Mackenzie Financial Corp Makes New Investment in Thoughtworks Holding, Inc. (NASDAQ:TWKS)

Mackenzie Financial Corp bought a new stake in shares of Thoughtworks Holding, Inc. (NASDAQ:TWKS) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 51,005 shares of the company’s stock, valued at approximately $245,000.

A number of other institutional investors and hedge funds also recently modified their holdings of TWKS. LGT Capital Partners LTD. bought a new stake in shares of Thoughtworks during the 4th quarter valued at about $4,233,000. Vanguard Group Inc. grew its holdings in shares of Thoughtworks by 5.4% during the third quarter. Vanguard Group Inc. now owns 11,059,928 shares of the company’s stock valued at $45,125,000 after purchasing an additional 564,141 shares during the last quarter. Rathbones Group PLC bought a new stake in shares of Thoughtworks in the 3rd quarter worth approximately $1,078,000. B. Riley Asset Management LLC boosted its position in Thoughtworks by 80.6% during the 3rd quarter. B. Riley Asset Management LLC now owns 561,885 shares of the company’s stock valued at $2,292,000 after purchasing an additional 250,785 shares during the period. Finally, Summit Creek Advisors LLC grew its stake in Thoughtworks by 18.7% during the 3rd quarter. Summit Creek Advisors LLC now owns 1,081,951 shares of the company’s stock worth $4,414,000 after buying an additional 170,703 shares during the last quarter. 32.81% of the stock is owned by institutional investors and hedge funds.

Thoughtworks Trading Up 2.6 %

Thoughtworks stock opened at $2.39 on Monday. Thoughtworks Holding, Inc. has a 12-month low of $2.19 and a 12-month high of $8.41. The stock has a market capitalization of $771.56 million, a PE ratio of -10.86 and a beta of 0.99. The firm has a 50 day simple moving average of $2.73 and a 200-day simple moving average of $3.74. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.69 and a quick ratio of 2.69.

Thoughtworks (NASDAQ:TWKS) last issued its quarterly earnings results on Tuesday, February 27th. The company reported ($0.04) earnings per share (EPS) for the quarter. Thoughtworks had a negative net margin of 6.09% and a negative return on equity of 2.46%. The firm had revenue of $252.39 million for the quarter, compared to analyst estimates of $268.34 million. As a group, equities research analysts expect that Thoughtworks Holding, Inc. will post -0.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TWKS. Royal Bank of Canada cut their target price on Thoughtworks from $6.00 to $5.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 28th. Citigroup reduced their target price on shares of Thoughtworks from $2.75 to $2.50 and set a “neutral” rating for the company in a research note on Monday, April 22nd. William Blair restated a “market perform” rating on shares of Thoughtworks in a research note on Wednesday, February 28th. Piper Sandler reduced their price objective on Thoughtworks from $5.00 to $3.40 and set a “neutral” rating for the company in a research report on Tuesday, February 27th. Finally, Robert W. Baird upgraded Thoughtworks from a “neutral” rating to an “outperform” rating and set a $6.00 target price on the stock in a research report on Tuesday, January 2nd. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Thoughtworks has a consensus rating of “Hold” and a consensus target price of $4.58.

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.