Alps Advisors Inc. Lowers Position in Parexel International Corp. (PRXL)
Alps Advisors Inc. cut its stake in Parexel International Corp. (NASDAQ:PRXL) by 6.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,727 shares of the company’s stock after selling 496 shares during the period. Alps Advisors Inc.’s holdings in Parexel International Corp. were worth $423,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the company. LaSalle Street Capital Management LLC acquired a new stake in Parexel International Corp. during the second quarter valued at about $203,000. Magnetar Financial LLC acquired a new stake in Parexel International Corp. during the first quarter valued at about $215,000. LS Investment Advisors LLC raised its stake in Parexel International Corp. by 64.0% in the second quarter. LS Investment Advisors LLC now owns 3,501 shares of the company’s stock valued at $220,000 after buying an additional 1,366 shares during the last quarter. M&T Bank Corp acquired a new stake in Parexel International Corp. during the first quarter valued at about $276,000. Finally, Eqis Capital Management Inc. raised its stake in Parexel International Corp. by 21.9% in the second quarter. Eqis Capital Management Inc. now owns 5,098 shares of the company’s stock valued at $321,000 after buying an additional 916 shares during the last quarter. 95.59% of the stock is owned by institutional investors.
Parexel International Corp. (NASDAQ:PRXL) traded up 0.39% on Friday, hitting $68.87. 291,544 shares of the stock were exchanged. The company’s 50 day moving average is $68.52 and its 200 day moving average is $64.65. Parexel International Corp. has a 1-year low of $56.00 and a 1-year high of $71.13. The stock has a market cap of $3.66 billion, a PE ratio of 24.08 and a beta of 0.92.
Parexel International Corp. (NASDAQ:PRXL) last posted its earnings results on Wednesday, August 3rd. The company reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.01. The firm earned $538.60 million during the quarter, compared to analysts’ expectations of $532.41 million. Parexel International Corp. had a net margin of 6.44% and a return on equity of 33.29%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.79 earnings per share. On average, equities research analysts expect that Parexel International Corp. will post $3.92 earnings per share for the current year.
Several equities research analysts have recently issued reports on the stock. Credit Suisse Group AG reissued a “buy” rating on shares of Parexel International Corp. in a research report on Tuesday, September 27th. Robert W. Baird reaffirmed an “outperform” rating and set a $73.00 price target on shares of Parexel International Corp. in a report on Monday, June 27th. Citigroup Inc. reaffirmed a “buy” rating and set a $74.00 price target (up from $72.00) on shares of Parexel International Corp. in a report on Tuesday, July 5th. William Blair lowered shares of Parexel International Corp. from an “outperform” rating to a “market perform” rating in a report on Monday, July 18th. Finally, Zacks Investment Research lowered shares of Parexel International Corp. from a “hold” rating to a “sell” rating in a report on Thursday, June 30th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $71.75.
In other Parexel International Corp. news, insider Gadi Saarony sold 2,500 shares of Parexel International Corp. stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $70.05, for a total value of $175,125.00. Following the completion of the sale, the insider now directly owns 9,417 shares in the company, valued at $659,660.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.70% of the stock is currently owned by company insiders.
About Parexel International Corp.
PAREXEL International Corporation (PAREXEL) is a biopharmaceutical outsourcing services company, which provides a range of expertise in clinical research, clinical logistics, medical communications, consulting, commercialization, and advanced technology products and services to the pharmaceutical, biotechnology and medical device industries across the world.
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