InnerWorkings (INWK) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of InnerWorkings (NASDAQ:INWK) from a hold rating to a buy rating in a research report sent to investors on Friday. They currently have $11.00 target price on the business services provider’s stock.

According to Zacks, “InnerWorkings, Inc. is a marketing execution company. Its software applications and databases create an integrated solution which stores, analyzes and tracks the production capabilities of its supplier network as well as detailed pricing data. The company primarily serves retail, financial services, hospitality, consumer packaged goods, non-profits, healthcare, pharmaceuticals, food and beverage, broadcasting and cable and transportation sectors. InnerWorkings, Inc. is based in CHICAGO, United States. “

Several other research analysts have also recently commented on INWK. Lake Street Capital started coverage on InnerWorkings in a research note on Monday, October 2nd. They set a buy rating and a $14.00 target price for the company. Dougherty & Co started coverage on InnerWorkings in a research note on Tuesday, October 31st. They set a buy rating and a $14.00 target price for the company. One research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $13.40.

InnerWorkings (NASDAQ:INWK) opened at $10.25 on Friday. InnerWorkings has a one year low of $9.08 and a one year high of $12.03. The company has a market capitalization of $554.75, a price-to-earnings ratio of 25.00, a P/E/G ratio of 1.33 and a beta of 1.68. The company has a current ratio of 1.86, a quick ratio of 1.63 and a debt-to-equity ratio of 0.51.

InnerWorkings (NASDAQ:INWK) last released its earnings results on Tuesday, November 7th. The business services provider reported $0.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.02. InnerWorkings had a return on equity of 9.53% and a net margin of 2.04%. The firm had revenue of $288.40 million during the quarter, compared to analysts’ expectations of $289.82 million. During the same period in the previous year, the firm posted $0.11 EPS. InnerWorkings’s revenue for the quarter was up 3.0% on a year-over-year basis. analysts anticipate that InnerWorkings will post 0.49 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. lifted its holdings in InnerWorkings by 12.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 168,482 shares of the business services provider’s stock worth $1,955,000 after buying an additional 19,231 shares during the last quarter. Rhumbline Advisers lifted its holdings in InnerWorkings by 13.6% during the 2nd quarter. Rhumbline Advisers now owns 54,806 shares of the business services provider’s stock worth $636,000 after buying an additional 6,541 shares during the last quarter. Legal & General Group Plc lifted its holdings in InnerWorkings by 10.4% during the 2nd quarter. Legal & General Group Plc now owns 10,713 shares of the business services provider’s stock worth $124,000 after buying an additional 1,007 shares during the last quarter. Prudential Financial Inc. lifted its holdings in InnerWorkings by 6.8% during the 2nd quarter. Prudential Financial Inc. now owns 13,593 shares of the business services provider’s stock worth $158,000 after buying an additional 860 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in InnerWorkings by 21.6% during the 2nd quarter. Swiss National Bank now owns 82,200 shares of the business services provider’s stock worth $954,000 after buying an additional 14,600 shares during the last quarter. 80.80% of the stock is owned by hedge funds and other institutional investors.

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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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