Rice Hall James & Associates LLC Acquires Shares of 373,089 INC Research Holdings Inc. (INCR)
Rice Hall James & Associates LLC acquired a new position in shares of INC Research Holdings Inc. (NASDAQ:INCR) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 373,089 shares of the company’s stock, valued at approximately $14,226,000. Rice Hall James & Associates LLC owned 0.69% of INC Research Holdings as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Acrospire Investment Management LLC acquired a new position in INC Research Holdings during the first quarter worth $117,000. Pacad Investment Ltd. acquired a new position in INC Research Holdings during the first quarter worth $218,000. Legal & General Group Plc raised its position in INC Research Holdings by 42.3% in the first quarter. Legal & General Group Plc now owns 6,296 shares of the company’s stock worth $260,000 after buying an additional 1,873 shares during the period. Springbok Capital Management LLC raised its position in INC Research Holdings by 54.0% in the first quarter. Springbok Capital Management LLC now owns 7,130 shares of the company’s stock worth $294,000 after buying an additional 2,499 shares during the period. Finally, Glenmede Trust Co. NA acquired a new position in INC Research Holdings during the first quarter worth $465,000. 91.27% of the stock is currently owned by hedge funds and other institutional investors.
Shares of INC Research Holdings Inc. (NASDAQ:INCR) traded up 0.47% during mid-day trading on Tuesday, reaching $45.16. 383,142 shares of the company’s stock traded hands. INC Research Holdings Inc. has a 12-month low of $34.19 and a 12-month high of $57.11. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 22.27 and a beta of 1.80. The firm’s 50 day moving average price is $44.18 and its 200-day moving average price is $43.47.
INC Research Holdings (NASDAQ:INCR) last released its earnings results on Thursday, July 28th. The company reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.03. The firm had revenue of $258.80 million for the quarter, compared to the consensus estimate of $252.39 million. INC Research Holdings had a net margin of 7.43% and a return on equity of 46.76%. The company’s revenue was up 13.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.47 EPS. Equities research analysts forecast that INC Research Holdings Inc. will post $2.47 earnings per share for the current year.
A number of research analysts recently weighed in on INCR shares. Jefferies Group reissued a “buy” rating on shares of INC Research Holdings in a research report on Friday, June 10th. Zacks Investment Research lowered shares of INC Research Holdings from a “hold” rating to a “sell” rating in a research report on Wednesday, July 6th. Goldman Sachs Group Inc. raised their price target on shares of INC Research Holdings from $60.00 to $62.00 and gave the company a “buy” rating in a research report on Friday, August 12th. Finally, Credit Suisse Group AG started coverage on shares of INC Research Holdings in a research report on Monday, June 20th. They set an “outperform” rating and a $51.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $55.00.
In related news, COO Alistair Macdonald sold 9,468 shares of the stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $40.19, for a total transaction of $380,518.92. Following the sale, the chief operating officer now directly owns 28,144 shares of the company’s stock, valued at approximately $1,131,107.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David F. Burgstahler acquired 1,000 shares of the business’s stock in a transaction that occurred on Monday, September 19th. The shares were purchased at an average cost of $43.19 per share, for a total transaction of $43,190.00. Following the completion of the transaction, the director now directly owns 36,065 shares in the company, valued at approximately $1,557,647.35. The disclosure for this purchase can be found here. Corporate insiders own 1.70% of the company’s stock.
INC Research Holdings Company Profile
INC Research Holdings, Inc is a global contract research organization (CRO). The Company is focused on Phase I to Phase IV clinical development services for the biopharmaceutical and medical device industries. The Company operates through two segments: Clinical Development Services and Phase I Services.
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