InnerWorkings (INWK) Upgraded to “Hold” at BidaskClub

BidaskClub upgraded shares of InnerWorkings (NASDAQ:INWK) from a sell rating to a hold rating in a report published on Wednesday.

Other equities research analysts have also issued reports about the stock. Lake Street Capital reiterated a buy rating and set a $13.00 price target (down from $14.00) on shares of InnerWorkings in a report on Tuesday, March 13th. Zacks Investment Research upgraded shares of InnerWorkings from a hold rating to a buy rating and set a $11.00 price objective for the company in a report on Friday, January 12th. Finally, ValuEngine lowered shares of InnerWorkings from a hold rating to a sell rating in a report on Monday, April 2nd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $13.20.

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NASDAQ:INWK opened at $10.05 on Wednesday. InnerWorkings has a 52 week low of $8.19 and a 52 week high of $12.03. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.84 and a quick ratio of 1.67. The firm has a market cap of $533.19, a P/E ratio of 24.27, a PEG ratio of 1.29 and a beta of 1.62.

InnerWorkings (NASDAQ:INWK) last posted its quarterly earnings results on Monday, March 12th. The business services provider reported $0.06 EPS for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.08). InnerWorkings had a net margin of 1.67% and a return on equity of 8.01%. The firm had revenue of $301.00 million for the quarter, compared to the consensus estimate of $304.90 million. During the same quarter in the prior year, the company earned $0.12 earnings per share. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. equities research analysts expect that InnerWorkings will post 0.57 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of INWK. ArrowMark Colorado Holdings LLC raised its holdings in InnerWorkings by 40.8% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 4,105,898 shares of the business services provider’s stock worth $41,182,000 after purchasing an additional 1,189,560 shares in the last quarter. American Century Companies Inc. raised its holdings in InnerWorkings by 53.6% in the 4th quarter. American Century Companies Inc. now owns 2,115,965 shares of the business services provider’s stock worth $21,223,000 after purchasing an additional 738,351 shares in the last quarter. Millennium Management LLC bought a new position in InnerWorkings in the 4th quarter worth $3,857,000. Cardinal Capital Management LLC CT raised its holdings in InnerWorkings by 18.8% in the 4th quarter. Cardinal Capital Management LLC CT now owns 2,138,402 shares of the business services provider’s stock worth $21,448,000 after purchasing an additional 337,828 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in InnerWorkings by 92.8% in the 4th quarter. Deutsche Bank AG now owns 508,221 shares of the business services provider’s stock worth $5,097,000 after purchasing an additional 244,608 shares in the last quarter. Institutional investors and hedge funds own 81.91% of the company’s stock.

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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’s segments include North America and International.

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