InnerWorkings Inc. (INWK) Sets New 1-Year High at $8.89
InnerWorkings Inc. (NASDAQ:INWK) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $8.89 and last traded at $8.85, with a volume of 87,465 shares. The stock had previously closed at $8.62.
Separately, Zacks Investment Research upgraded InnerWorkings from a “hold” rating to a “buy” rating and set a $9.50 price objective on the stock in a report on Wednesday, May 11th.
The stock’s market cap is $470.83 million. The stock has a 50 day moving average of $8.31 and a 200-day moving average of $7.65.
InnerWorkings (NASDAQ:INWK) last announced its quarterly earnings results on Monday, May 9th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. During the same period last year, the firm earned $0.03 earnings per share. The company earned $271.10 million during the quarter, compared to analysts’ expectations of $248.54 million. InnerWorkings’s revenue was up 12.0% on a year-over-year basis. On average, equities analysts anticipate that InnerWorkings Inc. will post $0.32 earnings per share for the current year.
A number of large investors recently made changes to their positions in the stock. I.G. Investment Management LTD. boosted its stake in shares of InnerWorkings by 4.4% in the fourth quarter. I.G. Investment Management LTD. now owns 162,158 shares of the company’s stock worth $1,216,000 after buying an additional 6,904 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of InnerWorkings by 12.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,491,215 shares of the company’s stock worth $11,184,000 after buying an additional 161,457 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of InnerWorkings by 39.7% in the fourth quarter. American Century Companies Inc. now owns 1,557,005 shares of the company’s stock worth $11,678,000 after buying an additional 442,374 shares during the period.
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 operates through three segments: North America, Latin America and EMEA.
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