Parsons Corporation $PSN Shares Sold by Trexquant Investment LP

Key Points

• Trexquant Investment LP has reduced its holdings in Parsons Corporation by 27.5%, now owning approximately 103,049 shares valued at $6.1 million.
• Major investors such as Vanguard Group Inc. and Mackenzie Financial Corp have increased their investments in Parsons, reflecting strong institutional interest as 98.02% of the stock is held by institutional investors.
• Analysts have updated price targets for Parsons, with ratings ranging from "Hold" to "Strong Buy" and an average target price of $88.70.

Trexquant Investment LP reduced its holdings in Parsons Corporation (NYSE:PSN - Free Report) by 27.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 103,049 shares of the company's stock after selling 39,127 shares during the period. Trexquant Investment LP owned approximately 0.10% of Parsons worth $6,102,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Versant Capital Management Inc acquired a new position in Parsons in the first quarter valued at about $27,000. Quarry LP bought a new stake in Parsons during the 4th quarter worth $30,000. UMB Bank n.a. grew its position in shares of Parsons by 238.7% in the 1st quarter. UMB Bank n.a. now owns 552 shares of the company's stock valued at $33,000 after buying an additional 389 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of Parsons by 1,803.4% during the 1st quarter. Fifth Third Bancorp now owns 552 shares of the company's stock valued at $33,000 after purchasing an additional 523 shares in the last quarter. Finally, Signaturefd LLC boosted its holdings in Parsons by 63.1% in the first quarter. Signaturefd LLC now owns 610 shares of the company's stock worth $36,000 after acquiring an additional 236 shares in the last quarter. 98.02% of the stock is currently owned by institutional investors.

Parsons Stock Up 2.3%

NYSE PSN traded up $1.66 during midday trading on Friday, hitting $75.56. 734,648 shares of the company traded hands, compared to its average volume of 1,367,832. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.61 and a quick ratio of 1.61. The company has a market cap of $8.07 billion, a PE ratio of 33.85, a price-to-earnings-growth ratio of 4.15 and a beta of 0.63. Parsons Corporation has a 52 week low of $54.56 and a 52 week high of $114.68. The company's 50-day simple moving average is $76.64 and its 200-day simple moving average is $68.27.

Parsons (NYSE:PSN - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.74 by $0.04. The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. Parsons had a net margin of 3.70% and a return on equity of 12.36%. Parsons's revenue was down 5.1% on a year-over-year basis. During the same period last year, the firm posted $0.84 EPS. As a group, equities research analysts forecast that Parsons Corporation will post 3.58 earnings per share for the current year.

Analysts Set New Price Targets

PSN has been the subject of a number of research analyst reports. Bank of America decreased their price target on Parsons from $100.00 to $95.00 and set a "buy" rating for the company in a research report on Tuesday, June 3rd. The Goldman Sachs Group reduced their target price on shares of Parsons from $90.00 to $80.00 and set a "buy" rating on the stock in a report on Wednesday, June 4th. Robert W. Baird raised Parsons from a "neutral" rating to an "outperform" rating and upped their price target for the company from $78.00 to $92.00 in a research report on Thursday, August 7th. Truist Financial increased their target price on Parsons from $80.00 to $90.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Finally, Jefferies Financial Group lifted their target price on Parsons from $70.00 to $80.00 and gave the stock a "hold" rating in a report on Wednesday, July 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $88.70.

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.