Vanguard Group Inc. raised its position in InnerWorkings, Inc. (NASDAQ:INWK) by 5.2% during the first quarter, Holdings Channel reports. The fund owned 3,509,465 shares of the business services provider’s stock after buying an additional 173,364 shares during the period. Vanguard Group Inc. owned about 0.06% of InnerWorkings worth $34,955,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Prudential Financial Inc. acquired a new stake in InnerWorkings during the first quarter worth $127,000. Round Table Services LLC boosted its stake in InnerWorkings by 20.0% in the first quarter. Round Table Services LLC now owns 13,056 shares of the business services provider’s stock worth $130,000 after buying an additional 2,180 shares during the last quarter. Alliancebernstein L.P. boosted its stake in InnerWorkings by 11.8% in the first quarter. Alliancebernstein L.P. now owns 17,000 shares of the business services provider’s stock worth $169,000 after buying an additional 1,800 shares during the last quarter. Highbridge Capital Management LLC acquired a new stake in InnerWorkings during the fourth quarter worth $186,000. Finally, Nine Chapters Capital Management LLC acquired a new stake in InnerWorkings during the first quarter worth $207,000. 77.54% of the stock is owned by hedge funds and other institutional investors.

Shares of InnerWorkings, Inc. (INWK) traded down 0.93% during trading on Tuesday, reaching $10.66. The company had a trading volume of 16,613 shares. InnerWorkings, Inc. has a 1-year low of $8.07 and a 1-year high of $11.94. The firm has a 50-day moving average of $11.46 and a 200 day moving average of $10.53. The firm has a market capitalization of $570.49 million, a PE ratio of 30.99 and a beta of 1.59.

InnerWorkings (NASDAQ:INWK) last posted its quarterly 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. The business had revenue of $279.53 million during the quarter, compared to analyst estimates of $282.62 million. InnerWorkings had a net margin of 1.76% and a return on equity of 8.84%. The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.11 EPS. Analysts expect that InnerWorkings, Inc. will post $0.48 earnings per share for the current year.

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A number of analysts have recently weighed in on the company. Wunderlich reissued a “buy” rating and issued a $15.00 price objective on shares of InnerWorkings in a research report on Friday, June 30th. Zacks Investment Research lowered InnerWorkings from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. Barrington Research raised their target price on InnerWorkings from $12.00 to $13.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 10th. Finally, BidaskClub lowered InnerWorkings from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. Two research analysts have rated the stock with a sell rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $13.33.

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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Institutional Ownership by Quarter for InnerWorkings (NASDAQ:INWK)

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