InnerWorkings, Inc. (INWK) Downgraded to Hold at BidaskClub

BidaskClub lowered shares of InnerWorkings, Inc. (NASDAQ:INWK) from a buy rating to a hold rating in a research report released on Tuesday, July 25th.

A number of other research analysts have also weighed in on the stock. Wunderlich initiated coverage on shares of InnerWorkings in a research note on Thursday, April 6th. They issued a buy rating and a $12.00 target price on the stock. Zacks Investment Research raised shares of InnerWorkings from a hold rating to a strong-buy rating and set a $12.00 target price on the stock in a research note on Wednesday, April 26th. Finally, Barrington Research raised their target price on shares of InnerWorkings from $12.00 to $13.00 and gave the stock an outperform rating in a research note on Wednesday, May 10th. Two analysts have rated the stock with a sell rating and two have given a buy rating to the stock. The company has an average rating of Hold and an average target price of $13.33.

InnerWorkings (NASDAQ INWK) traded up 0.47% during mid-day trading on Tuesday, hitting $10.65. The company’s stock had a trading volume of 236,564 shares. InnerWorkings has a 12-month low of $8.07 and a 12-month high of $11.94. The firm’s 50-day moving average is $11.48 and its 200-day moving average is $10.52. The company has a market cap of $569.96 million, a P/E ratio of 30.96 and a beta of 1.59.

InnerWorkings (NASDAQ:INWK) last issued its quarterly earnings results on Monday, August 7th. The business services provider reported $0.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.01. The firm had revenue of $279.53 million for the quarter, compared to analyst estimates of $282.62 million. InnerWorkings had a net margin of 1.76% and a return on equity of 8.84%. InnerWorkings’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company posted $0.11 EPS. Analysts predict that InnerWorkings will post $0.48 EPS for the current fiscal year.

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A number of hedge funds have recently bought and sold shares of the stock. Sei Investments Co. increased its stake in InnerWorkings by 107.3% in the first quarter. Sei Investments Co. now owns 193,005 shares of the business services provider’s stock valued at $1,922,000 after buying an additional 99,881 shares during the period. Karp Capital Management Corp bought a new stake in InnerWorkings during the first quarter valued at $316,000. Swiss National Bank increased its stake in InnerWorkings by 8.9% in the first quarter. Swiss National Bank now owns 67,600 shares of the business services provider’s stock valued at $673,000 after buying an additional 5,500 shares during the period. Bank of New York Mellon Corp increased its position in InnerWorkings by 4.0% in the first quarter. Bank of New York Mellon Corp now owns 213,140 shares of the business services provider’s stock valued at $2,123,000 after buying an additional 8,148 shares during the period. Finally, Russell Investments Group Ltd. increased its position in InnerWorkings by 8.3% in the first quarter. Russell Investments Group Ltd. now owns 663,675 shares of the business services provider’s stock valued at $6,609,000 after buying an additional 50,649 shares during the period. Hedge funds and other institutional investors own 80.56% of the company’s stock.

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’s segments include North America and International.

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