 4,722,581 shares of the company’s stock valued at $98,277,000 after purchasing an additional 1,769,406 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Thoughtworks by 363.3% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,943,080 shares of the company’s stock worth $20,383,000 after acquiring an additional 1,523,655 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Thoughtworks by 13.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,550,756 shares of the company’s stock valued at $148,871,000 after acquiring an additional 1,274,651 shares during the last quarter. WCM Investment Management LLC raised its stake in shares of Thoughtworks by 87.4% in the 3rd quarter. WCM Investment Management LLC now owns 1,055,807 shares of the company’s stock valued at $11,297,000 after acquiring an additional 492,302 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Thoughtworks by 7.2% in the 3rd quarter. Vanguard Group Inc. now owns 6,612,949 shares of the company’s stock worth $69,371,000 after purchasing an additional 441,884 shares during the last quarter. 19.74% of the stock is currently owned by institutional investors and hedge funds.
Thoughtworks Trading Up 6.6 %
TWKS stock traded up $0.64 during midday trading on Thursday, reaching $10.30. The company had a trading volume of 3,439 shares, compared to its average volume of 772,082. The company has a 50 day moving average of $9.09 and a two-hundred day moving average of $11.97. The company has a quick ratio of 2.64, a current ratio of 2.64 and a debt-to-equity ratio of 0.54. Thoughtworks has a 1 year low of $7.61 and a 1 year high of $27.95.
Thoughtworks (NASDAQ:TWKS – Get Rating) last released its quarterly earnings data on Monday, November 14th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.06). Thoughtworks had a negative net margin of 12.29% and a negative return on equity of 15.64%. The firm had revenue of $332.40 million for the quarter, compared to analyst estimates of $327.52 million. During the same period in the previous year, the business posted ($0.09) EPS. Thoughtworks’s revenue for the quarter was up 16.6% on a year-over-year basis. As a group, equities analysts expect that Thoughtworks will post -0.21 EPS for the current fiscal year.
Wall Street Analyst Weigh In
TWKS has been the topic of a number of recent research reports. Credit Suisse Group decreased their target price on Thoughtworks from $16.00 to $13.00 and set a “neutral” rating on the stock in a report on Tuesday, November 15th. JPMorgan Chase & Co. reduced their price objective on shares of Thoughtworks from $20.00 to $16.00 and set an “overweight” rating for the company in a research note on Friday, October 14th. Citigroup dropped their target price on shares of Thoughtworks from $19.00 to $11.00 and set a “buy” rating on the stock in a research report on Monday, November 21st. Cowen reduced their price target on shares of Thoughtworks from $16.00 to $12.00 in a research report on Tuesday, November 15th. Finally, Piper Sandler cut shares of Thoughtworks from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $14.00 to $9.50 in a research report on Monday, November 14th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Thoughtworks has an average rating of “Moderate Buy” and a consensus target price of $14.83.
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.