InnerWorkings Inc. (NASDAQ:INWK) has been assigned a consensus broker rating score of 1.75 (Buy) from the four analysts that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company.
Brokerages have set a one year consensus target price of $10.67 for the company and are anticipating that the company will post $0.08 earnings per share for the current quarter, according to Zacks. Zacks has also assigned InnerWorkings an industry rank of 171 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research raised InnerWorkings from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a research note on Wednesday, August 17th.
Shares of InnerWorkings (NASDAQ:INWK) traded down 0.72% on Thursday, reaching $9.00. The company had a trading volume of 45,895 shares. The company has a 50 day moving average of $8.88 and a 200-day moving average of $8.44. The company’s market capitalization is $482.36 million. InnerWorkings has a 52 week low of $6.06 and a 52 week high of $10.08.
InnerWorkings (NASDAQ:INWK) last issued its quarterly earnings data on Monday, August 15th. The company reported $0.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.07. InnerWorkings had a positive return on equity of 7.05% and a negative net margin of 3.66%. The business earned $269.20 million during the quarter, compared to analysts’ expectations of $262.46 million. During the same period in the previous year, the firm posted $0.04 earnings per share. The company’s revenue was up 6.7% on a year-over-year basis. Analysts predict that InnerWorkings will post $0.33 earnings per share for the current fiscal year.
In related news, major shareholder Sagard Capital Partners, L.P. sold 44,354 shares of InnerWorkings stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $9.15, for a total value of $405,839.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 18.40% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in INWK. Emerald Acquisition Ltd. acquired a new stake in shares of InnerWorkings during the second quarter worth about $1,693,000. Swiss National Bank increased its stake in shares of InnerWorkings by 9.3% in the second quarter. Swiss National Bank now owns 62,100 shares of the company’s stock worth $514,000 after buying an additional 5,300 shares during the period. California State Teachers Retirement System increased its stake in shares of InnerWorkings by 2.5% in the second quarter. California State Teachers Retirement System now owns 80,584 shares of the company’s stock worth $666,000 after buying an additional 1,970 shares during the period. Bank of New York Mellon Corp increased its stake in shares of InnerWorkings by 4.4% in the second quarter. Bank of New York Mellon Corp now owns 227,331 shares of the company’s stock worth $1,880,000 after buying an additional 9,542 shares during the period. Finally, Kalmar Investments Inc. DE increased its stake in shares of InnerWorkings by 11.8% in the second quarter. Kalmar Investments Inc. DE now owns 670,242 shares of the company’s stock worth $5,543,000 after buying an additional 70,999 shares during the period. 77.85% of the stock is owned by institutional investors.
InnerWorkings Company Profile
InnerWorkings, Inc is a marketing execution company. The Company’s software applications and databases create an integrated solution that stores, analyzes and tracks the production capabilities of its supplier network, as well as detailed pricing data. The Company operates through three segments: North America, Latin America and EMEA.
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