Royce & Associates LP continued to hold its stake in shares of InnerWorkings, Inc. (NASDAQ:INWK) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,000 shares of the business services provider’s stock at the end of the 2nd quarter. Royce & Associates LP’s holdings in InnerWorkings were worth $290,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Legal & General Group Plc lifted its position in InnerWorkings by 10.4% in the 2nd quarter. Legal & General Group Plc now owns 10,713 shares of the business services provider’s stock valued at $124,000 after purchasing an additional 1,007 shares during the last quarter. Prudential Financial Inc. bought a new stake in InnerWorkings in the 1st quarter valued at about $127,000. Campbell & CO Investment Adviser LLC bought a new stake in InnerWorkings in the 2nd quarter valued at about $194,000. Alliancebernstein L.P. lifted its position in InnerWorkings by 11.8% in the 1st quarter. Alliancebernstein L.P. now owns 17,000 shares of the business services provider’s stock valued at $169,000 after purchasing an additional 1,800 shares during the last quarter. Finally, American International Group Inc. lifted its position in InnerWorkings by 7.0% in the 1st quarter. American International Group Inc. now owns 23,658 shares of the business services provider’s stock valued at $236,000 after purchasing an additional 1,558 shares during the last quarter. Hedge funds and other institutional investors own 78.82% of the company’s stock.
InnerWorkings, Inc. (NASDAQ INWK) opened at 11.07 on Tuesday. The firm’s 50-day moving average is $10.78 and its 200 day moving average is $10.69. The firm has a market cap of $592.43 million, a PE ratio of 32.18 and a beta of 1.62. InnerWorkings, Inc. has a 1-year low of $8.07 and a 1-year high of $11.94.
InnerWorkings (NASDAQ:INWK) last issued its quarterly earnings results on Monday, August 7th. The business services provider reported $0.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.01. The business had revenue of $279.53 million for the quarter, compared to the consensus estimate of $282.62 million. InnerWorkings had a net margin of 1.76% and a return on equity of 8.84%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.11 EPS. On average, equities analysts forecast that InnerWorkings, Inc. will post $0.48 earnings per share for the current fiscal year.
INWK has been the topic of several research analyst reports. Zacks Investment Research raised shares of InnerWorkings from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research note on Tuesday, May 30th. Wunderlich reissued a “buy” rating and set a $15.00 target price on shares of InnerWorkings in a research note on Friday, June 30th. Finally, BidaskClub cut shares of InnerWorkings from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. InnerWorkings currently has a consensus rating of “Hold” and a consensus price target of $13.33.
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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