Cardinal Capital Management continued to hold its position in shares of INC Research Holdings Inc. (NASDAQ:INCR) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,568 shares of the company’s stock at the end of the second quarter. Cardinal Capital Management’s holdings in INC Research Holdings were worth $479,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rice Hall James & Associates LLC acquired a new position in shares of INC Research Holdings during the second quarter valued at $14,226,000. Underhill Investment Management LLC increased its position in shares of INC Research Holdings by 51.4% in the second quarter. Underhill Investment Management LLC now owns 277,100 shares of the company’s stock valued at $10,566,000 after buying an additional 94,050 shares during the last quarter. Strs Ohio increased its position in shares of INC Research Holdings by 62.8% in the second quarter. Strs Ohio now owns 28,000 shares of the company’s stock valued at $1,067,000 after buying an additional 10,800 shares during the last quarter. Smith Asset Management Group LP increased its position in shares of INC Research Holdings by 3.7% in the second quarter. Smith Asset Management Group LP now owns 62,805 shares of the company’s stock valued at $2,395,000 after buying an additional 2,248 shares during the last quarter. Finally, Bank of Montreal Can acquired a new position in shares of INC Research Holdings during the second quarter valued at $3,350,000. 91.27% of the stock is owned by institutional investors.
INC Research Holdings Inc. (NASDAQ:INCR) traded up 0.47% on Tuesday, reaching $45.16. The company had a trading volume of 383,142 shares. The company has a market capitalization of $2.47 billion, a PE ratio of 22.27 and a beta of 1.80. INC Research Holdings Inc. has a 52-week low of $34.19 and a 52-week high of $57.11. The company’s 50-day moving average is $44.18 and its 200-day moving average is $43.47.
INC Research Holdings (NASDAQ:INCR) last announced its earnings results on Thursday, July 28th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.03. INC Research Holdings had a return on equity of 46.76% and a net margin of 7.43%. The company had revenue of $258.80 million for the quarter, compared to the consensus estimate of $252.39 million. During the same period last year, the business posted $0.47 EPS. The company’s revenue was up 13.8% on a year-over-year basis. Equities analysts anticipate that INC Research Holdings Inc. will post $2.47 EPS for the current fiscal year.
INCR has been the subject of several research analyst reports. Jefferies Group reaffirmed a “buy” rating on shares of INC Research Holdings in a research note on Friday, June 10th. Credit Suisse Group AG initiated coverage on INC Research Holdings in a research note on Monday, June 20th. They set an “outperform” rating and a $51.00 target price for the company. Zacks Investment Research downgraded INC Research Holdings from a “hold” rating to a “sell” rating in a research note on Wednesday, July 6th. Finally, Goldman Sachs Group Inc. upped their target price on INC Research Holdings from $60.00 to $62.00 and gave the stock a “buy” rating in a research note on Friday, August 12th. Three research 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 stock. The stock currently has a consensus rating of “Buy” and an average price target of $55.00.
In related news, Director David F. Burgstahler bought 1,000 shares of the stock in a transaction on Monday, September 19th. The shares were bought at an average cost of $43.19 per share, for a total transaction of $43,190.00. Following the purchase, the director now owns 36,065 shares of the company’s stock, valued at approximately $1,557,647.35. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Alistair Macdonald sold 9,468 shares of INC Research Holdings stock in a transaction that occurred on Monday, July 11th. The shares were sold at an average price of $40.19, for a total value of $380,518.92. Following the completion of the transaction, the chief operating officer now owns 28,144 shares in the company, valued at $1,131,107.36. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.
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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