Medpace Holdings, Inc. (NASDAQ:MEDP) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 66.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,894 shares of the company's stock after selling 17,353 shares during the period. Allspring Global Investments Holdings LLC's holdings in Medpace were worth $2,726,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Contravisory Investment Management Inc. acquired a new stake in shares of Medpace during the 4th quarter valued at about $26,000. RiverPark Advisors LLC purchased a new position in Medpace in the 4th quarter valued at about $26,000. McGlone Suttner Wealth Management Inc. purchased a new position in Medpace in the 4th quarter valued at about $33,000. FinTrust Capital Advisors LLC purchased a new position in Medpace in the 3rd quarter valued at about $30,000. Finally, Altshuler Shaham Ltd purchased a new position in Medpace in the 4th quarter valued at about $27,000. 77.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Susan E. Burwig sold 102 shares of Medpace stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $403.00, for a total transaction of $41,106.00. Following the sale, the vice president now owns 15,181 shares of the company's stock, valued at approximately $6,117,943. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, VP Susan E. Burwig sold 102 shares of Medpace stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $403.00, for a total value of $41,106.00. Following the completion of the sale, the vice president now owns 15,181 shares in the company, valued at approximately $6,117,943. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Medpace Investors, Llc sold 50,000 shares of Medpace stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $391.75, for a total transaction of $19,587,500.00. Following the completion of the sale, the insider now owns 5,539,947 shares of the company's stock, valued at approximately $2,170,274,237.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 189,340 shares of company stock valued at $76,651,647. 20.30% of the stock is currently owned by company insiders.

Medpace Stock Down 0.6 %

MEDP traded down $2.32 during trading on Friday, reaching $372.00. The company's stock had a trading volume of 221,668 shares, compared to its average volume of 172,626. The company has a market cap of $11.52 billion, a price-to-earnings ratio of 41.89, a PEG ratio of 1.97 and a beta of 1.38. The firm has a fifty day simple moving average of $395.78 and a two-hundred day simple moving average of $321.07. Medpace Holdings, Inc. has a 1 year low of $185.43 and a 1 year high of $419.42.

Medpace (NASDAQ:MEDP - Get Free Report) last released its quarterly earnings results on Monday, February 12th. The company reported $2.46 EPS for the quarter, beating the consensus estimate of $2.22 by $0.24. The firm had revenue of $498.40 million for the quarter, compared to analyst estimates of $498.72 million. Medpace had a net margin of 15.00% and a return on equity of 63.98%. The business's revenue for the quarter was up 26.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.12 EPS. As a group, equities analysts forecast that Medpace Holdings, Inc. will post 10.53 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MEDP. Robert W. Baird raised their price target on shares of Medpace from $312.00 to $408.00 and gave the company an "outperform" rating in a research note on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft began coverage on shares of Medpace in a research note on Monday, March 18th. They issued a "hold" rating and a $395.00 price target on the stock. UBS Group raised shares of Medpace from a "neutral" rating to a "buy" rating and raised their target price for the stock from $282.00 to $452.00 in a research note on Thursday, February 15th. Finally, StockNews.com lowered shares of Medpace from a "buy" rating to a "hold" rating in a research note on Saturday, March 23rd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $382.00.

About Medpace

Medpace Holdings, Inc provides clinical research-based drug and medical device development services in North America, Europe, and Asia. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. It provides clinical development services to the pharmaceutical, biotechnology, and medical device industries; and development plan design, coordinated central laboratory, project management, regulatory affairs, clinical monitoring, data management and analysis, pharmacovigilance new drug application submissions, and post-marketing clinical support services.