Rice Hall James & Associates LLC acquired a new position in shares of InnerWorkings, Inc. (NASDAQ:INWK) during the second quarter, Holdings Channel reports. The firm acquired 145,578 shares of the business services provider’s stock, valued at approximately $1,689,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its position in InnerWorkings by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 4,603,057 shares of the business services provider’s stock worth $45,846,000 after buying an additional 26,438 shares during the period. Vanguard Group Inc. increased its stake in shares of InnerWorkings by 5.2% in the first quarter. Vanguard Group Inc. now owns 3,509,465 shares of the business services provider’s stock valued at $34,955,000 after buying an additional 173,364 shares in the last quarter. AMI Asset Management Corp increased its stake in shares of InnerWorkings by 2.9% in the second quarter. AMI Asset Management Corp now owns 1,178,285 shares of the business services provider’s stock valued at $13,668,000 after buying an additional 33,274 shares in the last quarter. Eagle Boston Investment Management Inc. increased its stake in shares of InnerWorkings by 5.7% in the first quarter. Eagle Boston Investment Management Inc. now owns 1,074,509 shares of the business services provider’s stock valued at $10,702,000 after buying an additional 57,588 shares in the last quarter. Finally, Kennedy Capital Management Inc. increased its stake in shares of InnerWorkings by 4.5% in the first quarter. Kennedy Capital Management Inc. now owns 744,494 shares of the business services provider’s stock valued at $7,415,000 after buying an additional 32,325 shares in the last quarter. 77.54% of the stock is currently owned by hedge funds and other institutional investors.

Shares of InnerWorkings, Inc. (NASDAQ:INWK) opened at 10.35 on Wednesday. The stock has a market cap of $553.90 million, a P/E ratio of 30.09 and a beta of 1.59. InnerWorkings, Inc. has a one year low of $8.07 and a one year high of $11.94. The stock has a 50 day moving average of $11.42 and a 200 day moving average of $10.54.

InnerWorkings (NASDAQ:INWK) last announced its earnings results on Monday, August 7th. The business services provider reported $0.12 EPS for the quarter, beating the Zacks’ 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 for the quarter, compared to analysts’ expectations of $282.62 million. During the same quarter in the previous year, the business posted $0.11 EPS. The company’s quarterly revenue was up 3.8% on a year-over-year basis. On average, analysts forecast that InnerWorkings, Inc. will post $0.48 EPS for the current year.

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Several analysts have recently commented on INWK shares. Zacks Investment Research upgraded shares of InnerWorkings from a “hold” rating to a “strong-buy” rating and set a $12.00 target price for the company in a report on Wednesday, April 26th. Barrington Research increased their target price on shares of InnerWorkings from $12.00 to $13.00 and gave the company an “outperform” rating in a report on Wednesday, May 10th. BidaskClub downgraded shares of InnerWorkings from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, Wunderlich reiterated a “buy” rating and issued a $15.00 target price on shares of InnerWorkings in a report on Friday, June 30th. Two equities research analysts have rated the stock with a sell rating and two have assigned a buy rating to the company. InnerWorkings presently has an average rating of “Hold” and a consensus price target of $13.33.

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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Institutional Ownership by Quarter for InnerWorkings (NASDAQ:INWK)

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