10,685 Shares in Parsons Co. (NYSE:PSN) Bought by Occudo Quantitative Strategies LP

Occudo Quantitative Strategies LP acquired a new position in Parsons Co. (NYSE:PSN) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 10,685 shares of the company’s stock, valued at approximately $986,000.

Several other large investors also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Parsons by 0.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 14,207 shares of the company’s stock worth $1,311,000 after buying an additional 131 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of Parsons by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 3,287 shares of the company’s stock worth $303,000 after purchasing an additional 163 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Parsons by 0.6% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 32,126 shares of the company’s stock worth $2,964,000 after purchasing an additional 191 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Parsons by 224.7% during the fourth quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock valued at $29,000 after purchasing an additional 218 shares in the last quarter. Finally, Xponance Inc. lifted its holdings in Parsons by 5.0% in the fourth quarter. Xponance Inc. now owns 5,254 shares of the company’s stock worth $485,000 after purchasing an additional 250 shares during the period. Institutional investors and hedge funds own 98.02% of the company’s stock.

Parsons Trading Up 0.3%

Shares of PSN opened at $65.27 on Wednesday. The business’s 50-day moving average price is $62.22 and its 200 day moving average price is $79.78. The company has a current ratio of 1.29, a quick ratio of 1.55 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $6.98 billion, a P/E ratio of 85.88, a P/E/G ratio of 0.93 and a beta of 0.57. Parsons Co. has a 1-year low of $54.56 and a 1-year high of $114.68.

Parsons announced that its board has initiated a share buyback plan on Monday, March 24th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 3.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts have commented on PSN shares. Truist Financial reissued a “buy” rating and set a $80.00 target price (up previously from $70.00) on shares of Parsons in a research note on Thursday, May 1st. Jefferies Financial Group reiterated a “hold” rating and set a $65.00 price objective (down previously from $75.00) on shares of Parsons in a research note on Monday, May 5th. Benchmark restated a “buy” rating and issued a $90.00 target price on shares of Parsons in a research report on Wednesday, February 26th. The Goldman Sachs Group lowered their price target on Parsons from $109.00 to $98.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Finally, TD Cowen lowered Parsons from a “buy” rating to a “hold” rating and set a $105.00 price objective for the company. in a report on Friday, February 21st. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Parsons presently has an average rating of “Moderate Buy” and an average price target of $90.20.

Parsons Profile

Parsons Corporation provides integrated solutions and services in the defense, intelligence, and critical infrastructure markets in North America, the Middle East, and internationally. The company operates through Federal Solutions and Critical Infrastructure segments. The Federal Solutions segment provides critical technologies, such as cybersecurity; missile defense; intelligence; space launch and ground systems; space and weapon system resiliency; geospatial intelligence; signals intelligence; environmental remediation; border security, critical infrastructure protection; counter unmanned air systems; biometrics and bio surveillance solutions to U.S.