BidaskClub downgraded shares of InnerWorkings, Inc. (NASDAQ:INWK) from a buy rating to a hold rating in a report released on Tuesday morning.

Other research analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of InnerWorkings from a hold rating to a buy rating and set a $12.00 target price for the company in a research note on Friday, June 16th. Wunderlich began coverage on shares of InnerWorkings in a research note on Thursday, April 6th. They issued a buy rating and a $12.00 target price for the company. Finally, Barrington Research upped their target price on shares of InnerWorkings from $12.00 to $13.00 and gave the company an outperform rating in a research note on Wednesday, May 10th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $13.33.

Shares of InnerWorkings (NASDAQ INWK) traded down 0.17% during midday trading on Tuesday, reaching $11.57. 83,533 shares of the company traded hands. The company has a 50 day moving average of $11.36 and a 200 day moving average of $10.42. The firm has a market capitalization of $614.59 million, a P/E ratio of 50.75 and a beta of 1.59. InnerWorkings has a 12 month low of $8.07 and a 12 month high of $11.94.

InnerWorkings (NASDAQ:INWK) last announced its earnings results on Monday, May 8th. The business services provider reported $0.08 earnings per share for the quarter, meeting the consensus estimate of $0.08. The business had revenue of $267.40 million during the quarter, compared to the consensus estimate of $277.43 million. InnerWorkings had a net margin of 1.15% and a return on equity of 8.72%. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.06 earnings per share. On average, equities research analysts predict that InnerWorkings will post $0.49 earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently bought and sold shares of INWK. Prudential Financial Inc. bought a new position in InnerWorkings during the first quarter worth approximately $127,000. Round Table Services LLC increased its position 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 period. Alliancebernstein L.P. increased its position 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 period. Highbridge Capital Management LLC bought a new position in InnerWorkings during the fourth quarter worth approximately $186,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in InnerWorkings during the second quarter worth approximately $194,000. Hedge funds and other institutional investors own 80.68% of the company’s stock.

InnerWorkings Company 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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