Confluence Wealth Services Inc. Acquires 429 Shares of IQVIA Holdings Inc. (NYSE:IQV)

Confluence Wealth Services Inc. raised its stake in IQVIA Holdings Inc. (NYSE:IQV) by 33.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,700 shares of the medical research company’s stock after buying an additional 429 shares during the period. Confluence Wealth Services Inc.’s holdings in IQVIA were worth $430,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. International Assets Investment Management LLC bought a new stake in shares of IQVIA in the 4th quarter valued at $13,759,000. Schwartz Investment Counsel Inc. increased its holdings in IQVIA by 4.1% in the fourth quarter. Schwartz Investment Counsel Inc. now owns 178,690 shares of the medical research company’s stock worth $41,345,000 after purchasing an additional 7,050 shares in the last quarter. Gilliland Jeter Wealth Management LLC acquired a new position in IQVIA in the fourth quarter valued at approximately $986,000. Dfpg Investments LLC bought a new position in shares of IQVIA during the 4th quarter worth approximately $1,106,000. Finally, Sei Investments Co. grew its position in shares of IQVIA by 20.2% during the 3rd quarter. Sei Investments Co. now owns 94,748 shares of the medical research company’s stock worth $18,641,000 after buying an additional 15,913 shares during the period. 89.62% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

IQV has been the topic of a number of research analyst reports. Barclays increased their price objective on shares of IQVIA from $260.00 to $265.00 and gave the stock an “overweight” rating in a research report on Thursday, February 15th. Evercore ISI upped their price objective on IQVIA from $255.00 to $265.00 and gave the company a “market outperform” rating in a research note on Thursday, February 15th. BTIG Research assumed coverage on shares of IQVIA in a research note on Tuesday, February 13th. They issued a “buy” rating and a $285.00 target price for the company. SVB Leerink assumed coverage on shares of IQVIA in a report on Monday, February 26th. They issued an “outperform” rating and a $290.00 price target for the company. Finally, StockNews.com raised shares of IQVIA from a “hold” rating to a “buy” rating in a research note on Friday, February 16th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $256.80.

IQVIA Trading Down 1.6 %

Shares of IQV stock traded down $3.68 on Tuesday, reaching $231.80. 674,185 shares of the company’s stock were exchanged, compared to its average volume of 963,709. The stock has a market capitalization of $42.07 billion, a PE ratio of 31.80, a P/E/G ratio of 2.27 and a beta of 1.50. IQVIA Holdings Inc. has a 52 week low of $167.42 and a 52 week high of $261.73. The company’s fifty day simple moving average is $245.15 and its 200 day simple moving average is $223.79. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 2.12.

IQVIA (NYSE:IQV) last released its quarterly earnings data on Wednesday, February 14th. The medical research company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.82 by $0.02. IQVIA had a net margin of 9.06% and a return on equity of 29.32%. The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.80 billion. During the same period last year, the firm earned $2.54 earnings per share. The company’s quarterly revenue was up 3.5% on a year-over-year basis. As a group, analysts forecast that IQVIA Holdings Inc. will post 10.12 EPS for the current year.

Insider Activity

In other news, insider Kevin C. Knightly sold 8,607 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $250.17, for a total value of $2,153,213.19. Following the completion of the transaction, the insider now directly owns 5,251 shares in the company, valued at $1,313,642.67. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Kevin C. Knightly sold 8,607 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $250.17, for a total value of $2,153,213.19. Following the completion of the transaction, the insider now directly owns 5,251 shares in the company, valued at approximately $1,313,642.67. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ari Bousbib sold 31,678 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $250.53, for a total value of $7,936,289.34. Following the completion of the transaction, the insider now directly owns 796,752 shares of the company’s stock, valued at approximately $199,610,278.56. The disclosure for this sale can be found here. Insiders have sold a total of 41,285 shares of company stock worth $10,331,003 over the last 90 days. 1.60% of the stock is currently owned by corporate insiders.

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.