Zacks Investment Research Downgrades InnerWorkings (NASDAQ:INWK) to Hold

Zacks Investment Research lowered shares of InnerWorkings (NASDAQ:INWK) from a buy rating to a hold rating in a research note published on Friday, Zacks.com reports.

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. “

INWK has been the subject of several other research reports. ValuEngine upgraded InnerWorkings from a sell rating to a hold rating in a report on Thursday. Barrington Research restated a hold rating on shares of InnerWorkings in a report on Wednesday, June 26th. Four research analysts have rated the stock with a hold rating, The stock currently has a consensus rating of Hold and an average target price of $4.00.

Shares of NASDAQ INWK traded down $0.21 during mid-day trading on Friday, hitting $3.16. The company had a trading volume of 2,540 shares, compared to its average volume of 97,301. The company has a market cap of $174.77 million, a P/E ratio of -39.50 and a beta of 1.43. The company has a 50-day moving average price of $3.82. InnerWorkings has a one year low of $3.12 and a one year high of $8.12.

InnerWorkings (NASDAQ:INWK) last announced its quarterly earnings data on Thursday, May 9th. The business services provider reported $0.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.03. The company had revenue of $267.24 million during the quarter, compared to analysts’ expectations of $271.13 million. InnerWorkings had a negative return on equity of 1.08% and a negative net margin of 6.91%. Analysts predict that InnerWorkings will post 0.23 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the stock. Northern Trust Corp grew its holdings in InnerWorkings by 0.6% during the fourth quarter. Northern Trust Corp now owns 542,018 shares of the business services provider’s stock worth $2,027,000 after purchasing an additional 2,972 shares during the period. Millennium Management LLC grew its holdings in InnerWorkings by 37.5% during the fourth quarter. Millennium Management LLC now owns 97,341 shares of the business services provider’s stock worth $364,000 after purchasing an additional 26,549 shares during the period. Jane Street Group LLC bought a new position in InnerWorkings during the fourth quarter worth about $49,000. Citigroup Inc. grew its holdings in InnerWorkings by 37.4% during the fourth quarter. Citigroup Inc. now owns 23,288 shares of the business services provider’s stock worth $87,000 after purchasing an additional 6,340 shares during the period. Finally, BlackRock Inc. grew its holdings in InnerWorkings by 2.2% during the fourth quarter. BlackRock Inc. now owns 3,084,027 shares of the business services provider’s stock worth $11,534,000 after purchasing an additional 67,468 shares during the period. Institutional investors and hedge funds own 83.28% of the company’s stock.

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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