Zacks Investment Research lowered shares of InnerWorkings, Inc. (NASDAQ:INWK) from a buy rating to a hold rating in a report published on Friday morning.

According to Zacks, “INNERWORKINGS are a leading global provider of managed print and promotional procurement solutions to corporate clients. With proprietary technology, an extensive supplier network and domain expertise, they procure, manage and deliver printed products as part of a comprehensive outsourced enterprise solution. Their technology is designed to capitalize on excess manufacturing capacity and other inefficiencies in the traditional print supply chain to obtain favorable pricing and to deliver high quality products and services for our clients. “

Other equities analysts have also issued reports about the company. Dougherty & Co initiated coverage on InnerWorkings in a research note on Tuesday, October 31st. They issued a buy rating and a $14.00 target price for the company. Lake Street Capital initiated coverage on InnerWorkings in a research note on Monday, October 2nd. They issued a buy rating and a $14.00 target price for the company. Finally, BidaskClub lowered InnerWorkings from a buy rating to a hold rating in a research note on Tuesday, July 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. InnerWorkings has an average rating of Buy and an average price target of $13.60.

InnerWorkings (NASDAQ INWK) traded down $0.03 during midday trading on Friday, hitting $10.32. The stock had a trading volume of 563,500 shares, compared to its average volume of 211,662. InnerWorkings has a 12 month low of $8.16 and a 12 month high of $12.03. The firm has a market capitalization of $558.54, a PE ratio of 21.96, a price-to-earnings-growth ratio of 1.59 and a beta of 1.70. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.50 and a current ratio of 1.86.

InnerWorkings (NASDAQ:INWK) last released its earnings results on Tuesday, November 7th. The business services provider reported $0.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.02. The firm had revenue of $288.40 million during the quarter, compared to analyst estimates of $289.82 million. InnerWorkings had a return on equity of 9.53% and a net margin of 2.04%. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.11 earnings per share. analysts forecast that InnerWorkings will post 0.48 EPS for the current fiscal year.

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A number of institutional investors have recently added to or reduced their stakes in INWK. Bank of New York Mellon Corp grew its position in InnerWorkings by 4.0% during the first quarter. Bank of New York Mellon Corp now owns 213,140 shares of the business services provider’s stock valued at $2,123,000 after acquiring an additional 8,148 shares during the period. Swiss National Bank grew its position in InnerWorkings by 8.9% during the first quarter. Swiss National Bank now owns 67,600 shares of the business services provider’s stock valued at $673,000 after acquiring an additional 5,500 shares during the period. Prudential Financial Inc. purchased a new stake in InnerWorkings during the first quarter valued at about $127,000. American International Group Inc. grew its position in InnerWorkings by 7.0% during the first quarter. American International Group Inc. now owns 23,658 shares of the business services provider’s stock valued at $236,000 after acquiring an additional 1,558 shares during the period. Finally, Alliancebernstein L.P. grew its position in InnerWorkings by 11.8% during the first quarter. Alliancebernstein L.P. now owns 17,000 shares of the business services provider’s stock valued at $169,000 after acquiring an additional 1,800 shares during the period. Hedge funds and other institutional investors own 79.57% of the company’s stock.

About InnerWorkings

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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