Confluence Wealth Services Inc. Raises Holdings in IQVIA Holdings Inc. (NYSE:IQV)

Confluence Wealth Services Inc. increased its holdings in shares of IQVIA Holdings Inc. (NYSE:IQV) by 33.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,700 shares of the medical research company’s stock after purchasing an additional 429 shares during the quarter. Confluence Wealth Services Inc.’s holdings in IQVIA were worth $430,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. AdvisorNet Financial Inc grew its stake in shares of IQVIA by 327.6% in the fourth quarter. AdvisorNet Financial Inc now owns 124 shares of the medical research company’s stock worth $29,000 after acquiring an additional 95 shares during the period. Rise Advisors LLC bought a new stake in IQVIA in the 1st quarter worth approximately $31,000. BKM Wealth Management LLC purchased a new stake in IQVIA during the 4th quarter valued at $32,000. Riverview Trust Co purchased a new position in shares of IQVIA in the 1st quarter worth $32,000. Finally, Activest Wealth Management bought a new stake in shares of IQVIA in the fourth quarter worth $35,000. 89.62% of the stock is currently owned by institutional investors.

Insider Transactions at IQVIA

In other IQVIA news, insider Ari Bousbib sold 31,678 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $250.53, for a total transaction of $7,936,289.34. Following the sale, the insider now directly owns 796,752 shares of the company’s stock, valued at $199,610,278.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Ari Bousbib sold 31,678 shares of IQVIA stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $250.53, for a total transaction of $7,936,289.34. Following the completion of the transaction, the insider now directly owns 796,752 shares of the company’s stock, valued at approximately $199,610,278.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Kevin C. Knightly sold 8,607 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $250.17, for a total transaction of $2,153,213.19. Following the transaction, the insider now owns 5,251 shares in the company, valued at $1,313,642.67. The disclosure for this sale can be found here. Insiders have sold a total of 41,285 shares of company stock worth $10,331,003 in the last three months. Insiders own 1.60% of the company’s stock.

IQVIA Price Performance

IQV traded down $3.68 during trading on Tuesday, hitting $231.80. 674,185 shares of the company traded hands, compared to its average volume of 963,709. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 2.12. The company has a market cap of $42.07 billion, a PE ratio of 31.80, a P/E/G ratio of 2.27 and a beta of 1.50. The stock’s 50-day simple moving average is $245.15 and its two-hundred day simple moving average is $223.79. 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 data on Wednesday, February 14th. The medical research company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.82 by $0.02. IQVIA had a return on equity of 29.32% and a net margin of 9.06%. The firm had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.80 billion. During the same quarter last year, the business posted $2.54 earnings per share. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that IQVIA Holdings Inc. will post 10.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on IQV. Guggenheim cut shares of IQVIA from a “buy” rating to a “neutral” rating in a research note on Thursday, February 15th. Leerink Partnrs reiterated an “outperform” rating on shares of IQVIA in a research note on Monday, February 26th. Barclays boosted their price objective on shares of IQVIA from $260.00 to $265.00 and gave the company an “overweight” rating in a research report on Thursday, February 15th. Truist Financial raised their target price on IQVIA from $286.00 to $297.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Finally, UBS Group raised their price objective on IQVIA from $240.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $256.80.

About IQVIA

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.