Bayesian Capital Management LP Has $240,000 Stock Holdings in Parsons Co. (NYSE:PSN)

Bayesian Capital Management LP trimmed its position in Parsons Co. (NYSE:PSN - Free Report) by 71.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,600 shares of the company's stock after selling 6,400 shares during the quarter. Bayesian Capital Management LP's holdings in Parsons were worth $240,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Artisan Partners Limited Partnership increased its position in Parsons by 271.6% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,069,724 shares of the company's stock worth $190,932,000 after acquiring an additional 1,512,812 shares during the period. Raymond James Financial Inc. bought a new position in shares of Parsons during the fourth quarter worth approximately $63,417,000. Norges Bank acquired a new stake in shares of Parsons in the fourth quarter valued at approximately $59,447,000. Freestone Grove Partners LP bought a new stake in shares of Parsons in the fourth quarter valued at approximately $40,318,000. Finally, FIL Ltd acquired a new stake in Parsons during the fourth quarter worth approximately $27,868,000. Institutional investors and hedge funds own 98.02% of the company's stock.

Analyst Ratings Changes

PSN has been the topic of several recent analyst reports. Robert W. Baird lowered shares of Parsons from an "outperform" rating to a "neutral" rating and decreased their target price for the company from $72.00 to $69.00 in a report on Thursday, May 1st. Jefferies Financial Group reiterated a "hold" rating and issued a $65.00 price target (down previously from $75.00) on shares of Parsons in a research note on Monday, May 5th. Truist Financial restated a "buy" rating and set a $80.00 price objective (up from $70.00) on shares of Parsons in a research report on Thursday, May 1st. William Blair upgraded Parsons from a "market perform" rating to an "outperform" rating in a research report on Tuesday, February 18th. Finally, Bank of America reduced their price target on shares of Parsons from $130.00 to $110.00 and set a "buy" rating on the stock in a research note on Tuesday, April 1st. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $90.20.

Parsons Trading Down 0.1 %

Shares of PSN stock traded down $0.07 during trading hours on Friday, hitting $63.97. 771,218 shares of the company's stock traded hands, compared to its average volume of 1,121,032. The stock has a market cap of $6.84 billion, a PE ratio of 84.17, a price-to-earnings-growth ratio of 0.93 and a beta of 0.57. The company has a quick ratio of 1.55, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. Parsons Co. has a 12 month low of $54.56 and a 12 month high of $114.68. The stock's 50 day simple moving average is $61.93 and its 200 day simple moving average is $80.33.

Parsons declared that its board has approved a share buyback program on Monday, March 24th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its shares are undervalued.

Parsons Company 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.