Aubrey Capital Management Ltd Purchases Shares of 5,690 Parsons Co. (NYSE:PSN)

Aubrey Capital Management Ltd bought a new position in shares of Parsons Co. (NYSE:PSN - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 5,690 shares of the company's stock, valued at approximately $338,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. CIBC Private Wealth Group LLC bought a new stake in Parsons in the fourth quarter valued at about $25,000. Aster Capital Management DIFC Ltd bought a new stake in Parsons in the fourth quarter valued at about $25,000. Huntington National Bank increased its holdings in Parsons by 28,900.0% in the fourth quarter. Huntington National Bank now owns 290 shares of the company's stock valued at $27,000 after purchasing an additional 289 shares during the last quarter. Versant Capital Management Inc bought a new stake in Parsons in the first quarter valued at about $27,000. Finally, Quarry LP bought a new stake in Parsons in the fourth quarter valued at about $30,000. Institutional investors own 98.02% of the company's stock.

Parsons Stock Down 0.8%

Shares of NYSE:PSN traded down $0.59 during mid-day trading on Monday, reaching $69.15. 1,563,235 shares of the stock were exchanged, compared to its average volume of 1,199,107. 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 $7.39 billion, a P/E ratio of 90.99, a P/E/G ratio of 0.93 and a beta of 0.53. Parsons Co. has a one year low of $54.56 and a one year high of $114.68. The stock's 50 day simple moving average is $66.18 and its 200-day simple moving average is $73.61.

Parsons declared that its board has initiated a share 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 stock through open market purchases. Stock buyback programs are typically an indication that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PSN. TD Cowen downgraded 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. KeyCorp lowered their price target on Parsons from $76.00 to $73.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. The Goldman Sachs Group lowered their price target on Parsons from $90.00 to $80.00 and set a "buy" rating for the company in a report on Wednesday, June 4th. Benchmark restated a "buy" rating and issued a $90.00 price target on shares of Parsons in a report on Wednesday, February 26th. Finally, William Blair upgraded Parsons from a "market perform" rating to an "outperform" rating in a report on Tuesday, February 18th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $86.90.

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.