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PAREXEL International Corp (PRXL.OQ)

PRXL.OQ on NASDAQ Stock Exchange Global Select Market

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Latest Key Developments (Source: Significant Developments)

Starboard Value LP reports 5.7 pct stake in PAREXEL International
Thursday, 11 May 2017 06:24am EDT 

May 11 (Reuters) - Parexel International Corp :Starboard value lp reports 5.7 percent stake in parexel international -sec filing.Starboard value lp says parexel shares "undervalued".Starboard value lp says parexel has 'substantial opportunity' to improve operating margins as compared to peers.Starboard value lp says parexel should explore strategic alternatives, says there would be 'significant buyer interest'.  Full Article

Starboard Value has taken 5.7 pct stake in Parexel International- WSJ
Wednesday, 10 May 2017 10:05pm EDT 

May 10 (Reuters) - :Activist investor Starboard Value LP has taken 5.7 percent stake in Parexel International Corp- WSJ, citing sources.  Full Article

Parexel International is working with investment bankers to explore sale- WSJ, citing sources
Monday, 8 May 2017 01:22pm EDT 

May 8 (Reuters) - :Parexel International is working with investment bankers to explore sale- WSJ, citing sources.Parexel International has drawn interest from activist investors, including Corvex Management, which has built sizable stake in co-WSJ, citing sources.  Full Article

PAREXEL International reports Q3 GAAP earnings per share $0.35
Wednesday, 3 May 2017 04:42pm EDT 

May 3 (Reuters) - PAREXEL International Corp ::PAREXEL International reports third quarter fiscal year 2017 results.Q3 GAAP earnings per share $0.35.Q3 earnings per share view $0.74 -- Thomson Reuters I/B/E/S.Q3 adjusted earnings per share $0.74.Company adopts new policy for reporting new business and backlog to align with emerging industry norm.Restructuring program expanded.Backlog at end of Q3 was $4.06 billion.Expects approximately $1.56 billion of backlog to convert into revenue in next twelve months.Expect total annual savings of $75-85 million from restructuring activities in fiscal year 2018.Remain committed to longer-term goal of 14-16% adjusted operating margin.Sees FY 2017 GAAP EPS $2.04 - $2.18.Remains "committed" to longer-term goal of 14-16% adjusted operating margin.Sees FY 2017 Non-GAAP EPS $3.17 - $3.31.Sees FY 2017 revenue $2.09 billion - $2.11 billion.FY2017 earnings per share view $3.23, revenue view $2.12 billion -- Thomson Reuters I/B/E/S.Q3 total revenue $605.2 million versus $611.4 million .  Full Article

Parexel International updates on share repurchase program
Thursday, 2 Mar 2017 05:41pm EST 

Parexel International Corp : Parexel International - on Feb 27, co entered into amendment to letter agreement regarding accelerated share repurchase program dated Nov 21, 2016 .Parexel International - as per amendment, neither co or HSBC is required to deliver shares of common stock of co greater than 7.5 million - sec filing.  Full Article

Parexel International appoints Simon Harford as CFO
Tuesday, 28 Feb 2017 07:00am EST 

Parexel International Corp : Parexel International appoints Simon Harford as senior vice president and chief financial officer .Parexel International Corp - Appointment of Simon Harford as chief financial officer effective June 1, 2017.  Full Article

Parexel International reports Q2 GAAP earnings $0.41/shr
Wednesday, 1 Feb 2017 11:18pm EST 

Parexel International Corp : Parexel international reports second quarter fiscal year 2017 results . Q2 adjusted earnings per share $0.85 . Q2 gaap earnings per share $0.41 . Q2 earnings per share view $0.84 -- Thomson Reuters I/B/E/S . Qtrly backlog increased 8.4% year-over-year to $5.94 billion . Qtrly service revenue of $534.4 million, up 3.1% . Sees FY 2017 non-gaap earnings per share $3.15 to $3.43 . Sees FY 2017 revenue $2.08 billion to $2.12 billion . Sees FY 2017 gaap earnings per share $2.30 to $2.58 . Qtrly total revenue $612.2 million versus $604.2 million . Q2 revenue view $537.3 million -- Thomson Reuters I/B/E/S .Fy2017 earnings per share view $3.75, revenue view $2.15 billion -- Thomson Reuters I/B/E/S.  Full Article

Parexel International approved plan to restructure its operations on Jan. 6, 2017,
Monday, 9 Jan 2017 04:48pm EST 

Parexel International Corp : Parexel international corp - on January 6, 2017, approved plan to restructure its operations - sec filing . Parexel international corp - restructuring initiative is company-wide . Parexel international - actions are expected to result in pre-tax charges in range of $25 - $35 million, all of which are anticipated to be cash expenditures . Parexel international-charges will include about $24 million to $32 million in employee separation costs and approximately $1 million to $3 million in other costs . Parexel international - expects to record a pre-tax charge in q3 of fiscal year ending june 30, 2017 in range of $20 million to $27 million . Co anticipates completing restructuring activities by end of fiscal year 2018 . Parexel international corp - expects charges to result in annual pre-tax savings of approximately $7 million to $10 million over course of fiscal year 2017 . Parexel international - expects to record remainder of charges to be incurred by end of fiscal year ending june 30, 2018 .Parexel international corp - expects charges to result in approximately $30 million to $40 million on an annualized basis when plans fully completed.  Full Article

Parexel International enters into short term unsecured revolving credit facility on Dec 23- SEC filing
Friday, 23 Dec 2016 03:33pm EST 

Parexel International Corp: On December 23, 2016, Co entered into short term unsecured revolving credit facility- SEC filing . All outstanding loans under facility mature on June 22, 2017 .Facility provides for loans in aggregate principal amount of up to $100 million at any time outstanding.  Full Article

Parexel International Corp files for non-timely 10-Q
Thursday, 10 Nov 2016 06:03pm EST 

Parexel International Corp : Parexel International Corp files for non-timely 10-Q - sec filing . Parexel International - identified potential errors related to timing of revenue recognition with regard to clinical research services business segment .Parexel International- anticipates correction of errors to have adverse impact on revenue of about $6.7 million and on eps of about $0.08 for quarter ended sept 30.  Full Article

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Deals of the day-Mergers and acquisitions

May 11 The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Thursday: