Todays Report: Today, Wells Fargo & Co. Downgrade Parexel International Corp. (PRXL) to Market Perform

Today, Wells Fargo & Co. Downgrade Parexel International Corp. (PRXL) to Market Perform

Parexel International Corp. (NASDAQ:PRXL) was downgraded by equities researchers at Wells Fargo & Co. from an “outperform” rating to a “market perform” rating in a research note issued to investors on Wednesday.

A number of other brokerages have also issued reports on PRXL. Credit Suisse Group AG reiterated a “buy” rating on shares of Parexel International Corp. in a research report on Tuesday, September 27th. Deutsche Bank AG increased their price objective on shares of Parexel International Corp. from $65.00 to $71.00 and gave the company a “hold” rating in a report on Friday, August 5th. Citigroup Inc. increased their price objective on shares of Parexel International Corp. from $74.00 to $80.00 and gave the company a “buy” rating in a report on Friday, August 5th. Evercore ISI restated a “buy” rating and issued a $78.50 price objective (up from $71.00) on shares of Parexel International Corp. in a report on Friday, August 5th. Finally, Jefferies Group increased their price objective on shares of Parexel International Corp. from $70.00 to $72.50 and gave the company a “hold” rating in a report on Friday, August 5th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $66.70.

Parexel International Corp. (NASDAQ:PRXL) opened at 58.16 on Wednesday. The stock’s 50 day moving average is $62.05 and its 200 day moving average is $64.14. The stock has a market capitalization of $3.10 billion, a PE ratio of 18.64 and a beta of 0.91. Parexel International Corp. has a 12-month low of $51.16 and a 12-month high of $71.13.

Parexel International Corp. (NASDAQ:PRXL) last announced its earnings results on Wednesday, October 26th. The company reported $0.76 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.86 by $0.10. Parexel International Corp. had a return on equity of 30.71% and a net margin of 7.09%. The company had revenue of $500.90 million for the quarter, compared to analyst estimates of $525.15 million. During the same quarter in the previous year, the company posted $0.70 earnings per share. Parexel International Corp.’s revenue for the quarter was down 2.2% on a year-over-year basis. Analysts forecast that Parexel International Corp. will post $3.75 EPS for the current year.

Several large investors have recently modified their holdings of PRXL. Quantbot Technologies LP increased its stake in shares of Parexel International Corp. by 644.3% in the second quarter. Quantbot Technologies LP now owns 1,630 shares of the company’s stock valued at $102,000 after buying an additional 1,411 shares in the last quarter. MSI Financial Services Inc increased its stake in shares of Parexel International Corp. by 17.4% in the third quarter. MSI Financial Services Inc now owns 1,690 shares of the company’s stock valued at $117,000 after buying an additional 250 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Parexel International Corp. by 13.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,806 shares of the company’s stock valued at $125,000 after buying an additional 213 shares in the last quarter. Robecosam AG increased its stake in shares of Parexel International Corp. by 40.1% in the second quarter. Robecosam AG now owns 2,200 shares of the company’s stock valued at $132,000 after buying an additional 630 shares in the last quarter. Finally, Paradigm Asset Management Co. LLC increased its stake in shares of Parexel International Corp. by 683.3% in the second quarter. Paradigm Asset Management Co. LLC now owns 2,350 shares of the company’s stock valued at $148,000 after buying an additional 2,050 shares in the last quarter. 96.13% of the stock is owned by institutional investors.

About Parexel International Corp.

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