InnerWorkings, Inc. (INWK) Position Decreased by US Bancorp DE
US Bancorp DE reduced its position in shares of InnerWorkings, Inc. (NASDAQ:INWK) by 6.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 86,119 shares of the business services provider’s stock after selling 6,100 shares during the period. US Bancorp DE’s holdings in InnerWorkings were worth $1,000,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. TFS Capital LLC bought a new position in InnerWorkings during the first quarter worth approximately $360,000. Highbridge Capital Management LLC purchased a new stake in InnerWorkings during the fourth quarter valued at approximately $186,000. Guggenheim Capital LLC purchased a new stake in InnerWorkings during the fourth quarter valued at approximately $348,000. Norges Bank purchased a new stake in InnerWorkings during the fourth quarter valued at approximately $700,000. Finally, State Street Corp boosted its stake in InnerWorkings by 5.4% in the fourth quarter. State Street Corp now owns 645,168 shares of the business services provider’s stock valued at $6,356,000 after buying an additional 33,138 shares during the period. 80.56% of the stock is currently owned by hedge funds and other institutional investors.
Shares of InnerWorkings, Inc. (INWK) traded up 0.14% on Thursday, reaching $10.63. 133,305 shares of the company’s stock were exchanged. The firm’s 50 day moving average price is $11.52 and its 200-day moving average price is $10.51. The company has a market capitalization of $568.89 million, a P/E ratio of 30.90 and a beta of 1.59. InnerWorkings, Inc. has a 12 month low of $8.07 and a 12 month high of $11.94.
InnerWorkings (NASDAQ:INWK) last released its quarterly earnings data on Monday, August 7th. The business services provider reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. InnerWorkings had a return on equity of 8.84% and a net margin of 1.76%. The firm had revenue of $279.53 million for the quarter, compared to the consensus estimate of $282.62 million. During the same quarter in the prior year, the company posted $0.11 earnings per share. The firm’s revenue was up 3.8% on a year-over-year basis. On average, equities analysts anticipate that InnerWorkings, Inc. will post $0.48 EPS for the current year.
Several brokerages recently commented on INWK. Zacks Investment Research upgraded shares of InnerWorkings from a “hold” rating to a “strong-buy” rating and set a $12.00 price objective for the company in a research note on Wednesday, April 26th. Barrington Research raised 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. Finally, Wunderlich reiterated a “buy” rating and set a $15.00 price target on shares of InnerWorkings in a report on Friday, June 30th. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. The stock 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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