Allspring Global Investments Holdings LLC Sells 15,996 Shares of IQVIA Holdings Inc. (NYSE:IQV)

Allspring Global Investments Holdings LLC trimmed its position in IQVIA Holdings Inc. (NYSE:IQV) by 17.7% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 74,426 shares of the medical research company’s stock after selling 15,996 shares during the period. Allspring Global Investments Holdings LLC’s holdings in IQVIA were worth $17,637,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in IQV. 1832 Asset Management L.P. grew its position in IQVIA by 472.3% in the 2nd quarter. 1832 Asset Management L.P. now owns 456,335 shares of the medical research company’s stock worth $96,487,000 after purchasing an additional 376,595 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of IQVIA during the 2nd quarter valued at approximately $70,610,000. Impax Asset Management Group plc grew its position in shares of IQVIA by 19.3% during the 2nd quarter. Impax Asset Management Group plc now owns 1,635,201 shares of the medical research company’s stock valued at $344,998,000 after acquiring an additional 264,555 shares during the period. Canada Pension Plan Investment Board grew its position in shares of IQVIA by 6.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 3,403,488 shares of the medical research company’s stock valued at $719,634,000 after acquiring an additional 211,653 shares during the period. Finally, D. E. Shaw & Co. Inc. grew its position in shares of IQVIA by 285.1% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 268,552 shares of the medical research company’s stock valued at $56,783,000 after acquiring an additional 198,808 shares during the period. 89.62% of the stock is owned by institutional investors.

IQVIA Stock Performance

NYSE IQV opened at $211.71 on Friday. IQVIA Holdings Inc. has a 1 year low of $167.42 and a 1 year high of $261.73. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market capitalization of $38.59 billion, a PE ratio of 27.49, a P/E/G ratio of 2.22 and a beta of 1.49. The company’s 50 day simple moving average is $238.71 and its two-hundred day simple moving average is $230.92.

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

Analyst Upgrades and Downgrades

IQV has been the subject of a number of research reports. JPMorgan Chase & Co. reduced their target price on shares of IQVIA from $288.00 to $279.00 and set an “overweight” rating for the company in a research report on Wednesday. Argus raised shares of IQVIA to a “strong-buy” rating in a research report on Wednesday, July 31st. Royal Bank of Canada initiated coverage on shares of IQVIA in a research report on Wednesday, September 4th. They set an “outperform” rating and a $275.00 target price for the company. Jefferies Financial Group downgraded shares of IQVIA from a “buy” rating to a “hold” rating and reduced their target price for the company from $266.00 to $242.00 in a research report on Wednesday, July 24th. Finally, UBS Group raised their price objective on shares of IQVIA from $295.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $267.27.

Insider Activity

In other news, insider Eric Sherbet sold 1,300 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $246.33, for a total transaction of $320,229.00. Following the sale, the insider now owns 19,536 shares in the company, valued at approximately $4,812,302.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.60% of the company’s stock.

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.