Neo Ivy Capital Management Buys Shares of 13,347 Parsons Co. (NYSE:PSN)

Neo Ivy Capital Management acquired a new position in Parsons Co. (NYSE:PSN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 13,347 shares of the company's stock, valued at approximately $1,231,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Merit Financial Group LLC bought a new stake in Parsons during the 4th quarter worth approximately $566,000. Harel Insurance Investments & Financial Services Ltd. increased its position in Parsons by 51.9% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 8,017 shares of the company's stock worth $740,000 after purchasing an additional 2,739 shares during the last quarter. B.O.S.S. Retirement Advisors LLC bought a new stake in Parsons in the fourth quarter worth $2,320,000. Blue Trust Inc. increased its position in Parsons by 28.7% in the fourth quarter. Blue Trust Inc. now owns 1,340 shares of the company's stock worth $124,000 after purchasing an additional 299 shares during the last quarter. Finally, KBC Group NV increased its position in Parsons by 82.4% in the fourth quarter. KBC Group NV now owns 2,056 shares of the company's stock worth $190,000 after purchasing an additional 929 shares during the last quarter. Hedge funds and other institutional investors own 98.02% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PSN shares. Robert W. Baird cut shares of Parsons from an "outperform" rating to a "neutral" rating and reduced their price target for the stock from $72.00 to $69.00 in a research report on Thursday, May 1st. Baird R W cut shares of Parsons from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 1st. Benchmark restated a "buy" rating and issued a $90.00 price target on shares of Parsons in a research report on Wednesday, February 26th. William Blair upgraded shares of Parsons from a "market perform" rating to an "outperform" rating in a research report on Tuesday, February 18th. Finally, Jefferies Financial Group reaffirmed a "hold" rating and set a $65.00 price objective (down from $75.00) on shares of Parsons in a research note on Monday, May 5th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $90.20.

Parsons Stock Up 0.9%

NYSE:PSN traded up $0.56 during mid-day trading on Thursday, reaching $66.16. The company's stock had a trading volume of 335,502 shares, compared to its average volume of 1,150,444. The firm has a market capitalization of $7.07 billion, a PE ratio of 87.05, 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. The stock has a fifty day moving average of $64.12 and a 200-day moving average of $76.82. Parsons Co. has a 1 year low of $54.56 and a 1 year high of $114.68.

Parsons declared that its board has approved a stock buyback plan on Monday, March 24th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the company to purchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board 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.