Dynamic Technology Lab Private Ltd purchased a new stake in shares of INC Research Holdings Inc. (NASDAQ:INCR) during the second quarter, Holdings Channel reports. The firm purchased 8,330 shares of the company’s stock, valued at approximately $318,000.
Several other institutional investors have also recently modified their holdings of INCR. Menta Capital LLC acquired a new stake in INC Research Holdings during the first quarter worth approximately $760,000. Palisade Capital Management LLC NJ increased its position in INC Research Holdings by 113.3% in the first quarter. Palisade Capital Management LLC NJ now owns 306,029 shares of the company’s stock worth $12,611,000 after buying an additional 162,527 shares during the last quarter. TimesSquare Capital Management LLC increased its position in INC Research Holdings by 23.0% in the first quarter. TimesSquare Capital Management LLC now owns 1,519,250 shares of the company’s stock worth $62,608,000 after buying an additional 284,300 shares during the last quarter. NN Investment Partners Holdings N.V. purchased a new position in INC Research Holdings during the first quarter worth about $614,000. Finally, Acrospire Investment Management LLC purchased a new position in INC Research Holdings during the first quarter worth about $117,000. 91.27% of the stock is currently owned by institutional investors and hedge funds.
Shares of INC Research Holdings Inc. (NASDAQ:INCR) traded up 1.12% during trading on Thursday, reaching $45.10. The company’s stock had a trading volume of 73,826 shares. The stock has a market cap of $2.47 billion, a P/E ratio of 22.24 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 stock has a 50-day moving average of $44.22 and a 200-day moving average of $43.37.
INC Research Holdings (NASDAQ:INCR) last released its earnings results on Thursday, July 28th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.03. The company earned $258.80 million during the quarter, compared to analyst estimates of $252.39 million. INC Research Holdings had a return on equity of 46.76% and a net margin of 7.43%. INC Research Holdings’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.47 earnings per share. Analysts predict that INC Research Holdings Inc. will post $2.47 earnings per share for the current fiscal year.
A number of research analysts recently issued reports on INCR shares. Zacks Investment Research upgraded INC Research Holdings from a “sell” rating to a “buy” rating and set a $48.00 price objective for the company in a report on Tuesday, August 2nd. Jefferies Group reiterated a “buy” rating on shares of INC Research Holdings in a report on Friday, June 10th. Goldman Sachs Group Inc. increased their price objective on INC Research Holdings from $60.00 to $62.00 and gave the stock a “buy” rating in a report on Friday, August 12th. Finally, Credit Suisse Group AG assumed coverage on INC Research Holdings in a research note on Monday, June 20th. They issued an “outperform” rating and a $51.00 price target for the company. 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 stock. The stock currently has an average rating of “Buy” and a consensus target price of $55.00.
In other INC Research Holdings news, CAO Christopher L. Gaenzle sold 4,734 shares of the stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $43.14, for a total transaction of $204,224.76. Following the sale, the chief accounting officer now owns 19,252 shares in the company, valued at $830,531.28. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Christopher L. Gaenzle sold 21,918 shares of the stock in a transaction on Monday, July 11th. The stock was sold at an average price of $40.20, for a total value of $881,103.60. Following the sale, the chief accounting officer now owns 33,530 shares in the company, valued at approximately $1,347,906. The disclosure for this sale can be found here. Company 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.
Want to see what other hedge funds are holding INCR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for INC Research Holdings Inc. (NASDAQ:INCR).
Receive News & Ratings for INC Research Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for INC Research Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.