Susquehanna Fundamental Investments LLC Sells 9,240 Shares of PPD, Inc. (NASDAQ:PPD)

Susquehanna Fundamental Investments LLC trimmed its holdings in shares of PPD, Inc. (NASDAQ:PPD) by 22.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,398 shares of the company’s stock after selling 9,240 shares during the period. Susquehanna Fundamental Investments LLC’s holdings in PPD were worth $1,493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the business. Alpine Associates Management Inc. bought a new position in PPD during the 2nd quarter worth about $162,287,000. Toronto Dominion Bank grew its holdings in PPD by 9.9% during the 2nd quarter. Toronto Dominion Bank now owns 18,186 shares of the company’s stock worth $860,000 after acquiring an additional 1,645 shares in the last quarter. Asahi Life Asset Management CO. LTD. bought a new position in PPD during the 2nd quarter worth about $166,000. Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of PPD by 299.6% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 29,970 shares of the company’s stock valued at $1,381,000 after buying an additional 22,470 shares in the last quarter. Finally, Aviva PLC bought a new stake in shares of PPD in the 2nd quarter valued at about $491,000. Institutional investors own 87.87% of the company’s stock.

PPD stock opened at $46.85 on Friday. The firm has a 50 day moving average of $46.34 and a 200 day moving average of $44.55. The stock has a market capitalization of $16.46 billion, a PE ratio of 65.07, a price-to-earnings-growth ratio of 2.32 and a beta of 2.22. PPD, Inc. has a 52 week low of $31.54 and a 52 week high of $46.99.

PPD (NASDAQ:PPD) last released its earnings results on Wednesday, July 28th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.05. The company had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.34 billion. PPD had a net margin of 3.85% and a negative return on equity of 53.95%. Sell-side analysts anticipate that PPD, Inc. will post 1.32 earnings per share for the current year.

PPD has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of PPD to a “buy” rating and set a $47.00 price target on the stock in a report on Tuesday, August 31st. Zacks Investment Research upgraded shares of PPD from a “sell” rating to a “hold” rating in a report on Saturday. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $45.60.

PPD Company Profile

PPD, Inc, together with its subsidiaries, provides drug development services to the biopharmaceutical industry worldwide. The company operates through two segments, Clinical Development Services and Laboratory Services. 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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Institutional Ownership by Quarter for PPD (NASDAQ:PPD)

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