There has been some buying and selling insider activity on INC Research Holdings, Inc. (NASDAQ:INCR) recently. D. Jamie Macdonald, CEO sold $2,391,411 worth of shares at an average price of $44.31 on Tue the 27th. The CEO now owns $2,611,055 of the stock as reported to the SEC. Today Robert W. Breckon, Director disclosed the sale of 12,197 shares of (INCR). The shares were purchased at an average price of $44.30. Breckon now owns $149,025 of the stock according to the SEC filing.
Director David F. Burgstahler acquired 1,000 shares at an average price of $43.19 on September 19th. Burgstahler now owns $1,557,647 of stock per an SEC filing yesterday.
The following firms have also recently changed their position in INCR. As of the end of the quarter Macquarie Group Ltd had disposed of a total of 13,954 shares trimming its position 19.1%. The value in dollars went from $3,014,000 to $2,257,000 a change of $757,000 for the reporting period. Kames Capital Plc divested its position by selling 2,968 shares a decrease of 11.3%. Kames Capital Plc now holds 23,235 shares with a value of $885,000. The total value of its holdings decreased 18.0%.
As of quarter end Royal Bank Of Canada had sold 3,599 shares trimming its holdings by 21.5%. The value of the total investment in INC Research Holdings, Inc. decreased from $690,000 to $501,000 a change of 27.4% quarter to quarter. Schwab Charles Investment Management Inc expanded its holdings by buying 280,567 shares an increase of 270.4% in the quarter. Schwab Charles Investment Management Inc now controls 384,310 shares worth $14,654,000. The value of the position overall is up by 191.2%.
August 17 investment analysts at Jefferies kept the stock rating at “Buy” and moved up the price target from $51.00 to $55.00. On April 18 Avondale Partners kept the company rating at “Market Perform” but raised the price expectation to $47.00 from $39.00.
On March 24 analysts at JP Morgan began coverage of the stock with an initial rating of “Overweight” and a price target of $47.00. On September 1 the stock rating was upgraded to “Buy” from “Hold” and a price target of $51.00 was set by Jefferies.
Equity analyst Jefferies raised the price target and upgraded the stock on September 1 changing the price objective from $50.00 to $51.00 and changing the rating from “Hold” to “Buy”. On August 14, 2015 Credit Suisse began coverage of INCR giving it an initial rating of “Outperform” and establishing a price target of $54.00.
The company is trading down by -0.28 percent from yesterday’s close. The stock is trading at $44.60 which is slightly above the 50 day moving average which is $44.25 and just a bit higher than the 200 day moving average of $43.36. The 50 day moving average went up by +0.80% whereas the 200 day average was up by +2.86%.
The P/E ratio is currently 21.99 and the market cap is 2.44B. As of the last earnings report the EPS was $2.03 and is estimated to be $2.47 for the current year with 54,705,000 shares outstanding. Analysts expect next quarter’s EPS to be $0.65 with next year’s EPS projected to be $2.87.
Short traders are feeling a little more bullish on shares of INC Research Holdings, Inc. lately if you take note of the fall in short interest. The stock realized a fall in short interest between August 31, 2016 and September 15, 2016 of -0.01%. Short interest decreased from 1,199,219 to 1,186,116 over that timeframe. Days to cover increased 1.2 to 2.3 and the percentage of shorted shares is 0.02% as of September 15.