Smith Asset Management Group LP increased its position in shares of INC Research Holdings Inc. (NASDAQ:INCR) by 3.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,805 shares of the company’s stock after buying an additional 2,248 shares during the period. Smith Asset Management Group LP’s holdings in INC Research Holdings were worth $2,395,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. NN Investment Partners Holdings N.V. raised its stake in shares of INC Research Holdings by 10.3% in the second quarter. NN Investment Partners Holdings N.V. now owns 16,450 shares of the company’s stock worth $627,000 after buying an additional 1,540 shares during the last quarter. Legal & General Group Plc raised its stake in shares of 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 last quarter. Springbok Capital Management LLC raised its stake in shares of 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 last quarter. Acrospire Investment Management LLC bought a new stake in shares of INC Research Holdings during the first quarter worth $117,000. Finally, Americafirst Capital Management LLC raised its stake in shares of INC Research Holdings by 8.6% in the second quarter. Americafirst Capital Management LLC now owns 39,835 shares of the company’s stock worth $1,519,000 after buying an additional 3,150 shares during the last quarter. Institutional investors own 91.27% of the company’s stock.
Shares of INC Research Holdings Inc. (NASDAQ:INCR) traded up 1.205% on Friday, hitting $44.935. 523,453 shares of the stock were exchanged. The stock has a market cap of $2.46 billion, a PE ratio of 22.157 and a beta of 1.80. The company’s 50 day moving average is $44.30 and its 200-day moving average is $43.29. INC Research Holdings Inc. has a 52-week low of $34.19 and a 52-week high of $57.11.
INC Research Holdings (NASDAQ:INCR) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.03. INC Research Holdings had a net margin of 7.43% and a return on equity of 46.76%. The firm earned $258.80 million during the quarter, compared to analyst estimates of $252.39 million. During the same quarter in the prior year, the firm posted $0.47 earnings per share. INC Research Holdings’s quarterly revenue was up 13.8% on a year-over-year basis. Analysts predict that INC Research Holdings Inc. will post $2.47 EPS for the current fiscal year.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of INC Research Holdings from a “buy” rating to a “hold” rating in a report on Friday, August 5th. Jefferies Group decreased their price objective on shares of INC Research Holdings from $56.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, August 17th. Credit Suisse Group AG initiated coverage on shares of INC Research Holdings in a report on Monday, June 20th. They set an “outperform” rating and a $51.00 price objective for the company. Finally, Goldman Sachs Group Inc. boosted their price target on shares of INC Research Holdings from $60.00 to $62.00 and gave the company a “buy” rating in a report on Friday, August 12th. Three equities 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 company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price 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 stock was bought at an average price of $43.19 per share, with a total value of $43,190.00. Following the completion of the purchase, the director now directly owns 36,065 shares in the company, valued at approximately $1,557,647.35. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Teachers Pension Plan Ontario sold 2,445,591 shares of the stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $42.06, for a total transaction of $102,861,557.46. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.
About INC Research Holdings
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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