California Public Employees Retirement System Has $80.05 Million Holdings in IQVIA Holdings Inc. (NYSE:IQV)

California Public Employees Retirement System lowered its position in shares of IQVIA Holdings Inc. (NYSE:IQV) by 3.3% during the fourth quarter, Holdings Channel reports. The fund owned 345,955 shares of the medical research company’s stock after selling 11,672 shares during the quarter. California Public Employees Retirement System’s holdings in IQVIA were worth $80,047,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. CWM LLC increased its stake in IQVIA by 5.8% in the 3rd quarter. CWM LLC now owns 3,773 shares of the medical research company’s stock valued at $742,000 after buying an additional 207 shares during the period. DAVENPORT & Co LLC increased its stake in IQVIA by 13.9% in the 3rd quarter. DAVENPORT & Co LLC now owns 21,479 shares of the medical research company’s stock valued at $4,226,000 after buying an additional 2,615 shares during the period. Strategic Blueprint LLC increased its stake in IQVIA by 9.9% in the 3rd quarter. Strategic Blueprint LLC now owns 2,965 shares of the medical research company’s stock valued at $583,000 after buying an additional 266 shares during the period. CX Institutional increased its stake in IQVIA by 20.0% in the 3rd quarter. CX Institutional now owns 1,515 shares of the medical research company’s stock valued at $298,000 after buying an additional 253 shares during the period. Finally, WASHINGTON TRUST Co increased its stake in IQVIA by 0.4% in the 3rd quarter. WASHINGTON TRUST Co now owns 107,077 shares of the medical research company’s stock valued at $21,067,000 after buying an additional 440 shares during the period. Institutional investors and hedge funds own 89.62% of the company’s stock.

IQVIA Price Performance

NYSE IQV opened at $240.84 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 2.12. The company has a fifty day simple moving average of $245.50 and a 200 day simple moving average of $222.69. The company has a market cap of $43.71 billion, a P/E ratio of 33.04, a P/E/G ratio of 2.31 and a beta of 1.50. IQVIA Holdings Inc. has a 1 year low of $167.42 and a 1 year high of $261.73.

IQVIA (NYSE:IQV) last posted its quarterly earnings data on Wednesday, February 14th. The medical research company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.02. The business had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.80 billion. IQVIA had a net margin of 9.06% and a return on equity of 29.32%. IQVIA’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.54 EPS. On average, sell-side analysts predict that IQVIA Holdings Inc. will post 10.11 EPS for the current year.

Insider Buying and Selling

In other IQVIA news, insider Ari Bousbib sold 31,678 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $250.53, for a total value of $7,936,289.34. Following the completion of the sale, the insider now directly owns 796,752 shares of the company’s stock, valued at approximately $199,610,278.56. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other IQVIA news, insider Eric Sherbet sold 1,000 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $241.50, for a total value of $241,500.00. Following the completion of the sale, the insider now directly owns 20,836 shares of the company’s stock, valued at approximately $5,031,894. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Ari Bousbib sold 31,678 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $250.53, for a total transaction of $7,936,289.34. Following the completion of the sale, the insider now directly owns 796,752 shares of the company’s stock, valued at $199,610,278.56. The disclosure for this sale can be found here. In the last three months, insiders sold 41,285 shares of company stock valued at $10,331,003. Company insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Guggenheim lowered shares of IQVIA from a “buy” rating to a “neutral” rating in a research note on Thursday, February 15th. UBS Group boosted their target price on shares of IQVIA from $240.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. Leerink Partnrs reissued an “outperform” rating on shares of IQVIA in a research report on Monday, February 26th. StockNews.com raised shares of IQVIA from a “hold” rating to a “buy” rating in a research report on Friday, February 16th. Finally, BTIG Research started coverage on shares of IQVIA in a research report on Tuesday, February 13th. They issued a “buy” rating and a $285.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, IQVIA currently has a consensus rating of “Moderate Buy” and an average price target of $256.80.

IQVIA Company Profile

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.