4,081 Shares in Parsons Co. (NYSE:PSN) Bought by Dark Forest Capital Management LP

Dark Forest Capital Management LP purchased a new position in Parsons Co. (NYSE:PSN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,081 shares of the company's stock, valued at approximately $376,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Parsons by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 4,575,535 shares of the company's stock valued at $422,093,000 after acquiring an additional 59,545 shares during the last quarter. Artisan Partners Limited Partnership grew 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 valued at $190,932,000 after acquiring an additional 1,512,812 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Parsons by 14.2% in the 4th quarter. Invesco Ltd. now owns 2,056,390 shares of the company's stock valued at $189,702,000 after acquiring an additional 255,810 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Parsons by 18.1% during the third quarter. Principal Financial Group Inc. now owns 1,192,943 shares of the company's stock valued at $123,685,000 after purchasing an additional 183,117 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Parsons by 2.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,189,811 shares of the company's stock valued at $109,762,000 after buying an additional 26,230 shares during the period. Institutional investors own 98.02% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. KeyCorp reduced their price target on shares of Parsons from $76.00 to $73.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Truist Financial dropped their price target on shares of Parsons from $85.00 to $70.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Jefferies Financial Group decreased their price objective on shares of Parsons from $110.00 to $100.00 and set a "buy" rating for the company in a report on Friday, January 24th. The Goldman Sachs Group reduced their target price on Parsons from $109.00 to $98.00 and set a "buy" rating for the company in a report on Tuesday, February 25th. Finally, Bank of America lowered their price target on Parsons from $130.00 to $110.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Parsons currently has an average rating of "Moderate Buy" and an average target price of $93.60.

Parsons Price Performance

PSN traded down $1.91 during trading on Wednesday, reaching $66.75. The company's stock had a trading volume of 3,242,209 shares, compared to its average volume of 1,104,825. The firm has a fifty day simple moving average of $61.11 and a two-hundred day simple moving average of $82.77. 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 cap of $7.13 billion, a price-to-earnings ratio of 87.83, a PEG ratio of 0.93 and a beta of 0.66. 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 stock buyback program on Monday, March 24th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the company to repurchase up to 3.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's management believes its shares are undervalued.

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.