Thoughtworks (NASDAQ:TWKS) Given New $11.00 Price Target at Citigroup

Thoughtworks (NASDAQ:TWKSGet Rating) had its price objective lowered by Citigroup from $19.00 to $11.00 in a research report released on Monday, The Fly reports. Citigroup currently has a buy rating on the stock.

Several other research firms have also weighed in on TWKS. Cowen cut their target price on shares of Thoughtworks from $16.00 to $12.00 in a report on Tuesday, November 15th. 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, November 15th. JPMorgan Chase & Co. cut their price target on shares of Thoughtworks from $20.00 to $16.00 and set an overweight rating for the company in a report on Friday, October 14th. Robert W. Baird dropped their target price on shares of Thoughtworks from $18.00 to $14.00 in a report on Tuesday, October 11th. Finally, Cowen dropped their target price on shares of Thoughtworks from $16.00 to $12.00 in a report on Tuesday, November 15th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $14.83.

Thoughtworks Price Performance

Thoughtworks stock opened at $8.34 on Monday. The firm has a 50-day moving average price of $9.97 and a 200-day moving average price of $13.31. The firm has a market capitalization of $2.59 billion, a PE ratio of -16.04 and a beta of 0.98. The company has a current ratio of 2.64, a quick ratio of 2.64 and a debt-to-equity ratio of 0.54. Thoughtworks has a 12-month low of $7.61 and a 12-month high of $33.33.

Thoughtworks (NASDAQ:TWKSGet Rating) last posted its quarterly earnings results on Monday, November 14th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.03). The company had revenue of $332.40 million during the quarter, compared to analysts’ expectations of $327.52 million. Thoughtworks had a negative return on equity of 15.64% and a negative net margin of 12.29%. The company’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the business earned ($0.09) EPS. As a group, equities research analysts forecast that Thoughtworks will post -0.17 EPS for the current year.

Insider Activity

In other news, CEO Christopher Gerard Murphy sold 14,479 shares of the business’s stock in a transaction dated Tuesday, September 20th. The shares were sold at an average price of $11.82, for a total transaction of $171,141.78. Following the transaction, the chief executive officer now owns 383,519 shares of the company’s stock, valued at approximately $4,533,194.58. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Thoughtworks news, insider Angela Ferguson sold 10,000 shares of the stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $9.63, for a total value of $96,300.00. Following the transaction, the insider now directly owns 142,755 shares in the company, valued at $1,374,730.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher Gerard Murphy sold 14,479 shares of the stock in a transaction that occurred on Tuesday, September 20th. The shares were sold at an average price of $11.82, for a total transaction of $171,141.78. Following the completion of the transaction, the chief executive officer now owns 383,519 shares in the company, valued at $4,533,194.58. The disclosure for this sale can be found here. In the last quarter, insiders have sold 60,597 shares of company stock valued at $674,757. 3.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Thoughtworks

Several large investors have recently modified their holdings of the company. M&T Bank Corp lifted its holdings in Thoughtworks by 12.8% in the third quarter. M&T Bank Corp now owns 17,865 shares of the company’s stock valued at $188,000 after acquiring an additional 2,021 shares during the period. State Street Corp lifted its holdings in Thoughtworks by 22.1% in the third quarter. State Street Corp now owns 1,063,669 shares of the company’s stock valued at $11,158,000 after acquiring an additional 192,288 shares during the period. Vanguard Group Inc. lifted its holdings in Thoughtworks by 7.2% in the third quarter. Vanguard Group Inc. now owns 6,612,949 shares of the company’s stock valued at $69,371,000 after acquiring an additional 441,884 shares during the period. Marshall Wace LLP acquired a new stake in Thoughtworks in the third quarter valued at $995,000. Finally, Ensign Peak Advisors Inc lifted its holdings in Thoughtworks by 0.3% in the third quarter. Ensign Peak Advisors Inc now owns 2,186,264 shares of the company’s stock valued at $22,933,000 after acquiring an additional 6,936 shares during the period. 18.71% of the stock is owned by institutional investors and hedge funds.

Thoughtworks Company Profile

(Get Rating)

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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