InnerWorkings (NASDAQ:INWK) issued its earnings results on Thursday. The business services provider reported $0.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.08), Morningstar.com reports. The company had revenue of $270.85 million for the quarter, compared to the consensus estimate of $294.87 million. InnerWorkings had a return on equity of 3.93% and a net margin of 0.61%. InnerWorkings updated its FY 2018 guidance to $0.17-0.20 EPS.
NASDAQ INWK traded down $2.80 on Friday, hitting $4.24. 989,159 shares of the company were exchanged, compared to its average volume of 163,720. The firm has a market cap of $370.42 million, a PE ratio of 10.34, a P/E/G ratio of 1.72 and a beta of 1.53. InnerWorkings has a 12 month low of $3.93 and a 12 month high of $11.04. The company has a quick ratio of 0.92, a current ratio of 1.04 and a debt-to-equity ratio of 0.12.
INWK has been the topic of several research analyst reports. Craig Hallum lowered shares of InnerWorkings from a “buy” rating to a “hold” rating and set a $10.00 target price on the stock. in a research note on Wednesday, August 1st. Barrington Research reissued a “hold” rating on shares of InnerWorkings in a research note on Wednesday, August 22nd. Zacks Investment Research raised shares of InnerWorkings from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 24th. BidaskClub raised shares of InnerWorkings from a “strong sell” rating to a “sell” rating in a research note on Friday, August 17th. Finally, ValuEngine raised shares of InnerWorkings from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 1st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $11.33.
In related news, CEO Richard S. Stoddart bought 6,847 shares of the business’s stock in a transaction that occurred on Tuesday, August 21st. The shares were acquired 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 directly owns 85,878 shares in the company, valued at $658,684.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.40% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. lifted its stake in shares of InnerWorkings by 46.5% in the third quarter. American Century Companies Inc. now owns 3,620,978 shares of the business services provider’s stock valued at $28,678,000 after buying an additional 1,149,419 shares in the last quarter. Eagle Boston Investment Management Inc. lifted its stake in shares of InnerWorkings by 4.9% in the third quarter. Eagle Boston Investment Management Inc. now owns 1,290,089 shares of the business services provider’s stock valued at $10,217,000 after buying an additional 59,752 shares in the last quarter. Engine Capital Management LP lifted its stake in shares of InnerWorkings by 113.7% in the second quarter. Engine Capital Management LP now owns 980,391 shares of the business services provider’s stock valued at $8,520,000 after buying an additional 521,585 shares in the last quarter. Northern Trust Corp lifted its stake in shares of InnerWorkings by 0.9% in the first quarter. Northern Trust Corp now owns 653,750 shares of the business services provider’s stock valued at $5,916,000 after buying an additional 5,941 shares in the last quarter. Finally, Scout Investments Inc. lifted its stake in shares of InnerWorkings by 26.3% in the third quarter. Scout Investments Inc. now owns 519,560 shares of the business services provider’s stock valued at $4,115,000 after buying an additional 108,068 shares in the last quarter. 82.54% of the stock is currently owned by hedge funds and other institutional investors.
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InnerWorkings Company Profile
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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