Squarepoint Ops LLC Has $17.35 Million Stock Position in Parsons Co. (NYSE:PSN)

Squarepoint Ops LLC raised its position in Parsons Co. (NYSE:PSN - Free Report) by 186.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 188,095 shares of the company's stock after acquiring an additional 122,379 shares during the period. Squarepoint Ops LLC owned about 0.18% of Parsons worth $17,352,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Two Sigma Advisers LP raised its holdings in shares of Parsons by 14.0% in the 4th quarter. Two Sigma Advisers LP now owns 178,500 shares of the company's stock worth $16,467,000 after buying an additional 21,855 shares in the last quarter. Two Sigma Investments LP raised its holdings in shares of Parsons by 118.5% in the 4th quarter. Two Sigma Investments LP now owns 443,986 shares of the company's stock worth $40,958,000 after buying an additional 240,803 shares in the last quarter. Tidal Investments LLC raised its holdings in shares of Parsons by 15.9% in the 4th quarter. Tidal Investments LLC now owns 8,364 shares of the company's stock worth $772,000 after buying an additional 1,150 shares in the last quarter. Teza Capital Management LLC raised its holdings in shares of Parsons by 127.1% in the 4th quarter. Teza Capital Management LLC now owns 16,877 shares of the company's stock worth $1,557,000 after buying an additional 9,444 shares in the last quarter. Finally, State of Wyoming raised its holdings in shares of Parsons by 398.0% in the 4th quarter. State of Wyoming now owns 5,239 shares of the company's stock worth $483,000 after buying an additional 4,187 shares in the last quarter. Institutional investors and hedge funds own 98.02% of the company's stock.

Parsons Trading Down 2.5%

PSN traded down $1.67 during mid-day trading on Friday, reaching $66.24. The stock had a trading volume of 1,343,445 shares, compared to its average volume of 1,150,301. The stock has a market capitalization of $7.08 billion, a P/E ratio of 87.16, a P/E/G ratio of 0.93 and a beta of 0.57. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.55 and a current ratio of 1.29. The firm's fifty day simple moving average is $63.70 and its two-hundred day simple moving average is $77.75. Parsons Co. has a 52 week low of $54.56 and a 52 week high of $114.68.

Parsons declared that its board has initiated a stock buyback program on Monday, March 24th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PSN. Jefferies Financial Group reissued a "hold" rating and issued a $65.00 target price (down from $75.00) on shares of Parsons in a report on Monday, May 5th. Baird R W cut Parsons from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 1st. KeyCorp dropped 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. Robert W. Baird cut Parsons from an "outperform" rating to a "neutral" rating and dropped their price target for the company from $72.00 to $69.00 in a report on Thursday, May 1st. Finally, TD Cowen cut Parsons from a "buy" rating to a "hold" rating and set a $105.00 price target for the company. in a report on Friday, February 21st. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $90.20.

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.