Thoughtworks (NASDAQ:TWKS) Sees Strong Trading Volume – Should You Buy?

Shares of Thoughtworks Holding, Inc. (NASDAQ:TWKS) saw an uptick in trading volume on Tuesday . 5,622,934 shares were traded during trading, an increase of 205% from the previous session’s volume of 1,841,582 shares.The stock last traded at $4.51 and had previously closed at $4.49.

Wall Street Analyst Weigh In

TWKS has been the subject of a number of recent analyst reports. Piper Sandler boosted their price target on shares of Thoughtworks from $3.40 to $4.40 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. Robert W. Baird restated a “neutral” rating and issued a $4.40 target price on shares of Thoughtworks in a research note on Tuesday, August 6th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Thoughtworks in a report on Tuesday, August 6th. Finally, Baird R W lowered shares of Thoughtworks from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $4.18.

Thoughtworks Stock Performance

The company has a market cap of $1.44 billion, a PE ratio of -14.90 and a beta of 1.13. The stock has a 50 day moving average price of $4.42 and a 200 day moving average price of $3.65. The company has a current ratio of 2.59, a quick ratio of 2.59 and a debt-to-equity ratio of 0.39.

Hedge Funds Weigh In On Thoughtworks

A number of hedge funds have recently bought and sold shares of TWKS. Inspire Investing LLC bought a new position in Thoughtworks in the 1st quarter valued at approximately $360,000. State Board of Administration of Florida Retirement System boosted its holdings in shares of Thoughtworks by 52.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 40,246 shares of the company’s stock worth $102,000 after buying an additional 13,826 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Thoughtworks by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 11,446,418 shares of the company’s stock worth $28,959,000 after purchasing an additional 112,782 shares in the last quarter. Summit Creek Advisors LLC increased its position in Thoughtworks by 0.7% in the first quarter. Summit Creek Advisors LLC now owns 1,335,630 shares of the company’s stock worth $3,379,000 after buying an additional 8,986 shares in the last quarter. Finally, Pitcairn Co. bought a new position in shares of Thoughtworks in the first quarter worth about $102,000. Institutional investors own 32.81% of the company’s stock.

Thoughtworks Company 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.