Providence Capital Advisors LLC Grows Position in IQVIA Holdings Inc. (NYSE:IQV)

Providence Capital Advisors LLC grew its stake in IQVIA Holdings Inc. (NYSE:IQV) by 60.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,767 shares of the medical research company’s stock after buying an additional 8,216 shares during the period. Providence Capital Advisors LLC’s holdings in IQVIA were worth $4,602,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Versant Capital Management Inc increased its holdings in shares of IQVIA by 733.3% in the second quarter. Versant Capital Management Inc now owns 125 shares of the medical research company’s stock valued at $26,000 after purchasing an additional 110 shares during the period. Opal Wealth Advisors LLC acquired a new position in IQVIA in the 2nd quarter worth approximately $27,000. Itau Unibanco Holding S.A. purchased a new position in IQVIA during the 2nd quarter worth approximately $29,000. Rise Advisors LLC purchased a new stake in shares of IQVIA in the 1st quarter valued at $31,000. Finally, Riverview Trust Co acquired a new stake in shares of IQVIA in the first quarter worth $32,000. 89.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Eric Sherbet sold 1,300 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $246.33, for a total value of $320,229.00. Following the transaction, the insider now owns 19,536 shares in the company, valued at $4,812,302.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on IQV shares. Truist Financial upped their price target on shares of IQVIA from $292.00 to $300.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Royal Bank of Canada assumed coverage on IQVIA in a report on Wednesday, September 4th. They set an “outperform” rating and a $275.00 target price on the stock. StockNews.com raised IQVIA from a “hold” rating to a “buy” rating in a report on Thursday, September 5th. Jefferies Financial Group lowered IQVIA from a “buy” rating to a “hold” rating and dropped their target price for the stock from $266.00 to $242.00 in a report on Wednesday, July 24th. Finally, Morgan Stanley raised their target price on IQVIA from $270.00 to $280.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $267.00.

IQVIA Stock Down 0.6 %

Shares of IQV opened at $240.75 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.80. IQVIA Holdings Inc. has a 12 month low of $167.42 and a 12 month high of $261.73. The stock’s 50 day moving average is $240.90 and its two-hundred day moving average is $233.81. The firm has a market cap of $43.86 billion, a P/E ratio of 32.89, a PEG ratio of 2.25 and a beta of 1.49.

IQVIA (NYSE:IQV) last released its earnings results on Monday, July 22nd. The medical research company reported $2.64 earnings per share for the quarter, beating the consensus estimate of $2.57 by $0.07. The business had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.79 billion. IQVIA had a return on equity of 28.59% and a net margin of 9.39%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.22 earnings per share. Analysts predict that IQVIA Holdings Inc. will post 10.25 earnings per share for the current fiscal year.

About IQVIA

IQVIA Holdings Inc engages in the provision of advanced analytics, technology solutions, and clinical research services to the life sciences industry in the Americas, Europe, Africa, and the Asia-Pacific. It operates through three segments: Technology & Analytics Solutions, Research & Development Solutions, and Contract Sales & Medical Solutions.