Summit Creek Advisors LLC Trims Stock Position in Thoughtworks Holding, Inc. (NASDAQ:TWKS)

Summit Creek Advisors LLC reduced its stake in shares of Thoughtworks Holding, Inc. (NASDAQ:TWKS) by 6.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,248,911 shares of the company’s stock after selling 86,719 shares during the quarter. Summit Creek Advisors LLC owned approximately 0.39% of Thoughtworks worth $3,547,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Catalina Capital Group LLC bought a new stake in shares of Thoughtworks during the 1st quarter valued at $26,000. Duality Advisers LP bought a new stake in shares of Thoughtworks during the 1st quarter valued at $36,000. Simplicity Wealth LLC bought a new position in Thoughtworks in the 2nd quarter worth about $44,000. Counterpoint Mutual Funds LLC bought a new position in Thoughtworks in the 4th quarter worth about $117,000. Finally, SG Americas Securities LLC bought a new position in Thoughtworks in the 2nd quarter worth about $71,000. Institutional investors own 32.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on TWKS shares. Piper Sandler upped their price target on shares of Thoughtworks from $3.40 to $4.40 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. The Goldman Sachs Group started coverage on shares of Thoughtworks in a research note on Monday, June 24th. They issued a “sell” rating and a $2.50 price target on the stock. Robert W. Baird reiterated a “neutral” rating and issued a $4.40 price target on shares of Thoughtworks in a research note on Tuesday, August 6th. Baird R W cut shares of Thoughtworks from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Citigroup dropped their price target on shares of Thoughtworks from $3.25 to $2.75 and set a “neutral” rating on the stock in a research note on Friday, July 12th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $4.18.

Thoughtworks Price Performance

TWKS opened at $4.39 on Friday. 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 stock has a market capitalization of $1.42 billion, a P/E ratio of -15.14 and a beta of 1.14. The company’s 50-day simple moving average is $3.58 and its two-hundred day simple moving average is $3.06. Thoughtworks Holding, Inc. has a 52-week low of $2.19 and a 52-week high of $5.20.

Thoughtworks (NASDAQ:TWKS) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.03) EPS 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 for the quarter, compared to analysts’ expectations of $251.37 million. During the same period in the previous year, the company earned ($0.01) EPS. Thoughtworks’s revenue for the quarter was down 12.4% compared to the same quarter last year. As a group, analysts predict that Thoughtworks Holding, Inc. will post -0.02 EPS for the current 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.