AT Bancorp Purchases New Stake in INC Research Holdings Inc. (INCR)
AT Bancorp purchased a new position in shares of INC Research Holdings Inc. (NASDAQ:INCR) during the third quarter, Holdings Channel reports. The fund purchased 27,572 shares of the company’s stock, valued at approximately $1,229,000. AT Bancorp owned 0.05% of INC Research Holdings as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in INC Research Holdings by 29.8% in the second quarter. Vanguard Group Inc. now owns 4,732,938 shares of the company’s stock worth $180,467,000 after buying an additional 1,087,652 shares during the period. JPMorgan Chase & Co. boosted its stake in INC Research Holdings by 2,867.5% in the second quarter. JPMorgan Chase & Co. now owns 2,360,478 shares of the company’s stock worth $90,005,000 after buying an additional 2,280,933 shares during the period. BlackRock Fund Advisors boosted its stake in INC Research Holdings by 64.0% in the second quarter. BlackRock Fund Advisors now owns 1,690,162 shares of the company’s stock worth $64,446,000 after buying an additional 659,355 shares during the period. Silvercrest Asset Management Group LLC boosted its stake in INC Research Holdings by 25.7% in the second quarter. Silvercrest Asset Management Group LLC now owns 1,467,019 shares of the company’s stock worth $55,938,000 after buying an additional 299,588 shares during the period. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in INC Research Holdings by 39.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,073,119 shares of the company’s stock worth $40,918,000 after buying an additional 302,783 shares during the period. Institutional investors own 97.87% of the company’s stock.
INC Research Holdings Inc. (NASDAQ:INCR) remained flat at $50.00 during mid-day trading on Tuesday. INC Research Holdings Inc. has a 1-year low of $34.19 and a 1-year high of $57.11. The company’s 50 day moving average is $47.26 and its 200-day moving average is $44.06. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of 26.54 and a beta of 1.78.
INC Research Holdings (NASDAQ:INCR) last issued its quarterly earnings results on Monday, October 31st. The company reported $0.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.01. INC Research Holdings had a return on equity of 49.42% and a net margin of 6.58%. The company had revenue of $259.56 million for the quarter, compared to the consensus estimate of $259.89 million. During the same quarter in the prior year, the business earned $0.58 EPS. INC Research Holdings’s revenue was up 10.7% on a year-over-year basis. Equities research analysts predict that INC Research Holdings Inc. will post $2.50 EPS for the current fiscal year.
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INCR has been the subject of a number of research analyst reports. Zacks Investment Research cut INC Research Holdings from a “buy” rating to a “hold” rating in a research note on Wednesday, November 23rd. Jefferies Group reduced their price objective on INC Research Holdings from $56.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, August 17th. Finally, Goldman Sachs Group Inc. restated a “conviction-buy” rating and issued a $82.00 price objective on shares of INC Research Holdings in a research note on Thursday, September 8th. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $55.86.
In other news, CAO Christopher L. Gaenzle sold 4,734 shares of the stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $43.14, for a total value of $204,224.76. Following the transaction, the chief accounting officer now owns 19,252 shares in the company, valued at approximately $830,531.28. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO D. Jamie Macdonald sold 53,970 shares of the stock in a transaction dated Tuesday, September 27th. The shares were sold at an average price of $44.30, for a total value of $2,390,871.00. Following the completion of the transaction, the chief executive officer now owns 62,220 shares in the company, valued at approximately $2,756,346. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.
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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