InnerWorkings (INWK) Downgraded by Zacks Investment Research to Strong Sell

Zacks Investment Research cut shares of InnerWorkings (NASDAQ:INWK) from a hold rating to a strong sell rating in a research note issued to investors on Wednesday.

According to Zacks, “InnerWorkings, Inc. is a marketing execution company. Its software applications and databases create an integrated solution which stores, analyzes and tracks the production capabilities of its supplier network as well as detailed pricing data. The company primarily serves retail, financial services, hospitality, consumer packaged goods, non-profits, healthcare, pharmaceuticals, food and beverage, broadcasting and cable and transportation sectors. InnerWorkings, Inc. is based in CHICAGO, United States. “

Other analysts have also issued reports about the stock. Craig Hallum lowered shares of InnerWorkings from a buy rating to a hold rating and set a $10.00 price target for the company. in a research report on Wednesday, August 1st. BidaskClub upgraded shares of InnerWorkings from a sell rating to a hold rating in a research report on Wednesday, June 27th. Barrington Research restated a hold rating on shares of InnerWorkings in a research report on Wednesday, August 22nd. Finally, ValuEngine upgraded shares of InnerWorkings from a strong sell rating to a sell rating in a research report on Saturday, September 1st. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. InnerWorkings has a consensus rating of Hold and an average price target of $12.00.

NASDAQ INWK opened at $7.25 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 1.04 and a debt-to-equity ratio of 0.12. InnerWorkings has a 12-month low of $5.90 and a 12-month high of $11.53. The stock has a market cap of $384.50 million, a price-to-earnings ratio of 17.68, a price-to-earnings-growth ratio of 1.79 and a beta of 1.52.

InnerWorkings (NASDAQ:INWK) last posted its quarterly earnings results on Tuesday, August 14th. The business services provider reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.02). InnerWorkings had a net margin of 0.61% and a return on equity of 3.93%. The business had revenue of $281.97 million for the quarter, compared to analysts’ expectations of $291.22 million. Sell-side analysts predict that InnerWorkings will post 0.31 earnings per share for the current fiscal year.

In other news, CEO Richard S. Stoddart acquired 6,847 shares of the stock in a transaction dated Tuesday, August 21st. The stock was purchased at an average cost of $7.67 per share, with a total value of $52,516.49. Following the completion of the purchase, the chief executive officer now owns 85,878 shares in the company, valued at approximately $658,684.26. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 6.40% of the company’s stock.

Several large investors have recently modified their holdings of INWK. Schwab Charles Investment Management Inc. raised its stake in shares of InnerWorkings by 15.1% during the first quarter. Schwab Charles Investment Management Inc. now owns 220,957 shares of the business services provider’s stock valued at $2,000,000 after acquiring an additional 28,970 shares during the last quarter. Northern Trust Corp raised its stake in InnerWorkings by 0.9% in the first quarter. Northern Trust Corp now owns 653,750 shares of the business services provider’s stock worth $5,916,000 after buying an additional 5,941 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in InnerWorkings by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 4,626,535 shares of the business services provider’s stock worth $41,870,000 after buying an additional 24,372 shares in the last quarter. Russell Investments Group Ltd. raised its stake in InnerWorkings by 27.0% in the first quarter. Russell Investments Group Ltd. now owns 57,845 shares of the business services provider’s stock worth $524,000 after buying an additional 12,305 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its stake in InnerWorkings by 87.4% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 371,479 shares of the business services provider’s stock worth $3,362,000 after buying an additional 173,233 shares in the last quarter. 84.16% of the stock is owned by hedge funds and other institutional investors.

About InnerWorkings

InnerWorkings, Inc provides marketing execution solutions in North America and internationally. 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.

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