PNC Financial Services Group Inc. Raises Stock Position in IQVIA Holdings Inc. (NYSE:IQV)

PNC Financial Services Group Inc. boosted its stake in IQVIA Holdings Inc. (NYSE:IQV) by 4.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,380 shares of the medical research company’s stock after purchasing an additional 1,943 shares during the period. PNC Financial Services Group Inc.’s holdings in IQVIA were worth $10,037,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in IQV. Duality Advisers LP purchased a new position in IQVIA in the 3rd quarter worth approximately $491,000. Principal Financial Group Inc. grew its holdings in IQVIA by 0.5% during the 3rd quarter. Principal Financial Group Inc. now owns 225,891 shares of the medical research company’s stock valued at $44,444,000 after purchasing an additional 1,162 shares in the last quarter. Private Advisor Group LLC increased its stake in IQVIA by 1.2% during the 3rd quarter. Private Advisor Group LLC now owns 4,818 shares of the medical research company’s stock worth $948,000 after buying an additional 56 shares during the period. MGO One Seven LLC boosted its position in IQVIA by 31.5% in the 3rd quarter. MGO One Seven LLC now owns 3,065 shares of the medical research company’s stock valued at $603,000 after buying an additional 734 shares during the last quarter. Finally, Column Capital Advisors LLC grew its stake in shares of IQVIA by 30.1% during the third quarter. Column Capital Advisors LLC now owns 346 shares of the medical research company’s stock valued at $68,000 after acquiring an additional 80 shares in the last quarter. 89.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IQV has been the topic of several research analyst reports. UBS Group increased their price target on shares of IQVIA from $240.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. Truist Financial reduced their price objective on IQVIA from $297.00 to $292.00 and set a “buy” rating for the company in a research report on Friday, May 3rd. Barclays increased their target price on IQVIA from $260.00 to $265.00 and gave the stock an “overweight” rating in a research report on Thursday, February 15th. Guggenheim downgraded shares of IQVIA from a “buy” rating to a “neutral” rating in a research report on Thursday, February 15th. Finally, Robert W. Baird dropped their price target on shares of IQVIA from $254.00 to $245.00 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $257.57.

Insider Buying and Selling

In related news, insider Ari Bousbib sold 31,678 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $250.53, for a total transaction of $7,936,289.34. Following the completion of the sale, the insider now directly owns 796,752 shares in the company, valued at $199,610,278.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Kevin C. Knightly sold 8,607 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $250.17, for a total transaction of $2,153,213.19. Following the sale, the insider now owns 5,251 shares in the company, valued at $1,313,642.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ari Bousbib sold 31,678 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $250.53, for a total transaction of $7,936,289.34. Following the completion of the transaction, the insider now directly owns 796,752 shares of the company’s stock, valued at approximately $199,610,278.56. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

IQVIA Price Performance

Shares of NYSE IQV opened at $226.00 on Thursday. IQVIA Holdings Inc. has a twelve month low of $167.42 and a twelve month high of $261.73. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 2.02. The firm has a 50-day moving average of $238.14 and a two-hundred day moving average of $228.32. The company has a market capitalization of $41.18 billion, a price-to-earnings ratio of 30.87, a PEG ratio of 2.09 and a beta of 1.52.

About IQVIA

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.