California Public Employees Retirement System Buys New Stake in INC Research Holdings, Inc. (INCR)

California Public Employees Retirement System bought a new position in shares of INC Research Holdings, Inc. (NASDAQ:INCR) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 134,400 shares of the company’s stock, valued at approximately $7,862,000. California Public Employees Retirement System owned approximately 0.25% of INC Research Holdings as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of INCR. UBS Asset Management Americas Inc. boosted its position in INC Research Holdings by 27.1% during the first quarter. UBS Asset Management Americas Inc. now owns 30,118 shares of the company’s stock worth $1,381,000 after purchasing an additional 6,423 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new stake in INC Research Holdings during the first quarter worth $164,000. JPMorgan Chase & Co. boosted its position in INC Research Holdings by 14.4% during the first quarter. JPMorgan Chase & Co. now owns 420,771 shares of the company’s stock worth $19,292,000 after purchasing an additional 52,884 shares in the last quarter. Prudential Financial Inc. boosted its position in INC Research Holdings by 1,194.0% during the first quarter. Prudential Financial Inc. now owns 91,230 shares of the company’s stock worth $4,183,000 after purchasing an additional 84,180 shares in the last quarter. Finally, American International Group Inc. boosted its position in INC Research Holdings by 5.3% during the first quarter. American International Group Inc. now owns 25,080 shares of the company’s stock worth $1,150,000 after purchasing an additional 1,266 shares in the last quarter. Institutional investors own 54.56% of the company’s stock.

In related news, CFO Gregory S. Rush sold 41,420 shares of INC Research Holdings stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $58.26, for a total value of $2,413,129.20. Following the transaction, the chief financial officer now directly owns 42,793 shares in the company, valued at approximately $2,493,120.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Gregory S. Rush sold 9,703 shares of INC Research Holdings stock in a transaction on Monday, September 18th. The stock was sold at an average price of $54.48, for a total value of $528,619.44. Following the completion of the transaction, the chief financial officer now owns 78,593 shares in the company, valued at $4,281,746.64. The disclosure for this sale can be found here. Insiders sold a total of 198,321 shares of company stock worth $11,550,792 over the last 90 days. Insiders own 0.24% of the company’s stock.

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Shares of INC Research Holdings, Inc. (NASDAQ:INCR) opened at 54.75 on Thursday. The stock has a market capitalization of $2.97 billion, a P/E ratio of 33.55 and a beta of 1.34. The stock has a 50 day moving average price of $54.79 and a 200 day moving average price of $53.54. INC Research Holdings, Inc. has a 12 month low of $40.65 and a 12 month high of $61.10.

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

A number of research firms have commented on INCR. William Blair downgraded INC Research Holdings from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 20th. Jefferies Group LLC downgraded INC Research Holdings from a “buy” rating to a “hold” rating and upped their price objective for the company from $62.00 to $64.00 in a research report on Thursday, June 29th. BidaskClub downgraded INC Research Holdings from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Goldman Sachs Group, Inc. (The) restated a “buy” rating and issued a $65.00 price objective on shares of INC Research Holdings in a research report on Monday, August 7th. Finally, TheStreet downgraded INC Research Holdings from a “b” rating to a “c” rating in a research report on Friday, July 28th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. INC Research Holdings currently has a consensus rating of “Buy” and a consensus price target of $64.22.

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

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