InnerWorkings (NASDAQ:INWK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday. The firm currently has a $11.00 price target on the business services provider’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 7.32% from the company’s previous close.

According to Zacks, “InnerWorkings, Inc. is a marketing execution company. Its software applications and databases create an integrated solution which stores, analyzes and tracks the production capabilities of its supplier network as well as detailed pricing data. The company primarily serves retail, financial services, hospitality, consumer packaged goods, non-profits, healthcare, pharmaceuticals, food and beverage, broadcasting and cable and transportation sectors. InnerWorkings, Inc. is based in CHICAGO, United States. “

Other equities analysts have also recently issued research reports about the company. Dougherty & Co initiated coverage on InnerWorkings in a report on Tuesday, October 31st. They issued a “buy” rating and a $14.00 price objective for the company. Lake Street Capital initiated coverage on InnerWorkings in a report on Monday, October 2nd. They issued a “buy” rating and a $14.00 price objective for the company. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $13.40.

Shares of InnerWorkings (NASDAQ:INWK) traded up $0.13 during midday trading on Friday, hitting $10.25. The stock had a trading volume of 160,567 shares, compared to its average volume of 225,482. The company has a market cap of $554.75, a PE ratio of 25.00, a price-to-earnings-growth ratio of 1.33 and a beta of 1.68. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.86 and a quick ratio of 1.63. InnerWorkings has a 12 month low of $9.08 and a 12 month high of $12.03.

InnerWorkings (NASDAQ:INWK) last announced its quarterly earnings data on Tuesday, November 7th. The business services provider reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.02. The company had revenue of $288.40 million during the quarter, compared to analysts’ expectations of $289.82 million. InnerWorkings had a return on equity of 9.53% and a net margin of 2.04%. InnerWorkings’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.11 EPS. sell-side analysts anticipate that InnerWorkings will post 0.49 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Stifel Financial Corp bought a new position in InnerWorkings during the second quarter worth about $7,623,000. Renaissance Technologies LLC grew its holdings in InnerWorkings by 75.2% during the second quarter. Renaissance Technologies LLC now owns 1,055,500 shares of the business services provider’s stock worth $12,244,000 after purchasing an additional 453,200 shares during the period. American Century Companies Inc. grew its holdings in InnerWorkings by 31.4% during the third quarter. American Century Companies Inc. now owns 1,377,614 shares of the business services provider’s stock worth $15,498,000 after purchasing an additional 329,304 shares during the period. Mutual of America Capital Management LLC bought a new position in InnerWorkings during the third quarter worth about $2,784,000. Finally, Vanguard Group Inc. grew its holdings in InnerWorkings by 4.6% during the second quarter. Vanguard Group Inc. now owns 3,669,795 shares of the business services provider’s stock worth $42,570,000 after purchasing an additional 160,330 shares during the period. Institutional investors own 80.80% of the company’s stock.

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InnerWorkings Company 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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