PNC Financial Services Group Inc. Buys 7,804 Shares of IQVIA Holdings Inc. (NYSE:IQV)

PNC Financial Services Group Inc. increased its holdings in shares of IQVIA Holdings Inc. (NYSE:IQV - Free Report) by 18.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 50,364 shares of the medical research company's stock after acquiring an additional 7,804 shares during the quarter. PNC Financial Services Group Inc.'s holdings in IQVIA were worth $11,935,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of IQV. Covestor Ltd grew its position in IQVIA by 45.3% during the first quarter. Covestor Ltd now owns 154 shares of the medical research company's stock valued at $39,000 after buying an additional 48 shares during the period. Advisors Asset Management Inc. increased its stake in shares of IQVIA by 106.4% during the 1st quarter. Advisors Asset Management Inc. now owns 1,298 shares of the medical research company's stock worth $328,000 after purchasing an additional 669 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of IQVIA in the 1st quarter worth approximately $3,365,000. LRI Investments LLC purchased a new position in IQVIA in the first quarter valued at approximately $157,000. Finally, Magnetar Financial LLC bought a new position in IQVIA during the first quarter valued at $2,066,000. Hedge funds and other institutional investors own 89.62% of the company's stock.

IQVIA Trading Up 2.1 %

IQV stock traded up $4.22 during trading on Friday, hitting $201.82. 1,887,846 shares of the company traded hands, compared to its average volume of 2,206,617. The company has a 50-day moving average of $222.67 and a 200-day moving average of $227.18. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.81 and a current ratio of 0.81. IQVIA Holdings Inc. has a 1 year low of $187.62 and a 1 year high of $261.73. The firm has a market capitalization of $36.63 billion, a PE ratio of 26.49, a P/E/G ratio of 2.03 and a beta of 1.51.

Insider Buying and Selling

In related news, insider Eric Sherbet sold 1,300 shares of the firm'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 of the company's stock, valued at $4,812,302.88. This trade represents a 6.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on IQV. Morgan Stanley dropped their price target on IQVIA from $280.00 to $265.00 and set an "overweight" rating on the stock in a research report on Monday, November 4th. Redburn Atlantic started coverage on shares of IQVIA in a report on Monday, October 14th. They set a "buy" rating and a $276.00 price objective on the stock. Leerink Partners reiterated an "outperform" rating and issued a $248.00 target price (down previously from $260.00) on shares of IQVIA in a research note on Tuesday. Royal Bank of Canada restated an "outperform" rating and set a $270.00 price target on shares of IQVIA in a research note on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of IQVIA from $270.00 to $265.00 and set a "buy" rating on the stock in a report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $256.50.

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.