YES
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The verb is *"denken"* (*to think*).
> Ich denke.  
> I think.

The present participle is *"denkend"* (*thinking*).
> Der Professor sitzt denkend am Tisch.  
> The professor sits thinking at the table.  

In this form it also can be used as an attribute (i.e. like an adjective).
> Der denkende Professor sitzt am Tisch.  
> The thinking professor sits at the table.  

And this attribute can be nominalized, i.e. it is used like a noun when the "original" noun is left. Because it is nominalized, i.e. a noun, it also has to be written with an uppercase letter as first letter.
> Der Denkende sitzt am Tisch.  
> The thinking sits at the table.  

And if you use it with an indefinite article, and if it represents something with a neuter gender (e.g. *"das Kind" = "the child"*), then you have:
> Ein Denkendes sitzt am Tisch.  
> A thinking sits at the table.  

What is thinking can be a person with a grammatical neuter gender, like "das Kind" = "the child" or "das Mädchen" = "the girl" or "das Männchen" = "the little man" or a thing ("das Gerät" = "the device", "das Elektronengehirn" = "the electronic brain"), as long as its grammatical gender is neuter.

If it was masculine ("der Mann" = "the man", "der Computer" = "the computer"), it would be: 
> Ein Denkender sitzt am Tisch.  
> A thinking sits at the table.  

And here is the feminine version ("die Frau" = "the woman", "die Maschine" = "the machine"):
> Eine Denkende sitzt am Tisch.  
> A thinking sits at the table.  

Btw: I know that nominalized adjectives and participles are rare in English, but they still exist ("the good, the bad and the ugly", "the poor and the rich").