Nationwide Fund Advisors Acquires 14,533 Shares of INC Research Holdings, Inc. (INCR)
Nationwide Fund Advisors grew its holdings in INC Research Holdings, Inc. (NASDAQ:INCR) by 9.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 167,803 shares of the company’s stock after acquiring an additional 14,533 shares during the quarter. Nationwide Fund Advisors owned 0.31% of INC Research worth $8,776,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in INC Research by 14.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,765 shares of the company’s stock worth $103,000 after purchasing an additional 228 shares during the period. Pacad Investment Ltd. bought a new stake in INC Research during the second quarter worth about $123,000. Riverhead Capital Management LLC bought a new stake in INC Research during the second quarter worth about $128,000. Victory Capital Management Inc. lifted its position in INC Research by 17.6% during the second quarter. Victory Capital Management Inc. now owns 2,377 shares of the company’s stock worth $139,000 after purchasing an additional 356 shares during the period. Finally, Personal Capital Advisors Corp bought a new stake in INC Research during the third quarter worth about $234,000. 99.56% of the stock is owned by institutional investors.
Several research analysts have commented on INCR shares. Zacks Investment Research downgraded INC Research from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 16th. Jefferies Group reissued a “buy” rating and set a $55.00 target price on shares of INC Research in a research note on Friday, November 10th. Credit Suisse Group lowered their target price on INC Research from $68.00 to $54.00 and set an “outperform” rating for the company in a research note on Tuesday, November 14th. KeyCorp reissued a “market perform” rating and set a $46.00 target price (down previously from $68.00) on shares of INC Research in a research note on Monday, November 13th. Finally, Robert W. Baird set a $46.00 target price on INC Research and gave the stock a “buy” rating in a research note on Thursday, November 16th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $52.67.
INC Research Holdings, Inc. (INCR) opened at $39.30 on Friday. INC Research Holdings, Inc. has a 52 week low of $33.60 and a 52 week high of $61.10. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $3,980.76, a P/E ratio of 17.50, a PEG ratio of 1.20 and a beta of 1.08.
INC Research (NASDAQ:INCR) last released its quarterly earnings data on Thursday, November 9th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by ($0.09). INC Research had a negative net margin of 4.29% and a positive return on equity of 14.42%. The firm had revenue of $592.21 million during the quarter, compared to analyst estimates of $604.95 million. During the same period in the prior year, the company earned $0.64 EPS. The business’s quarterly revenue was up 128.2% compared to the same quarter last year. analysts expect that INC Research Holdings, Inc. will post 2.15 EPS for the current fiscal year.
In other INC Research news, CFO Gregory S. Rush sold 9,703 shares of the stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $54.48, for a total transaction of $528,619.44. Following the completion of the sale, the chief financial officer now owns 78,593 shares of the company’s stock, valued at approximately $4,281,746.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Alistair Macdonald sold 2,348 shares of the stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $54.60, for a total transaction of $128,200.80. Following the sale, the chief executive officer now directly owns 99,453 shares of the company’s stock, valued at approximately $5,430,133.80. The disclosure for this sale can be found here. Insiders sold 16,733 shares of company stock valued at $912,270 in the last ninety days. 0.24% of the stock is currently owned by insiders.
INC Research Profile
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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