Thoughtworks (NASDAQ:TWKS) Announces Quarterly Earnings Results

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

Thoughtworks Price Performance

Shares of TWKS stock opened at $8.34 on Tuesday. The company’s 50-day simple moving average is $10.42 and its two-hundred day simple moving average is $13.65. Thoughtworks has a one year low of $7.61 and a one year high of $33.69. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.39 and a current ratio of 3.39.

Insider Transactions at Thoughtworks

In other news, insider Angela Ferguson sold 2,000 shares of the company’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 sale, 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 available through the SEC website. In other news, insider Angela Ferguson sold 2,000 shares of the company’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 sale, 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 available through the SEC website. Also, CEO Christopher Gerard Murphy sold 14,479 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 383,519 shares of the company’s stock, valued at approximately $4,533,194.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 62,597 shares of company stock valued at $702,637. Company insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On Thoughtworks

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. MetLife Investment Management LLC purchased a new stake in Thoughtworks during the first quarter valued at approximately $31,000. Advisors Asset Management Inc. purchased a new stake in Thoughtworks during the first quarter valued at approximately $44,000. Jane Street Group LLC lifted its position in Thoughtworks by 12.0% during the first quarter. Jane Street Group LLC now owns 24,967 shares of the company’s stock valued at $519,000 after acquiring an additional 2,667 shares during the last quarter. Citigroup Inc. lifted its position in Thoughtworks by 52.3% during the first quarter. Citigroup Inc. now owns 7,897 shares of the company’s stock valued at $165,000 after acquiring an additional 2,713 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Thoughtworks by 21.7% during the second quarter. JPMorgan Chase & Co. now owns 24,436 shares of the company’s stock valued at $345,000 after acquiring an additional 4,353 shares during the last quarter. Hedge funds and other institutional investors own 18.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TWKS. JPMorgan Chase & Co. reduced their target price on shares of Thoughtworks from $20.00 to $16.00 and set an “overweight” rating on the stock in a report on Friday, October 14th. Citigroup reduced their target price on shares of Thoughtworks from $24.00 to $19.00 and set a “buy” rating on the stock in a report on Tuesday, August 16th. Cowen reduced their target price on shares of Thoughtworks from $21.00 to $20.00 in a report on Tuesday, August 16th. Royal Bank of Canada reduced their target price on shares of Thoughtworks from $25.00 to $22.00 and set an “outperform” rating on the stock in a report on Tuesday, August 16th. Finally, Robert W. Baird cut their price target on shares of Thoughtworks from $18.00 to $14.00 in a report on Tuesday, October 11th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Thoughtworks presently has an average rating of “Moderate Buy” and a consensus price target of $19.72.

About Thoughtworks

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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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