Connor Clark & Lunn Investment Management Ltd. Increases Holdings in IQVIA Holdings Inc. (NYSE:IQV)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in IQVIA Holdings Inc. by 47%, acquiring an additional 106,983 shares, bringing their total to 334,495 shares valued at approximately $58.97 million.
• IQVIA reported $2.81 earnings per share (EPS), surpassing the market estimate of $2.77, with a revenue of $4.02 billion for the quarter, showing a 5.3% increase year-over-year.
• Several research firms have recently upgraded IQVIA, with UBS Group raising its price target from $185 to $225 and maintaining a "buy" rating.

Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 47.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 334,495 shares of the medical research company's stock after purchasing an additional 106,983 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.19% of IQVIA worth $58,971,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Canada Pension Plan Investment Board raised its holdings in IQVIA by 20.0% in the fourth quarter. Canada Pension Plan Investment Board now owns 4,282,024 shares of the medical research company's stock worth $841,461,000 after purchasing an additional 712,958 shares in the last quarter. Northern Trust Corp grew its stake in shares of IQVIA by 16.2% during the 4th quarter. Northern Trust Corp now owns 1,791,229 shares of the medical research company's stock valued at $351,994,000 after purchasing an additional 250,141 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of IQVIA by 13.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,393,140 shares of the medical research company's stock valued at $273,766,000 after purchasing an additional 167,057 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of IQVIA by 18.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,387,862 shares of the medical research company's stock valued at $272,744,000 after buying an additional 214,046 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of IQVIA by 30.3% during the 4th quarter. Bank of America Corp DE now owns 1,255,535 shares of the medical research company's stock valued at $246,725,000 after buying an additional 291,816 shares in the last quarter. Hedge funds and other institutional investors own 89.62% of the company's stock.

Insider Buying and Selling

In related news, insider Eric Sherbet sold 5,800 shares of IQVIA stock in a transaction that occurred on 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 approximately $5,165,178.90. This trade represents a 17.59% 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 Keriann Cherofsky sold 549 shares of the firm's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $191.53, for a total value of $105,149.97. Following the sale, the insider directly owned 2,910 shares of the company's stock, valued at approximately $557,352.30. This trade represents a 15.87% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.60% of the company's stock.

IQVIA Price Performance

IQV traded up $3.52 during trading on Wednesday, hitting $189.43. The company's stock had a trading volume of 675,461 shares, compared to its average volume of 1,996,566. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 2.45. IQVIA Holdings Inc. has a twelve month low of $134.65 and a twelve month high of $252.88. The business's fifty day simple moving average is $167.92 and its 200 day simple moving average is $168.89. The firm has a market capitalization of $32.20 billion, a price-to-earnings ratio of 27.40, a P/E/G ratio of 1.98 and a beta of 1.30.

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

Analyst Ratings Changes

A number of research analysts recently commented on the company. JPMorgan Chase & Co. lowered their price target on IQVIA from $232.00 to $177.00 and set an "overweight" rating on the stock in a report on Monday, May 19th. Citigroup reaffirmed a "neutral" rating on shares of IQVIA in a research report on Thursday, May 22nd. HSBC downgraded IQVIA from a "buy" rating to a "hold" rating and dropped their price target for the stock from $260.00 to $160.00 in a research report on Friday, April 25th. Redburn Partners set a $188.00 price target on IQVIA in a research report on Friday, May 23rd. Finally, Truist Financial upped their price objective on IQVIA from $209.00 to $235.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Seven investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $228.62.

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.