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.
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.
