Swiss National Bank grew its position in InnerWorkings, Inc. (NASDAQ:INWK) by 21.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,200 shares of the business services provider’s stock after buying an additional 14,600 shares during the quarter. Swiss National Bank owned 0.15% of InnerWorkings worth $954,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Legal & General Group Plc boosted its position in shares of InnerWorkings by 10.4% during the 2nd quarter. Legal & General Group Plc now owns 10,713 shares of the business services provider’s stock worth $124,000 after acquiring an additional 1,007 shares in the last quarter. Prudential Financial Inc. acquired a new position in shares of InnerWorkings during the 1st quarter worth about $127,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of InnerWorkings in the 2nd quarter valued at about $194,000. Alliancebernstein L.P. lifted its holdings in shares of InnerWorkings by 11.8% in the 1st quarter. Alliancebernstein L.P. now owns 17,000 shares of the business services provider’s stock valued at $169,000 after purchasing an additional 1,800 shares during the last quarter. Finally, American International Group Inc. lifted its holdings in shares of InnerWorkings by 7.0% in the 1st quarter. American International Group Inc. now owns 23,658 shares of the business services provider’s stock valued at $236,000 after purchasing an additional 1,558 shares during the last quarter. 78.88% of the stock is owned by hedge funds and other institutional investors.
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Shares of InnerWorkings, Inc. (INWK) opened at 11.00 on Friday. InnerWorkings, Inc. has a one year low of $8.07 and a one year high of $12.03. The firm has a market cap of $588.69 million, a PE ratio of 31.98 and a beta of 1.61. The firm’s 50-day moving average price is $11.28 and its 200-day moving average price is $11.03.
InnerWorkings (NASDAQ:INWK) last released its earnings results on Monday, August 7th. The business services provider reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. The business had revenue of $279.53 million during the quarter, compared to the consensus estimate of $282.62 million. InnerWorkings had a net margin of 1.76% and a return on equity of 8.84%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.11 earnings per share. Equities research analysts expect that InnerWorkings, Inc. will post $0.48 earnings per share for the current fiscal year.
Several analysts have commented on the company. BidaskClub cut InnerWorkings from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Zacks Investment Research cut InnerWorkings from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Lake Street Capital began coverage on InnerWorkings in a report on Monday, October 2nd. They issued a “buy” rating and a $14.00 price target on the stock. Finally, Wunderlich restated a “buy” rating and issued a $15.00 price target on shares of InnerWorkings in a report on Friday, June 30th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $14.00.
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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