Montag & Caldwell LLC Has $11.26 Million Stock Position in IQVIA Holdings Inc. (NYSE:IQV)

Montag & Caldwell LLC lessened its position in IQVIA Holdings Inc. (NYSE:IQV) by 20.4% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 53,243 shares of the medical research company’s stock after selling 13,666 shares during the period. IQVIA makes up about 2.3% of Montag & Caldwell LLC’s holdings, making the stock its 19th largest position. Montag & Caldwell LLC’s holdings in IQVIA were worth $11,258,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. 9258 Wealth Management LLC lifted its stake in shares of IQVIA by 35.9% in the fourth quarter. 9258 Wealth Management LLC now owns 2,915 shares of the medical research company’s stock valued at $674,000 after buying an additional 770 shares in the last quarter. Avantax Advisory Services Inc. increased its holdings in IQVIA by 39.6% during the 4th quarter. Avantax Advisory Services Inc. now owns 2,702 shares of the medical research company’s stock worth $625,000 after purchasing an additional 766 shares in the last quarter. Norges Bank bought a new position in shares of IQVIA in the fourth quarter valued at approximately $383,705,000. BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of IQVIA by 36.7% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 15,621 shares of the medical research company’s stock valued at $3,614,000 after buying an additional 4,195 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in IQVIA by 4.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 43,380 shares of the medical research company’s stock worth $10,037,000 after buying an additional 1,943 shares in the last quarter. 89.62% of the stock is owned by institutional investors and hedge funds.

IQVIA Price Performance

IQVIA stock opened at $238.70 on Monday. The firm has a market capitalization of $43.52 billion, a P/E ratio of 32.61, a PEG ratio of 2.24 and a beta of 1.49. IQVIA Holdings Inc. has a one year low of $167.42 and a one year high of $261.73. 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 fifty day moving average price of $237.98 and a 200-day moving average price of $234.26.

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

Wall Street Analyst Weigh In

Several research firms have recently issued reports on IQV. Argus upgraded shares of IQVIA to a “strong-buy” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. increased their price objective on shares of IQVIA from $260.00 to $288.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Truist Financial lifted their target price on shares of IQVIA from $292.00 to $300.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Evercore ISI increased their price target on IQVIA from $230.00 to $270.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Finally, Robert W. Baird boosted their price objective on IQVIA from $235.00 to $251.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $266.67.

Insider Buying and Selling at IQVIA

In related news, insider Eric Sherbet sold 1,300 shares of IQVIA stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $246.33, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.60% of the company’s stock.

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.