IQVIA Holdings Inc. (NYSE:IQV) Shares Sold by Commerce Bank

Key Points

• Commerce Bank reduced its holdings in IQVIA Holdings Inc. by 5.4%, ending the first quarter with 68,023 shares valued at approximately $11.99 million.
• Several institutional investors, including the Canada Pension Plan Investment Board, made significant increases to their IQVIA positions, with ownership of institutional investors and hedge funds combined reaching 89.62% of the company's stock.
• IQVIA reported a quarterly earnings per share (EPS) of $2.81, exceeding estimates, with revenue of $4.02 billion, reflecting a 5.3% year-over-year increase.

Commerce Bank reduced its position in IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 5.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 68,023 shares of the medical research company's stock after selling 3,875 shares during the quarter. Commerce Bank's holdings in IQVIA were worth $11,992,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in IQV. Brighton Jones LLC boosted its stake in shares of IQVIA by 244.4% in the fourth quarter. Brighton Jones LLC now owns 3,575 shares of the medical research company's stock worth $703,000 after acquiring an additional 2,537 shares during the last quarter. Schroder Investment Management Group grew its stake in IQVIA by 4.5% during the 4th quarter. Schroder Investment Management Group now owns 77,715 shares of the medical research company's stock valued at $15,272,000 after acquiring an additional 3,333 shares in the last quarter. Wellington Management Group LLP grew its stake in IQVIA by 12.7% during the 4th quarter. Wellington Management Group LLP now owns 9,791 shares of the medical research company's stock valued at $1,924,000 after acquiring an additional 1,106 shares in the last quarter. Headlands Technologies LLC grew its stake in IQVIA by 397.0% during the 4th quarter. Headlands Technologies LLC now owns 1,675 shares of the medical research company's stock valued at $329,000 after acquiring an additional 1,338 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in IQVIA by 5.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 142,249 shares of the medical research company's stock valued at $27,953,000 after acquiring an additional 7,546 shares in the last quarter. 89.62% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on IQV. Truist Financial increased their price target on shares of IQVIA from $209.00 to $235.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. William Blair reaffirmed an "outperform" rating on shares of IQVIA in a research report on Wednesday, July 23rd. Robert W. Baird increased their price objective on shares of IQVIA from $159.00 to $196.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Cowen reaffirmed a "buy" rating on shares of IQVIA in a research report on Wednesday, July 23rd. Finally, Mizuho set a $225.00 price objective on shares of IQVIA and gave the stock an "outperform" rating in a research report on Friday, July 25th. Seven analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, IQVIA currently has an average rating of "Moderate Buy" and an average target price of $228.62.

Insider Transactions at IQVIA

In other IQVIA news, insider Keriann Cherofsky sold 549 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $191.53, for a total transaction of $105,149.97. Following the transaction, the insider directly owned 2,910 shares in the company, valued at approximately $557,352.30. This represents a 15.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Eric Sherbet sold 5,800 shares of the company's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $190.05, for a total transaction of $1,102,290.00. Following the transaction, the insider owned 27,178 shares in the company, valued at $5,165,178.90. The trade was a 17.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.60% of the company's stock.

IQVIA Stock Performance

Shares of IQVIA stock traded up $1.08 on Tuesday, reaching $183.83. 2,522,795 shares of the stock were exchanged, compared to its average volume of 2,031,838. IQVIA Holdings Inc. has a 1-year low of $134.65 and a 1-year high of $252.88. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 2.45. The business has a fifty day moving average price of $163.03 and a two-hundred day moving average price of $169.60. The firm has a market capitalization of $31.25 billion, a PE ratio of 26.60, a PEG ratio of 2.00 and a beta of 1.30.

IQVIA (NYSE:IQV - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The medical research company reported $2.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.77 by $0.04. IQVIA had a net margin of 7.88% and a return on equity of 30.05%. The business had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same period in the previous year, the business posted $2.64 earnings per share. The business's revenue was up 5.3% compared to the same quarter last year. As a group, research analysts anticipate that IQVIA Holdings Inc. will post 10.84 earnings per share for the current fiscal year.

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.