PAREXEL International Corporation (NASDAQ:PRXL) was in 12 hedge funds’ portfolio at the end of March. PRXL shareholders have witnessed a decrease in support from the world’s most elite money managers lately. There were 20 hedge funds in our database with PRXL holdings at the end of the previous quarter.
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With these “truths” under our belt, we’re going to take a glance at the key action surrounding PAREXEL International Corporation (NASDAQ:PRXL).
Hedge fund activity in PAREXEL International Corporation (NASDAQ:PRXL)
In preparation for this quarter, a total of 12 of the hedge funds we track were bullish in this stock, a change of -40% from one quarter earlier. With hedgies’ capital changing hands, there exists a select group of noteworthy hedge fund managers who were upping their holdings substantially.
When looking at the hedgies we track, Fisher Asset Management, managed by Ken Fisher, holds the most valuable position in PAREXEL International Corporation (NASDAQ:PRXL). Fisher Asset Management has a $104.8 million position in the stock, comprising 0.3% of its 13F portfolio. Sitting at the No. 2 spot is Royce & Associates, managed by Chuck Royce, which held a $23.8 million position; the fund has 0.1% of its 13F portfolio invested in the stock. Some other hedgies that are bullish include Joel Greenblatt’s Gotham Asset Management, Jim Simons’s Renaissance Technologies and Peter Algert and Kevin Coldiron’s Algert Coldiron Investors.
Since PAREXEL International Corporation (NASDAQ:PRXL) has faced bearish sentiment from the entirety of the hedge funds we track, it’s safe to say that there is a sect of funds who sold off their positions entirely heading into Q2. It’s worth mentioning that Andrew Sandler’s Sandler Capital Management sold off the largest position of all the hedgies we watch, worth about $6 million in stock.. Ken Griffin’s fund, Citadel Investment Group, also sold off its stock, about $5.9 million worth. These transactions are intriguing to say the least, as aggregate hedge fund interest was cut by 8 funds heading into Q2.
What do corporate executives and insiders think about PAREXEL International Corporation (NASDAQ:PRXL)?
Insider buying is most useful when the company in focus has experienced transactions within the past half-year. Over the latest half-year time period, PAREXEL International Corporation (NASDAQ:PRXL) has experienced zero unique insiders purchasing, and 14 insider sales (see the details of insider trades here).
Let’s also examine hedge fund and insider activity 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). This group of stocks are in the medical laboratories & research industry and their market caps are similar to PRXL’s market cap.