First Trust Advisors LP lessened its holdings in INC Research Holdings, Inc. (NASDAQ:INCR) by 14.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 59,313 shares of the company’s stock after selling 9,831 shares during the quarter. First Trust Advisors LP owned 0.11% of INC Research Holdings worth $3,470,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of INCR. BlackRock Inc. raised its position in INC Research Holdings by 40,517.6% in the 1st quarter. BlackRock Inc. now owns 3,544,294 shares of the company’s stock worth $162,506,000 after purchasing an additional 3,535,568 shares during the period. MARSHALL WACE ASIA Ltd purchased a new position in INC Research Holdings in the 1st quarter worth $37,634,000. Marshall Wace North America L.P. purchased a new position in INC Research Holdings in the 1st quarter worth $37,634,000. Redmile Group LLC purchased a new position in INC Research Holdings in the 1st quarter worth $29,059,000. Finally, Mackenzie Financial Corp raised its position in INC Research Holdings by 93.1% in the 1st quarter. Mackenzie Financial Corp now owns 1,196,849 shares of the company’s stock worth $54,876,000 after purchasing an additional 577,034 shares during the period. Institutional investors own 98.70% of the company’s stock.

A number of equities analysts recently commented on INCR shares. Robert W. Baird upgraded shares of INC Research Holdings from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $46.00 to $66.00 in a research report on Thursday, May 11th. Jefferies Group LLC reiterated a “buy” rating on shares of INC Research Holdings in a research report on Thursday, May 11th. Zacks Investment Research cut shares of INC Research Holdings from a “hold” rating to a “sell” rating in a research report on Tuesday, May 16th. SunTrust Banks, Inc. upgraded shares of INC Research Holdings from a “hold” rating to a “buy” rating and lifted their target price for the stock from $48.00 to $67.00 in a research report on Wednesday, May 31st. Finally, KeyCorp upgraded shares of INC Research Holdings from a “sector weight” rating to an “overweight” rating and set a $68.00 target price on the stock in a research report on Monday, June 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $63.79.

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In other news, CEO Alistair Macdonald sold 10,555 shares of the stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $58.38, for a total value of $616,200.90. Following the sale, the chief executive officer now owns 83,935 shares of the company’s stock, valued at $4,900,125.30. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Christopher L. Gaenzle sold 6,873 shares of the stock in a transaction on Friday, June 30th. The shares were sold at an average price of $58.32, for a total transaction of $400,833.36. Following the completion of the sale, the chief accounting officer now directly owns 47,450 shares in the company, valued at approximately $2,767,284. The disclosure for this sale can be found here. In the last three months, insiders sold 67,676 shares of company stock worth $3,921,442. Insiders own 0.24% of the company’s stock.

INC Research Holdings, Inc. (NASDAQ:INCR) opened at 59.05 on Tuesday. The stock has a market cap of $3.20 billion, a PE ratio of 36.18 and a beta of 1.41. INC Research Holdings, Inc. has a 52-week low of $40.65 and a 52-week high of $61.10. The firm has a 50 day moving average of $56.44 and a 200-day moving average of $52.39.

INC Research Holdings (NASDAQ:INCR) last announced its earnings results on Thursday, July 27th. The company reported $0.64 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.64. INC Research Holdings had a net margin of 5.69% and a return on equity of 40.69%. The business had revenue of $258.10 million for the quarter, compared to the consensus estimate of $256.76 million. During the same quarter in the prior year, the firm posted $0.61 earnings per share. The business’s revenue for the quarter was down .3% on a year-over-year basis. Equities analysts anticipate that INC Research Holdings, Inc. will post $2.63 earnings per share for the current fiscal year.

About INC Research Holdings

INC Research Holdings, Inc is a global contract research organization (CRO). The Company focuses 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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Institutional Ownership by Quarter for INC Research Holdings (NASDAQ:INCR)

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