The Vanguard Group, Inc. recently announced the acquisition of new stake in Thoughtworks Holding Inc (NASDAQ:TWKS). The institutional investor has increased its shareholding in the Technology company by 5.39% to 10.8 million shares with purchase of 0.55 million shares. This fresh investment now brings its stake to 3.39% valued currently at $51.95 million. In addition, BlackRock Fund Advisors raised its holdings by 0.48 million to 5.88 million shares. And Alyeska Investment Group LP has lifted its position by 854.23% or 4.48 million shares – to 5.01 million shares.
With over 0.49 million Thoughtworks Holding Inc (TWKS) shares trading Friday and a closing price of $4.61 on the day, the dollar volume was approximately $2.25 million. The shares have shown a negative half year performance of -39.82% and its price on 01/12/24 gained nearly 2.22%. Currently, there are 315.68M common shares owned by the public and among those 91.02M shares have been available to trade.
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Insiders at the company have transacted a total of 32 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 20 of these insider trades were purchases, accounting for 1,865,171 shares. Insider sales of the common stock occurred on 12 occasions, with total insider shares sold totaling 305,905 shares.
The top 3 mutual fund holders in Thoughtworks Holding Inc are MFS New Discovery Value Fund, MFS New Discovery Fund, and Vanguard Total Stock Market ETF. MFS New Discovery Value Fund owns 3.7 million shares of the company’s stock, all valued at over $17.81 million. Vanguard Total Stock Market ETF now owns shares totaling to 0.92% of the shares outstanding.
Shares of Thoughtworks Holding Inc (NASDAQ: TWKS) opened at $4.59, up $0.08 from a prior closing price of $4.51. However, the script later moved the day high at 4.6687, up 2.22%. The company’s stock has a 5-day price change of 3.13% and 16.71% over the past three months. TWKS shares are trading -4.16% year to date (YTD), with the 12-month market performance down to -57.43% lower. It has a 12-month low price of $3.18 and touched a high of $11.81 over the same period. TWKS has an average intraday trading volume of 879.64K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -2.01%, 8.75%, and -19.10% respectively.
Institutional ownership of Thoughtworks Holding Inc (NASDAQ: TWKS) shares accounts for 25.05% of the company’s 315.68M shares outstanding. Mutual fund holders own 11.82%, while other institutional holders and individual stakeholders account for 13.27% and 1.73% respectively.
It has a market capitalization of $1.47B and a beta (3y monthly) value of 1.21. The earnings-per-share (ttm) stands at -$0.10. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.57% over the week and 4.39% over the month.
Analysts forecast that Thoughtworks Holding Inc (TWKS) will achieve an EPS of $0.03 for the current quarter, $0.05 for the next quarter and $0.22 for 2024. The lowest estimate earnings-per-share for the quarter is $0.03 while analysts give the company a high EPS estimate of $0.04. Comparatively, EPS for the current quarter was $0.1 a year ago. Earnings per share for the fiscal year are expected to decrease by -69.80%, and 71.80% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 10 brokerage firm advisors rate Thoughtworks Holding Inc (TWKS) as a “Moderate Buy” at a consensus score of 2.30. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 6 of the 10 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the TWKS, a number of firms have released research notes about the stock. Robert W. Baird stated their Outperform rating for the stock in a research note on January 02, 2024, with the firm’s price target at $6.
