Bank of New York Mellon Corp raised its position in InnerWorkings, Inc. (NASDAQ:INWK) by 7.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 210,916 shares of the business services provider’s stock after acquiring an additional 14,658 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.39% of InnerWorkings worth $2,117,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Teacher Retirement System of Texas bought a new position in shares of InnerWorkings in the fourth quarter worth about $167,000. JPMorgan Chase & Co. raised its stake in shares of InnerWorkings by 464.7% in the third quarter. JPMorgan Chase & Co. now owns 17,974 shares of the business services provider’s stock worth $205,000 after buying an additional 14,791 shares during the period. Wells Fargo & Company MN raised its stake in shares of InnerWorkings by 80.2% in the third quarter. Wells Fargo & Company MN now owns 60,560 shares of the business services provider’s stock worth $681,000 after buying an additional 26,960 shares during the period. New York State Common Retirement Fund raised its stake in shares of InnerWorkings by 116.2% in the third quarter. New York State Common Retirement Fund now owns 104,637 shares of the business services provider’s stock worth $1,177,000 after buying an additional 56,237 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of InnerWorkings by 5.1% in the third quarter. Schwab Charles Investment Management Inc. now owns 177,046 shares of the business services provider’s stock worth $1,992,000 after buying an additional 8,564 shares during the period. 81.91% of the stock is currently owned by institutional investors.

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NASDAQ INWK opened at $9.70 on Tuesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.67 and a current ratio of 1.84. InnerWorkings, Inc. has a 52 week low of $8.19 and a 52 week high of $12.03. The stock has a market capitalization of $508.00, a PE ratio of 23.66, a P/E/G ratio of 1.23 and a beta of 1.62.

InnerWorkings (NASDAQ:INWK) last released its earnings results on Monday, March 12th. The business services provider reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.08). InnerWorkings had a return on equity of 8.01% and a net margin of 1.67%. The business had revenue of $301.00 million for the quarter, compared to analysts’ expectations of $304.90 million. During the same quarter in the prior year, the business posted $0.12 EPS. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. equities analysts predict that InnerWorkings, Inc. will post 0.57 EPS for the current fiscal year.

Several research analysts have recently commented on INWK shares. BidaskClub raised InnerWorkings from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 7th. Lake Street Capital reaffirmed a “buy” rating and issued a $13.00 price objective (down previously from $14.00) on shares of InnerWorkings in a research note on Tuesday, March 13th. Zacks Investment Research raised InnerWorkings from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research note on Friday, January 12th. Finally, ValuEngine downgraded InnerWorkings from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd. Three research analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. InnerWorkings has an average rating of “Hold” and a consensus price target of $13.20.

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InnerWorkings 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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Institutional Ownership by Quarter for InnerWorkings (NASDAQ:INWK)

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