InnerWorkings Inc. (INWK) Upgraded by TheStreet to Buy
Separately, Zacks Investment Research upgraded InnerWorkings from a hold rating to a buy rating and set a $10.00 price target for the company in a research report on Wednesday, August 17th.
Shares of InnerWorkings (NASDAQ:INWK) traded up 1.84% during mid-day trading on Tuesday, hitting $9.95. The stock had a trading volume of 126,337 shares. The company has a 50-day moving average of $8.96 and a 200 day moving average of $8.67. InnerWorkings has a one year low of $6.06 and a one year high of $10.08. The firm’s market cap is $535.03 million.
InnerWorkings (NASDAQ:INWK) last released its quarterly earnings results on Tuesday, November 8th. The company reported $0.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.02. InnerWorkings had a positive return on equity of 7.37% and a negative net margin of 3.67%. The business earned $280 million during the quarter, compared to analyst estimates of $267.27 million. During the same quarter last year, the company posted $0.11 EPS. InnerWorkings’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, equities research analysts forecast that InnerWorkings will post $0.33 earnings per share for the current year.
In related news, major shareholder Sagard Capital Partners, L.P. sold 18,611 shares of the stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $8.89, for a total value of $165,451.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 18.40% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp increased its stake in 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. Kalmar Investments Inc. DE increased its stake in 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. State Board of Administration of Florida Retirement System increased its stake in InnerWorkings by 0.8% in the second quarter. State Board of Administration of Florida Retirement System now owns 43,157 shares of the company’s stock worth $357,000 after buying an additional 348 shares during the period. Aristotle Capital Boston LLC increased its stake in InnerWorkings by 3.1% in the second quarter. Aristotle Capital Boston LLC now owns 753,356 shares of the company’s stock worth $6,230,000 after buying an additional 22,763 shares during the period. Finally, GSA Capital Partners LLP increased its stake in InnerWorkings by 51.8% in the second quarter. GSA Capital Partners LLP now owns 145,525 shares of the company’s stock worth $1,203,000 after buying an additional 49,638 shares during the period. 84.04% of the stock is owned by institutional investors.
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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