Texas Permanent School Fund Corp Sells 7,545 Shares of IQVIA Holdings Inc. (NYSE:IQV)

Texas Permanent School Fund Corp cut its holdings in IQVIA Holdings Inc. (NYSE:IQV) by 20.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,171 shares of the medical research company’s stock after selling 7,545 shares during the period. Texas Permanent School Fund Corp’s holdings in IQVIA were worth $6,379,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of IQV. Rise Advisors LLC bought a new position in IQVIA in the 1st quarter worth $31,000. Versant Capital Management Inc raised its stake 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 worth $26,000 after buying an additional 110 shares during the period. Riverview Trust Co purchased a new stake in IQVIA in the 1st quarter worth approximately $32,000. Opal Wealth Advisors LLC purchased a new position in IQVIA during the second quarter valued at approximately $27,000. Finally, International Assets Investment Management LLC bought a new position in shares of IQVIA in the second quarter worth approximately $32,000. Hedge funds and other institutional investors own 89.62% of the company’s stock.

IQVIA Price Performance

NYSE:IQV opened at $237.35 on Thursday. The firm has a market capitalization of $43.25 billion, a price-to-earnings ratio of 32.42, a PEG ratio of 2.29 and a beta of 1.49. 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 business has a 50 day simple moving average of $236.73 and a 200-day simple moving average of $234.50. IQVIA Holdings Inc. has a 1 year low of $167.42 and a 1 year high of $261.73.

IQVIA (NYSE:IQV) last issued its quarterly earnings results on Monday, July 22nd. The medical research company reported $2.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.07. IQVIA had a return on equity of 28.59% and a net margin of 9.39%. The company had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same period last year, the company earned $2.22 earnings per share. IQVIA’s revenue was up 2.3% on a year-over-year basis. Equities analysts forecast that IQVIA Holdings Inc. will post 10.25 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on IQV shares. StockNews.com upgraded shares of IQVIA from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th. Evercore ISI increased their target price on IQVIA from $230.00 to $270.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada began coverage on IQVIA in a report on Wednesday, September 4th. They issued an “outperform” rating and a $275.00 price target on the stock. UBS Group increased their price objective on shares of IQVIA from $295.00 to $300.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, Morgan Stanley boosted their target price on shares of IQVIA from $270.00 to $280.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $266.67.

Insider Buying and Selling

In other IQVIA news, insider Eric Sherbet sold 1,300 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $246.33, for a total value of $320,229.00. Following the completion of the sale, the insider now owns 19,536 shares of the company’s stock, valued at $4,812,302.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.60% of the stock is owned by corporate insiders.

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.