Cubist Systematic Strategies LLC Grows Stock Holdings in Parsons Co. (NYSE:PSN)

Cubist Systematic Strategies LLC lifted its stake in Parsons Co. (NYSE:PSN - Free Report) by 11,272.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 193,324 shares of the company's stock after buying an additional 191,624 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.18% of Parsons worth $17,834,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Parsons by 0.9% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 14,207 shares of the company's stock valued at $1,311,000 after buying an additional 131 shares during the period. CIBC Asset Management Inc lifted its holdings in Parsons by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 3,287 shares of the company's stock valued at $303,000 after purchasing an additional 163 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Parsons by 0.6% during the 4th 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 during the last quarter. GAMMA Investing LLC increased its stake in Parsons by 224.7% during the 4th quarter. GAMMA Investing LLC now owns 315 shares of the company's stock worth $29,000 after buying an additional 218 shares in the last quarter. Finally, Xponance Inc. raised its holdings in Parsons by 5.0% in the 4th quarter. Xponance Inc. now owns 5,254 shares of the company's stock valued at $485,000 after acquiring an additional 250 shares during the last quarter. 98.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. William Blair upgraded Parsons from a "market perform" rating to an "outperform" rating in a research report on Tuesday, February 18th. KeyCorp reduced their target price on shares of Parsons from $76.00 to $73.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $65.00 target price (down previously from $75.00) on shares of Parsons in a report on Monday. Benchmark reiterated a "buy" rating and set a $90.00 target price on shares of Parsons in a research note on Wednesday, February 26th. Finally, The Goldman Sachs Group cut their target price on Parsons from $109.00 to $98.00 and set a "buy" rating on the stock in a research report on Tuesday, February 25th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $90.20.

Parsons Trading Down 2.8 %

NYSE:PSN opened at $61.05 on Tuesday. The company has a quick ratio of 1.55, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $6.52 billion, a PE ratio of 80.33, a price-to-earnings-growth ratio of 0.93 and a beta of 0.57. The stock has a fifty day simple moving average of $61.45 and a 200-day simple moving average of $81.35. Parsons Co. has a 52-week low of $54.56 and a 52-week high of $114.68.

Parsons declared that its Board of Directors has authorized a share buyback plan on Monday, March 24th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 3.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

About Parsons

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.

Want to see what other hedge funds are holding PSN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Parsons Co. (NYSE:PSN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.