Nicholas Company Inc. Cuts Stake in INC Research Holdings, Inc. (INCR)

Nicholas Company Inc. lowered its holdings in INC Research Holdings, Inc. (NASDAQ:INCR) by 0.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 124,980 shares of the company’s stock after selling 300 shares during the quarter. Nicholas Company Inc. owned 0.23% of INC Research Holdings worth $7,311,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in INC Research Holdings by 14.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,765 shares of the company’s stock valued at $103,000 after buying an additional 228 shares during the period. Invictus RG acquired a new stake in INC Research Holdings during the first quarter valued at $115,000. Pacad Investment Ltd. acquired a new stake in INC Research Holdings during the second quarter valued at $123,000. Foresters Investment Management Company Inc. acquired a new stake in INC Research Holdings during the first quarter valued at $128,000. Finally, Riverhead Capital Management LLC acquired a new stake in INC Research Holdings during the second quarter valued at $128,000. Hedge funds and other institutional investors own 98.97% of the company’s stock.

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INCR has been the topic of several analyst reports. TheStreet lowered shares of INC Research Holdings from a “b” rating to a “c” rating in a research report on Friday, July 28th. BidaskClub lowered shares of INC Research Holdings from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. KeyCorp upgraded shares of INC Research Holdings from a “sector weight” rating to an “overweight” rating and set a $68.00 price target on the stock in a research report on Monday, June 5th. Jefferies Group LLC restated a “buy” rating and set a $62.00 price target on shares of INC Research Holdings in a research report on Friday, June 16th. Finally, SunTrust Banks, Inc. upgraded shares of INC Research Holdings from a “hold” rating to a “buy” rating and raised their price target for the company from $48.00 to $67.00 in a research report on Wednesday, May 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $63.79.

Shares of INC Research Holdings, Inc. (NASDAQ:INCR) opened at 54.85 on Friday. INC Research Holdings, Inc. has a 12 month low of $40.65 and a 12 month high of $61.10. The stock has a 50 day moving average of $56.06 and a 200 day moving average of $52.41. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of 33.61 and a beta of 1.41.

INC Research Holdings (NASDAQ:INCR) last posted its quarterly earnings results on Thursday, July 27th. The company reported $0.64 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.64. INC Research Holdings had a net margin of 5.69% and a return on equity of 40.69%. The business had revenue of $258.10 million for the quarter, compared to analysts’ expectations of $256.76 million. During the same period in the prior year, the company posted $0.61 EPS. The business’s revenue for the quarter was down .3% on a year-over-year basis. On average, equities research analysts expect that INC Research Holdings, Inc. will post $2.62 EPS for the current fiscal year.

In other news, CAO Christopher L. Gaenzle sold 42,601 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $58.67, for a total transaction of $2,499,400.67. Following the transaction, the chief accounting officer now directly owns 69,557 shares of the company’s stock, valued at approximately $4,080,909.19. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Gregory S. Rush sold 88,739 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $58.99, for a total transaction of $5,234,713.61. Following the transaction, the chief financial officer now directly owns 149,301 shares in the company, valued at $8,807,265.99. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 199,016 shares of company stock worth $11,655,556. Corporate insiders own 0.24% of the company’s stock.

About INC Research Holdings

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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Institutional Ownership by Quarter for INC Research Holdings (NASDAQ:INCR)

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