Covestor Ltd Increases Stock Position in Thoughtworks Holding, Inc. (NASDAQ:TWKS)

Covestor Ltd boosted its holdings in Thoughtworks Holding, Inc. (NASDAQ:TWKS) by 495.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,725 shares of the company’s stock after buying an additional 20,575 shares during the period. Covestor Ltd’s holdings in Thoughtworks were worth $109,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of TWKS. Algert Global LLC purchased a new position in shares of Thoughtworks in the second quarter valued at $33,000. Simplicity Wealth LLC purchased a new position in Thoughtworks during the 2nd quarter valued at about $44,000. Catalina Capital Group LLC increased its position in shares of Thoughtworks by 67.5% during the second quarter. Catalina Capital Group LLC now owns 17,439 shares of the company’s stock valued at $50,000 after buying an additional 7,026 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Thoughtworks in the second quarter worth about $71,000. Finally, Hsbc Holdings PLC boosted its position in shares of Thoughtworks by 69.9% in the second quarter. Hsbc Holdings PLC now owns 29,428 shares of the company’s stock valued at $84,000 after acquiring an additional 12,107 shares during the period. Institutional investors own 32.81% of the company’s stock.

Thoughtworks Price Performance

Shares of NASDAQ:TWKS opened at $4.47 on Wednesday. The company’s fifty day moving average is $4.42 and its 200 day moving average is $3.63. The company has a quick ratio of 2.59, a current ratio of 2.59 and a debt-to-equity ratio of 0.39. Thoughtworks Holding, Inc. has a 52 week low of $2.19 and a 52 week high of $5.20. The stock has a market cap of $1.44 billion, a PE ratio of -12.47 and a beta of 1.13.

Analyst Upgrades and Downgrades

TWKS has been the topic of several recent analyst reports. Baird R W cut shares of Thoughtworks from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. JPMorgan Chase & Co. restated a “neutral” rating on shares of Thoughtworks in a research report on Tuesday, August 6th. Robert W. Baird reissued a “neutral” rating and set a $4.40 price objective on shares of Thoughtworks in a report on Tuesday, August 6th. Finally, Piper Sandler raised their target price on shares of Thoughtworks from $3.40 to $4.40 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $4.18.

Thoughtworks 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.