Renaissance Technologies LLC raised its holdings in InnerWorkings, Inc. (NASDAQ:INWK) by 75.2% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,055,500 shares of the business services provider’s stock after acquiring an additional 453,200 shares during the quarter. Renaissance Technologies LLC owned approximately 1.99% of InnerWorkings worth $12,244,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently bought and sold shares of INWK. Bank of New York Mellon Corp lifted its stake in shares of InnerWorkings by 4.0% during the 1st quarter. Bank of New York Mellon Corp now owns 213,140 shares of the business services provider’s stock worth $2,123,000 after purchasing an additional 8,148 shares during the last quarter. Swiss National Bank lifted its stake in shares of InnerWorkings by 8.9% during the 1st quarter. Swiss National Bank now owns 67,600 shares of the business services provider’s stock worth $673,000 after purchasing an additional 5,500 shares during the last quarter. Karp Capital Management Corp purchased a new stake in shares of InnerWorkings during the 1st quarter worth $316,000. Prudential Financial Inc. purchased a new stake in InnerWorkings in the first quarter valued at about $127,000. Finally, American International Group Inc. raised its stake in InnerWorkings by 7.0% in the first quarter. American International Group Inc. now owns 23,658 shares of the business services provider’s stock valued at $236,000 after buying an additional 1,558 shares during the last quarter. 78.88% of the stock is currently owned by institutional investors and hedge funds.
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INWK has been the subject of several research analyst reports. Zacks Investment Research lowered InnerWorkings from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Lake Street Capital began coverage on InnerWorkings in a report on Monday, October 2nd. They issued a “buy” rating and a $14.00 price objective on the stock. BidaskClub lowered InnerWorkings from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, Wunderlich reissued a “buy” rating and issued a $15.00 price objective on shares of InnerWorkings in a report on Friday, June 30th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $14.00.
InnerWorkings, Inc. (NASDAQ:INWK) opened at 10.96 on Friday. The company’s 50-day moving average price is $11.28 and its 200-day moving average price is $11.03. The stock has a market cap of $586.55 million, a P/E ratio of 31.86 and a beta of 1.61. InnerWorkings, Inc. has a 12 month low of $8.07 and a 12 month high of $12.03.
InnerWorkings (NASDAQ:INWK) last released its quarterly earnings data on Monday, August 7th. The business services provider reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.01. InnerWorkings had a net margin of 1.76% and a return on equity of 8.84%. The business had revenue of $279.53 million during the quarter, compared to analyst estimates of $282.62 million. During the same quarter in the previous year, the business earned $0.11 EPS. InnerWorkings’s quarterly revenue was up 3.8% compared to the same quarter last year. Equities analysts forecast that InnerWorkings, Inc. will post $0.48 earnings per share for the current year.
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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