Parnassus Investments LLC Reduces Position in IQVIA Holdings Inc. (NYSE:IQV)

Parnassus Investments LLC decreased its holdings in IQVIA Holdings Inc. (NYSE:IQV) by 20.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 352,543 shares of the medical research company’s stock after selling 92,612 shares during the quarter. Parnassus Investments LLC’s holdings in IQVIA were worth $83,542,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Covestor Ltd boosted its holdings in IQVIA by 45.3% in the first quarter. Covestor Ltd now owns 154 shares of the medical research company’s stock worth $39,000 after purchasing an additional 48 shares during the last quarter. O Shaughnessy Asset Management LLC grew its holdings in shares of IQVIA by 25.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 7,501 shares of the medical research company’s stock worth $1,897,000 after acquiring an additional 1,513 shares during the period. UniSuper Management Pty Ltd increased its position in IQVIA by 253.0% during the first quarter. UniSuper Management Pty Ltd now owns 6,029 shares of the medical research company’s stock valued at $1,525,000 after acquiring an additional 4,321 shares during the last quarter. Lake Street Advisors Group LLC bought a new position in IQVIA in the first quarter valued at about $339,000. Finally, CANADA LIFE ASSURANCE Co boosted its position in IQVIA by 5.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 157,380 shares of the medical research company’s stock worth $39,807,000 after purchasing an additional 7,544 shares during the last quarter. Institutional investors own 89.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Redburn Atlantic started coverage on shares of IQVIA in a research report on Monday, October 14th. They set a “buy” rating and a $276.00 price target for the company. Deutsche Bank Aktiengesellschaft decreased their price target on shares of IQVIA from $270.00 to $265.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Truist Financial reduced their price objective on IQVIA from $286.00 to $265.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Evercore ISI decreased their target price on IQVIA from $270.00 to $265.00 and set an “outperform” rating on the stock in a report on Tuesday, October 8th. Finally, BTIG Research cut their price target on IQVIA from $290.00 to $260.00 and set a “buy” rating for the company in a report on Friday, November 1st. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $259.13.

Insider Activity at IQVIA

In related news, insider Eric Sherbet sold 1,300 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $246.33, for a total value of $320,229.00. Following the sale, the insider now directly owns 19,536 shares in the company, valued at approximately $4,812,302.88. The trade was a 6.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

IQVIA Trading Down 0.8 %

IQVIA stock opened at $191.19 on Tuesday. IQVIA Holdings Inc. has a 1 year low of $187.62 and a 1 year high of $261.73. The firm’s 50 day moving average price is $225.96 and its 200-day moving average price is $228.02. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market cap of $34.70 billion, a P/E ratio of 25.09, a PEG ratio of 1.98 and a beta of 1.51.

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.