Thoughtworks (NASDAQ:TWKS) Announces Earnings Results

Thoughtworks (NASDAQ:TWKSGet Rating) released its quarterly earnings data on Monday. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.03), Briefing.com reports. The business had revenue of $332.40 million during the quarter, compared to analyst estimates of $327.52 million. Thoughtworks had a negative net margin of 12.27% and a negative return on equity of 16.86%. The firm’s revenue was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.09) EPS.

Thoughtworks Stock Performance

Shares of TWKS stock opened at $9.51 on Wednesday. The company has a quick ratio of 3.39, a current ratio of 3.39 and a debt-to-equity ratio of 0.66. Thoughtworks has a 52 week low of $7.61 and a 52 week high of $33.69. The stock has a market capitalization of $2.96 billion, a PE ratio of -18.29, a P/E/G ratio of 51.63 and a beta of 0.98. The firm has a 50 day moving average of $10.36 and a two-hundred day moving average of $13.59.

Wall Street Analyst Weigh In

A number of research firms have commented on TWKS. Robert W. Baird cut their price objective on shares of Thoughtworks from $18.00 to $14.00 in a report on Tuesday, October 11th. Credit Suisse Group cut their price target on shares of Thoughtworks from $16.00 to $13.00 and set a “neutral” rating for the company in a report on Tuesday. Piper Sandler downgraded shares of Thoughtworks from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $14.00 to $9.50 in a report on Monday. Citigroup cut their price target on shares of Thoughtworks from $24.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday, August 16th. Finally, Royal Bank of Canada cut their price target on shares of Thoughtworks from $16.00 to $14.00 and set an “outperform” rating for the company in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $15.72.

Insider Buying and Selling at Thoughtworks

In other Thoughtworks news, insider Angela Ferguson sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $13.94, for a total value of $27,880.00. Following the completion of the transaction, the insider now owns 144,893 shares of the company’s stock, valued at approximately $2,019,808.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Thoughtworks news, insider Angela Ferguson sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $13.94, for a total value of $27,880.00. Following the completion of the transaction, the insider now owns 144,893 shares of the company’s stock, valued at approximately $2,019,808.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher Gerard Murphy sold 14,479 shares of Thoughtworks stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $11.82, for a total transaction of $171,141.78. Following the sale, the chief executive officer now directly owns 383,519 shares of the company’s stock, valued at $4,533,194.58. The disclosure for this sale can be found here. Insiders sold 62,597 shares of company stock valued at $702,637 in the last 90 days. Company insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On Thoughtworks

Institutional investors have recently modified their holdings of the company. MetLife Investment Management LLC acquired a new stake in Thoughtworks during the 1st quarter worth $31,000. Advisors Asset Management Inc. acquired a new stake in Thoughtworks during the 1st quarter worth $44,000. UBS Group AG raised its stake in Thoughtworks by 554.0% during the 3rd quarter. UBS Group AG now owns 9,974 shares of the company’s stock worth $104,000 after acquiring an additional 8,449 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Thoughtworks by 12,615.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,375 shares of the company’s stock worth $153,000 after acquiring an additional 7,317 shares in the last quarter. Finally, Principal Financial Group Inc. acquired a new stake in Thoughtworks during the 2nd quarter worth $164,000. 18.71% of the stock is owned by hedge funds and other institutional investors.

Thoughtworks Company Profile

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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.

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Earnings History for Thoughtworks (NASDAQ:TWKS)

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