Eagle Asset Management Inc. increased its stake in InnerWorkings, Inc. (NASDAQ:INWK) by 3.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 571,582 shares of the business services provider’s stock after purchasing an additional 17,086 shares during the quarter. Eagle Asset Management Inc. owned 1.06% of InnerWorkings worth $6,584,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Bank of New York Mellon Corp boosted its stake in shares of InnerWorkings by 3.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 196,258 shares of the business services provider’s stock worth $2,207,000 after purchasing an additional 7,213 shares during the last quarter. New York State Common Retirement Fund boosted its position in shares of InnerWorkings by 116.2% in the third quarter. New York State Common Retirement Fund now owns 104,637 shares of the business services provider’s stock worth $1,177,000 after acquiring an additional 56,237 shares during the last quarter. Sei Investments Co. boosted its position in shares of InnerWorkings by 8.9% in the third quarter. Sei Investments Co. now owns 184,978 shares of the business services provider’s stock worth $2,081,000 after acquiring an additional 15,133 shares during the last quarter. Scout Investments Inc. boosted its position in shares of InnerWorkings by 37.2% in the third quarter. Scout Investments Inc. now owns 201,179 shares of the business services provider’s stock worth $2,263,000 after acquiring an additional 54,504 shares during the last quarter. Finally, Boston Partners boosted its position in shares of InnerWorkings by 7.2% in the third quarter. Boston Partners now owns 1,065,420 shares of the business services provider’s stock worth $11,986,000 after acquiring an additional 71,210 shares during the last quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.
Several research analysts recently commented on the stock. Zacks Investment Research lowered shares of InnerWorkings from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Dougherty & Co initiated coverage on shares of InnerWorkings in a research note on Tuesday, October 31st. They set a “buy” rating and a $14.00 price objective on the stock. Finally, Lake Street Capital initiated coverage on shares of InnerWorkings in a research note on Monday, October 2nd. They set a “buy” rating and a $14.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $13.60.
InnerWorkings, Inc. (INWK) opened at $10.16 on Wednesday. The company has a market cap of $540.14, a price-to-earnings ratio of 21.23, a price-to-earnings-growth ratio of 1.52 and a beta of 1.67. The company has a quick ratio of 1.63, a current ratio of 1.86 and a debt-to-equity ratio of 0.51. InnerWorkings, Inc. has a 1-year low of $9.08 and a 1-year high of $12.03.
InnerWorkings (NASDAQ:INWK) last announced its quarterly earnings results on Tuesday, November 7th. The business services provider reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.02. InnerWorkings had a net margin of 2.04% and a return on equity of 9.53%. The company had revenue of $288.40 million during the quarter, compared to the consensus estimate of $289.82 million. During the same quarter in the previous year, the company posted $0.11 earnings per share. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. equities analysts forecast that InnerWorkings, Inc. will post 0.49 EPS for the current year.
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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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