Shares of InnerWorkings Inc. (NASDAQ:INWK) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $9.14 and last traded at $9.07, with a volume of 58,106 shares changing hands. The stock had previously closed at $9.01.

Separately, Zacks Investment Research upgraded shares of InnerWorkings from a “hold” rating to a “buy” rating and set a $9.50 target price on the stock in a research report on Wednesday, May 11th.

The company’s 50-day moving average is $8.42 and its 200 day moving average is $7.72. The stock’s market cap is $473.50 million.

InnerWorkings (NASDAQ:INWK) last released its quarterly earnings results on Monday, May 9th. The company reported $0.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.03. During the same quarter in the prior year, the business posted $0.03 EPS. The firm had revenue of $271.10 million for the quarter, compared to analyst estimates of $248.54 million. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. Analysts predict that InnerWorkings Inc. will post $0.32 earnings per share for the current fiscal year.

An institutional investor recently raised its position in InnerWorkings stock. I.G. Investment Management LTD. increased its stake in shares of InnerWorkings Inc. (NASDAQ:INWK) by 4.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 162,158 shares of the company’s stock after buying an additional 6,904 shares during the period. I.G. Investment Management LTD. owned 0.31% of InnerWorkings worth $1,216,000 as of its most recent SEC filing.

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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