In the financial world, there are plenty of metrics shareholders can use to track their holdings. Some of the most under-the-radar are hedge fund and insider trading activity. At Insider Monkey, our studies have shown that, historically, those who follow the best picks of the best money managers can trounce the broader indices by a significant margin (see just how much).
Equally as useful, positive insider trading activity is a second way to analyze the investments you’re interested in. Just as you’d expect, there are lots of stimuli for an upper level exec to drop shares of his or her company, but just one, very clear reason why they would initiate a purchase. Plenty of empirical studies have demonstrated the impressive potential of this tactic if shareholders know what to do (learn more here).
Keeping this in mind, let’s study the latest info about PAREXEL International Corporation (NASDAQ:PRXL).
How are hedge funds trading PAREXEL International Corporation (NASDAQ:PRXL)?
In preparation for the third quarter, a total of 16 of the hedge funds we track were bullish in this stock, a change of 33% from the first quarter. With hedgies’ capital changing hands, there exists an “upper tier” of key hedge fund managers who were increasing their holdings substantially.
When using filings from the hedgies we track, Fisher Asset Management, managed by Ken Fisher, holds the biggest position in PAREXEL International Corporation (NASDAQ:PRXL). Fisher Asset Management has a $121.8 million position in the stock, comprising 0.3% of its 13F portfolio. Coming in second is Royce & Associates, managed by Chuck Royce, which held a $25.5 million position; 0.1% of its 13F portfolio is allocated to the company. Remaining hedge funds with similar optimism include Jim Simons’s Renaissance Technologies, Joel Greenblatt’s Gotham Asset Management and Peter Algert and Kevin Coldiron’s Algert Coldiron Investors.
As one would understandably expect, certain bigger names were breaking ground themselves. Fisher Asset Management, managed by Ken Fisher, initiated the largest position in PAREXEL International Corporation (NASDAQ:PRXL). Fisher Asset Management had 121.8 million invested in the company at the end of the quarter. Chuck Royce’s Royce & Associates also initiated a $25.5 million position during the quarter. The other funds with brand new PRXL positions are Jim Simons’s Renaissance Technologies, Joel Greenblatt’s Gotham Asset Management, and Peter Algert and Kevin Coldiron’s Algert Coldiron Investors.
What do corporate executives and insiders think about PAREXEL International Corporation (NASDAQ:PRXL)?
Insider buying is most useful when the primary stock in question has experienced transactions within the past half-year. Over the last half-year time frame, PAREXEL International Corporation (NASDAQ:PRXL) has experienced zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).
We’ll go over the relationship between both of these indicators in other stocks similar to PAREXEL International Corporation (NASDAQ:PRXL). These stocks are Covance Inc. (NYSE:CVD), PerkinElmer, Inc. (NYSE:PKI), ICON plc – Ordinary Shares (NASDAQ:ICLR), Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD), and Alere Inc (NYSE:ALR). All of these stocks are in the medical laboratories & research industry and their market caps are closest to PRXL’s market cap.