Teza Capital Management LLC Purchases 9,444 Shares of Parsons Co. (NYSE:PSN)

Teza Capital Management LLC grew its position in shares of Parsons Co. (NYSE:PSN - Free Report) by 127.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,877 shares of the company's stock after buying an additional 9,444 shares during the period. Teza Capital Management LLC's holdings in Parsons were worth $1,557,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Norden Group LLC purchased a new position in shares of Parsons in the fourth quarter worth about $499,000. Wolverine Asset Management LLC purchased a new position in shares of Parsons during the fourth quarter worth about $577,000. Truist Financial Corp increased its holdings in shares of Parsons by 12.5% in the 4th quarter. Truist Financial Corp now owns 45,253 shares of the company's stock worth $4,175,000 after buying an additional 5,032 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its position in Parsons by 15.4% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 86,149 shares of the company's stock valued at $8,052,000 after purchasing an additional 11,520 shares in the last quarter. Finally, Ieq Capital LLC lifted its position in Parsons by 676.6% in the 4th quarter. Ieq Capital LLC now owns 19,019 shares of the company's stock worth $1,755,000 after buying an additional 16,570 shares during the last quarter. Hedge funds and other institutional investors own 98.02% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PSN shares. Jefferies Financial Group restated a "hold" rating and set a $65.00 price target (down previously from $75.00) on shares of Parsons in a report on Monday, May 5th. TD Cowen lowered Parsons from a "buy" rating to a "hold" rating and set a $105.00 price target for the company. in a research note on Friday, February 21st. Baird R W downgraded shares of Parsons from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 1st. Truist Financial reaffirmed a "buy" rating and set a $80.00 price objective (up previously from $70.00) on shares of Parsons in a research report on Thursday, May 1st. Finally, William Blair raised Parsons from a "market perform" rating to an "outperform" rating in a report on Tuesday, February 18th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Parsons presently has an average rating of "Moderate Buy" and a consensus target price of $90.20.

Parsons Stock Performance

Shares of PSN stock traded up $0.84 during trading hours on Thursday, reaching $68.06. The company had a trading volume of 902,240 shares, compared to its average volume of 1,145,373. The business has a fifty day moving average price of $63.40 and a 200-day moving average price of $78.34. The firm has a market cap of $7.27 billion, a PE ratio of 89.56, a price-to-earnings-growth 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. Parsons Co. has a one year low of $54.56 and a one year high of $114.68.

Parsons declared that its Board of Directors has authorized a stock buyback program on Monday, March 24th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 3.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's leadership 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.