INC Research Holdings, Inc. (NASDAQ:INCR) has been the object of insider buying and selling activity recently. Yesterday Director Robert W. Breckon disclosed the sale of 12,197 shares. The shares were sold on September 26th for an average price of $44.30. Breckon now owns $149,025 of the stock per the Form 4 SEC filing. David F. Burgstahler, Director bought $43,190 worth of shares at an average price of $43.19 on September 19th. That brings Burgstahler’s holdings to $1,557,647 as reported to the SEC.
D. Jamie Macdonald, CEO reported the sale of 100,593 shares of (INCR). The shares were purchased at an average price of $43.00. The CEO now owns $3,276,987 of the stock according to the SEC filing.
Here are a few other firms who have also updated their positions. Macquarie Group Ltd trimmed its holdings by selling 13,954 shares a decrease of 19.1%. Macquarie Group Ltd controls 59,183 shares valued at $2,257,000. The total value of its holdings decreased 25.1%. Kames Capital Plc reduced its investment by shedding 2,968 shares a decrease of 11.3% from 03/31/2016 to 06/30/2016. Kames Capital Plc currently owns 23,235 shares with a value of $885,000. The value of the position overall is down by 18.0%.
Royal Bank Of Canada cut its ownership by selling 3,599 shares a decrease of 21.5% in the quarter. Royal Bank Of Canada now holds 13,138 shares worth $501,000. The value of the position overall is down by 27.4%. As of the end of the quarter Schwab Charles Investment Management Inc had bought 280,567 shares growing its position 270.4%. The value of the investment in (INCR) increased from $5,033,000 to $14,654,000 a change of 191.2% quarter to quarter.
On August 17 Jefferies maintained a company rating of “Buy” but moved up the price target from $51.00 to $55.00. April 18 investment analysts at Avondale Partners made no change to the company rating of “Market Perform” and raised the price target to $47.00 from $39.00.
Equity analyst JP Morgan initiated coverage with an initial rating of “Overweight” and price target of $47.00. On September 1 the company was upgraded to “Buy” from “Hold” with a current price target of $51.00 in an announcement from Jefferies.
Jefferies both upgraded the stock and raised the price target on September 1 boosting the price target from $50.00 to $51.00 and raising the rating from “Hold” to “Buy”. Credit Suisse began coverage giving it an initial rating of “Outperform” and setting a price target of $54.00.
The company is trading up by 0.75% since yesterday’s close of $44.39. The stock is trading at $44.72 which is just over $44.25, the 50 day moving average and which is slightly above the 200 day moving average of $43.36. The 50 day moving average was up $0.48 or +1.085% and the 200 day average went up $1.36 or +3.147%.
The company currently has a P/E ratio of 22.054 and market cap is 2.45B. In 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. Next quarter’s EPS is forecasted to be $0.65 with next year’s EPS projected to be $2.87.
Investors are feeling more bullish of late considering the downtick in short interest. The company saw a fall in short interest between August 31, 2016 and September 15, 2016 of -0.01%. Short interest fell from 1,199,219 to 1,186,116 over that period. Days to cover increased from 1.1 to 2.3 and the percentage of shorted shares was 0.02% on September 15.