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PRXL

Acquired by Pamplona Capital 9/17

$57.51

0.25 (0.44%)

10:10
11/22/16
11/22
10:10
11/22/16
10:10

PAREXEL announces $200M accelerated share repurchase program

PAREXEL announced that the company entered into an accelerated share repurchase agreement with HSBC Bank USA, National Association, to purchase shares of its common stock for an aggregate purchase price of $200M. The company is acquiring these shares as part of the stock repurchase plan authorized by the Board that was announced on October 26. Pursuant to the agreement, on November 23, the company will initially receive approximately 2.8M shares of common stock, representing 80% of the shares to be repurchased by the company under the Agreement. The shares will be repurchased at a price of $57.51 per share, which was the closing price of the common stock on November 21. The total number of shares ultimately repurchased by PAREXEL under the agreement will be determined upon final settlement, using prices based generally on the volume-weighted average price of the company's common stock over a period of time not expected to exceed six months. These shares will be cancelled and restored to the status of authorized and unissued shares. The company intends to use cash on hand, cash generated from operations, existing credit facilities or other financing to fund the share repurchase program.

  • 30

    Nov

PRXL Acquired by Pamplona Capital 9/17
$57.51

0.25 (0.44%)

11/11/16
RHCO
11/11/16
DOWNGRADE
RHCO
Hold
PAREXEL downgraded to Hold from Buy at SunTrust
11/11/16
RHCO
11/11/16
DOWNGRADE
RHCO
Hold
PAREXEL downgraded on execution risk at SunTrust
As noted earlier, SunTrust downgraded PAEXEL to Hold from Buy. Analyst Sandy Draper downgraded the stock after the company announced that it was delaying the issuance of its 10Q due to inappropriate revenue recognition issues. The analyst says that this news, along with the delay of its previous 10Q due to financial irregularities, the unexpected departure of its CFO and its cancellation of strategic partnerships earlier this year, lead him to question the company's execution and controls. Target $60.
11/17/16
FANA
11/17/16
DOWNGRADE
FANA
Equal-Weight
PAREXEL downgraded to Equal-Weight from Overweight at First Analysis
11/17/16
FANA
11/17/16
DOWNGRADE
Target $62
FANA
Equal-Weight
PAREXEL downgraded to Equal-Weight from Overweight at First Analysis
First Analysis analyst Steven Schwartz downgraded PAREXEL to Equal-Weight citing uncertainty for revenue and earnings growth. The company is seeing a higher level of project cancellations and lower backlog conversion, Schwartz tells investors in a research note. He lowered his price target for the shares to $62 from $85.

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ANDX

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TRNC

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RKDA

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