SG Americas Securities LLC raised its position in PPD, Inc. (NASDAQ:PPD) by 188.9% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 40,931 shares of the company’s stock after acquiring an additional 26,765 shares during the period. SG Americas Securities LLC’s holdings in PPD were worth $1,401,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Boston Partners lifted its stake in PPD by 0.8% in the 4th quarter. Boston Partners now owns 2,920,286 shares of the company’s stock valued at $99,932,000 after acquiring an additional 24,077 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in shares of PPD during the 4th quarter worth approximately $151,000. State of Wisconsin Investment Board increased its holdings in shares of PPD by 33.1% during the 4th quarter. State of Wisconsin Investment Board now owns 280,929 shares of the company’s stock worth $9,613,000 after acquiring an additional 69,809 shares during the last quarter. California Public Employees Retirement System increased its holdings in shares of PPD by 36.0% during the 4th quarter. California Public Employees Retirement System now owns 389,627 shares of the company’s stock worth $13,333,000 after acquiring an additional 103,172 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new position in shares of PPD during the 4th quarter worth approximately $705,000. Hedge funds and other institutional investors own 68.82% of the company’s stock.
Shares of PPD stock opened at $36.58 on Tuesday. PPD, Inc. has a twelve month low of $10.61 and a twelve month high of $38.76. The company has a market cap of $12.79 billion and a P/E ratio of 243.87. The business has a fifty day simple moving average of $35.68 and a 200 day simple moving average of $34.61.
In related news, CEO David S. Simmons sold 77,065 shares of the company’s stock in a transaction on Friday, February 12th. The stock was sold at an average price of $38.01, for a total transaction of $2,929,240.65. Following the completion of the sale, the chief executive officer now directly owns 669,999 shares in the company, valued at approximately $25,466,661.99. The sale was disclosed in a filing with the SEC, which is available through this link.
PPD has been the topic of a number of recent analyst reports. Zacks Investment Research raised PPD from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a report on Tuesday, November 17th. Deutsche Bank Aktiengesellschaft upped their price objective on PPD from $33.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, October 29th. Seventeen analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and an average target price of $35.06.
PPD Company Profile
PPD, Inc provides drug development services to the biopharmaceutical industry worldwide. The company operates through Clinical Development Services and Laboratory Services segments. It offers clinical development services, including product development and consulting, early development, Phases II-IV clinical trial management, accelerated enrollment, peri- and post-approval, and medical communications services.
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