Squarepoint Ops LLC Grows Position in Parsons Co. (NYSE:PSN)

Squarepoint Ops LLC boosted its stake in shares of Parsons Co. (NYSE:PSN - Free Report) by 186.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 188,095 shares of the company's stock after buying an additional 122,379 shares during the quarter. Squarepoint Ops LLC owned approximately 0.18% of Parsons worth $17,352,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PSN. Merit Financial Group LLC bought a new stake in Parsons during the 4th quarter valued at about $566,000. Diversify Wealth Management LLC bought a new stake in Parsons during the 4th quarter valued at about $376,000. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in Parsons by 51.9% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 8,017 shares of the company's stock valued at $740,000 after buying an additional 2,739 shares in the last quarter. B.O.S.S. Retirement Advisors LLC bought a new stake in Parsons during the 4th quarter valued at about $2,320,000. Finally, Blue Trust Inc. lifted its holdings in Parsons by 28.7% during the 4th quarter. Blue Trust Inc. now owns 1,340 shares of the company's stock valued at $124,000 after buying an additional 299 shares in the last quarter. Institutional investors own 98.02% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on PSN. Benchmark reissued a "buy" rating and set a $90.00 target price on shares of Parsons in a research report on Wednesday, February 26th. Jefferies Financial Group reissued a "hold" rating and set a $65.00 target price (down previously from $75.00) on shares of Parsons in a research report on Monday, May 5th. TD Cowen downgraded shares of Parsons from a "buy" rating to a "hold" rating and set a $105.00 target price on the stock. in a research report on Friday, February 21st. The Goldman Sachs Group cut their target price on shares of Parsons from $109.00 to $98.00 and set a "buy" rating on the stock in a research report on Tuesday, February 25th. Finally, Robert W. Baird downgraded shares of Parsons from an "outperform" rating to a "neutral" rating and cut their target price for the company from $72.00 to $69.00 in a research report on Thursday, May 1st. 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 presently has an average rating of "Moderate Buy" and a consensus target price of $90.20.

Parsons Stock Up 2.1%

Shares of Parsons stock traded up $1.37 on Tuesday, reaching $67.54. The stock had a trading volume of 211,455 shares, compared to its average volume of 1,500,608. The company has a 50 day moving average price of $63.81 and a 200 day moving average price of $76.96. The company has a quick ratio of 1.55, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. Parsons Co. has a 1 year low of $54.56 and a 1 year high of $114.68. The stock has a market capitalization of $7.22 billion, a P/E ratio of 88.87, a P/E/G ratio of 0.93 and a beta of 0.57.

Parsons announced that its board has authorized a stock repurchase program on Monday, March 24th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 3.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management 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.