Royal Bank of Canada lifted its stake in shares of InnerWorkings, Inc. (NASDAQ:INWK) by 224.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 101,932 shares of the business services provider’s stock after acquiring an additional 70,540 shares during the quarter. Royal Bank of Canada owned about 0.19% of InnerWorkings worth $1,183,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. PDT Partners LLC increased its stake in shares of InnerWorkings by 72.1% during the second quarter. PDT Partners LLC now owns 46,300 shares of the business services provider’s stock valued at $537,000 after acquiring an additional 19,400 shares during the period. Petrus Trust Company LTA acquired a new position in shares of InnerWorkings during the second quarter valued at approximately $130,000. Stifel Financial Corp acquired a new position in shares of InnerWorkings during the second quarter valued at approximately $7,623,000. Zacks Investment Management acquired a new position in shares of InnerWorkings during the second quarter valued at approximately $146,000. Finally, Voya Investment Management LLC increased its stake in shares of InnerWorkings by 10.9% during the second quarter. Voya Investment Management LLC now owns 26,905 shares of the business services provider’s stock valued at $312,000 after acquiring an additional 2,647 shares during the period. Institutional investors and hedge funds own 79.33% of the company’s stock.

InnerWorkings (NASDAQ:INWK) last issued its earnings results on Monday, August 7th. The business services provider reported $0.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.01. InnerWorkings had a net margin of 1.76% and a return on equity of 8.84%. The firm had revenue of $279.53 million during the quarter, compared to the consensus estimate of $282.62 million. During the same quarter in the prior year, the firm earned $0.11 earnings per share. The business’s quarterly revenue was up 3.8% on a year-over-year basis.

Several research analysts have issued reports on the stock. Zacks Investment Research lowered shares of InnerWorkings from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Lake Street Capital assumed coverage on shares of InnerWorkings in a research report on Monday, October 2nd. They issued a “buy” rating and a $14.00 price target on the stock. BidaskClub lowered shares of InnerWorkings from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Dougherty & Co assumed coverage on shares of InnerWorkings in a research report on Tuesday. They issued a “buy” rating and a $14.00 price target on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $14.00.

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InnerWorkings Profile

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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Institutional Ownership by Quarter for InnerWorkings (NASDAQ:INWK)

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