InnerWorkings Inc. (NASDAQ:INWK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday. The brokerage presently has a $10.00 price target on the stock. Zacks Investment Research’s price target indicates a potential upside of 10.74% from the company’s previous close.

According to Zacks, “INNERWORKINGS are a leading global provider of managed print and promotional procurement solutions to corporate clients. With proprietary technology, an extensive supplier network and domain expertise, they procure, manage and deliver printed products as part of a comprehensive outsourced enterprise solution. Their technology is designed to capitalize on excess manufacturing capacity and other inefficiencies in the traditional print supply chain to obtain favorable pricing and to deliver high quality products and services for our clients. “

InnerWorkings (NASDAQ:INWK) opened at 9.03 on Friday. InnerWorkings has a 12 month low of $6.06 and a 12 month high of $10.08. The stock’s market capitalization is $485.56 million. The stock’s 50 day moving average is $8.91 and its 200-day moving average is $8.61.

InnerWorkings (NASDAQ:INWK) last released its quarterly earnings data on Tuesday, November 8th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.02. InnerWorkings had a negative net margin of 3.67% and a positive return on equity of 7.37%. The company earned $280 million during the quarter, compared to analyst estimates of $267.27 million. During the same quarter in the prior year, the business earned $0.11 earnings per share. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. On average, equities research analysts expect that InnerWorkings will post $0.33 earnings per share for the current year.

In other InnerWorkings news, major shareholder Sagard Capital Partners, L.P. sold 6,721,467 shares of the firm’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $8.25, for a total transaction of $55,452,102.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 18.40% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Boston Partners increased its position in InnerWorkings by 618.8% in the second quarter. Boston Partners now owns 778,510 shares of the company’s stock worth $6,439,000 after buying an additional 670,210 shares during the last quarter. Emerald Acquisition Ltd. increased its position in InnerWorkings by 161.8% in the third quarter. Emerald Acquisition Ltd. now owns 535,870 shares of the company’s stock worth $5,047,000 after buying an additional 331,206 shares during the last quarter. Vanguard Group Inc. increased its position in InnerWorkings by 7.0% in the second quarter. Vanguard Group Inc. now owns 2,788,530 shares of the company’s stock worth $23,060,000 after buying an additional 182,161 shares during the last quarter. Dimensional Fund Advisors LP increased its position in InnerWorkings by 10.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,920,864 shares of the company’s stock worth $15,885,000 after buying an additional 177,569 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its position in InnerWorkings by 9.9% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,270,956 shares of the company’s stock worth $11,972,000 after buying an additional 114,051 shares during the last quarter. 78.69% of the stock is owned by institutional investors.

About InnerWorkings

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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