Retirement Systems of Alabama Trims Holdings in IQVIA Holdings Inc. (NYSE:IQV)

Retirement Systems of Alabama cut its position in shares of IQVIA Holdings Inc. (NYSE:IQV) by 5.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,828 shares of the medical research company’s stock after selling 2,362 shares during the quarter. Retirement Systems of Alabama’s holdings in IQVIA were worth $8,964,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Blue Trust Inc. lifted its stake in shares of IQVIA by 702.9% during the 2nd quarter. Blue Trust Inc. now owns 281 shares of the medical research company’s stock worth $59,000 after purchasing an additional 246 shares during the period. First Citizens Bank & Trust Co. lifted its position in IQVIA by 12.1% during the second quarter. First Citizens Bank & Trust Co. now owns 3,778 shares of the medical research company’s stock worth $799,000 after buying an additional 409 shares during the period. Fifth Third Wealth Advisors LLC acquired a new stake in IQVIA in the 2nd quarter worth about $324,000. Leonard Rickey Investment Advisors P.L.L.C. grew its holdings in IQVIA by 33.0% in the 2nd quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 1,410 shares of the medical research company’s stock valued at $298,000 after buying an additional 350 shares during the period. Finally, Bowman & Co S.C. lifted its holdings in shares of IQVIA by 9.2% during the 2nd quarter. Bowman & Co S.C. now owns 4,852 shares of the medical research company’s stock worth $1,026,000 after acquiring an additional 407 shares during the period. Institutional investors and hedge funds own 89.62% of the company’s stock.

IQVIA Price Performance

IQV opened at $197.09 on Tuesday. IQVIA Holdings Inc. has a twelve month low of $187.62 and a twelve month high of $261.73. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.76. The firm has a market cap of $35.77 billion, a price-to-earnings ratio of 25.86, a PEG ratio of 2.05 and a beta of 1.49. The company has a fifty day simple moving average of $211.68 and a 200 day simple moving average of $224.03.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. TD Cowen lowered their target price on shares of IQVIA from $270.00 to $255.00 and set a “buy” rating for the company in a report on Friday, November 1st. Truist Financial dropped their price objective on IQVIA from $265.00 to $261.00 and set a “buy” rating for the company in a report on Thursday, December 12th. BTIG Research reduced their target price on IQVIA from $290.00 to $260.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Robert W. Baird dropped their price target on IQVIA from $213.00 to $212.00 and set a “neutral” rating for the company in a research note on Wednesday, December 11th. Finally, Redburn Atlantic initiated coverage on IQVIA in a research note on Monday, October 14th. They issued a “buy” rating and a $276.00 price objective on the stock. Four research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, IQVIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $256.19.

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.