Vident Advisory LLC Has $6.27 Million Stock Position in Parsons Co. (NYSE:PSN)

Vident Advisory LLC raised its stake in Parsons Co. (NYSE:PSN - Free Report) by 29.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 67,923 shares of the company's stock after acquiring an additional 15,404 shares during the quarter. Vident Advisory LLC owned about 0.06% of Parsons worth $6,266,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. CIBC Private Wealth Group LLC acquired a new position in shares of Parsons in the fourth quarter valued at approximately $25,000. Aster Capital Management DIFC Ltd bought a new stake in Parsons in the 4th quarter valued at $25,000. Huntington National Bank boosted its stake in Parsons by 28,900.0% in the 4th quarter. Huntington National Bank now owns 290 shares of the company's stock valued at $27,000 after purchasing an additional 289 shares during the period. Quarry LP acquired a new position in Parsons in the 4th quarter valued at $30,000. Finally, Principal Securities Inc. bought a new position in Parsons during the 4th quarter worth $33,000. 98.02% of the stock is owned by institutional investors.

Parsons Price Performance

Shares of PSN stock opened at $68.46 on Tuesday. 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 twelve month low of $54.56 and a twelve month high of $114.68. The company has a market cap of $7.32 billion, a P/E ratio of 90.08, a P/E/G ratio of 0.93 and a beta of 0.57. The business has a fifty day simple moving average of $62.99 and a 200 day simple moving average of $78.49.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PSN shares. The Goldman Sachs Group reduced their target price on shares of Parsons from $109.00 to $98.00 and set a "buy" rating for the company in a research report on Tuesday, February 25th. Robert W. Baird cut shares of Parsons from an "outperform" rating to a "neutral" rating and dropped their price objective for the stock from $72.00 to $69.00 in a research note on Thursday, May 1st. 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 research report on Friday, February 21st. Benchmark reaffirmed a "buy" rating and set a $90.00 target price on shares of Parsons in a report on Wednesday, February 26th. Finally, Bank of America cut their price target on Parsons from $130.00 to $110.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average 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.

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