GAMMA Investing LLC Grows Stock Holdings in Parsons Co. (NYSE:PSN)

GAMMA Investing LLC increased its position in shares of Parsons Co. (NYSE:PSN - Free Report) by 19,411.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 61,460 shares of the company's stock after purchasing an additional 61,145 shares during the quarter. GAMMA Investing LLC owned approximately 0.06% of Parsons worth $3,639,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in 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 increased its holdings in Parsons by 271.6% during the 4th 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. Invesco Ltd. increased its holdings in shares of Parsons by 14.2% in the 4th quarter. Invesco Ltd. now owns 2,056,390 shares of the company's stock worth $189,702,000 after buying an additional 255,810 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Parsons by 2.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,189,811 shares of the company's stock worth $109,762,000 after buying an additional 26,230 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its holdings in shares of Parsons by 5.2% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,069,175 shares of the company's stock worth $98,631,000 after buying an additional 52,522 shares during the last quarter. 98.02% of the stock is currently owned by hedge funds and other institutional investors.

Parsons Stock Performance

NYSE PSN traded down $0.64 during trading hours on Friday, hitting $69.74. 1,093,203 shares of the company's stock traded hands, compared to its average volume of 1,197,645. The business's fifty day moving average price is $65.98 and its two-hundred day moving average price is $73.95. The company has a current ratio of 1.29, a quick ratio of 1.55 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $7.45 billion, a P/E ratio of 91.76, a P/E/G ratio of 0.93 and a beta of 0.53. 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 stock repurchase plan on Monday, March 24th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 3.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PSN shares. TD Cowen lowered shares of Parsons from a "buy" rating to a "hold" rating and set a $105.00 target price on the stock. in a report on Friday, February 21st. Benchmark reaffirmed a "buy" rating and issued a $90.00 target price on shares of Parsons in a research report on Wednesday, February 26th. Bank of America decreased their price target on shares of Parsons from $100.00 to $95.00 and set a "buy" rating for the company in a research note on Tuesday, June 3rd. The Goldman Sachs Group lowered their price target on shares of Parsons from $90.00 to $80.00 and set a "buy" rating for the company in a research report on Wednesday, June 4th. Finally, KeyCorp reduced their price objective on shares of Parsons from $76.00 to $73.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Parsons has an average rating of "Moderate Buy" and an average target price of $86.90.

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.