Jacobs Levy Equity Management Inc. Buys Shares of 20,103 Parsons Co. (NYSE:PSN)

Jacobs Levy Equity Management Inc. bought a new stake in Parsons Co. (NYSE:PSN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 20,103 shares of the company's stock, valued at approximately $1,855,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Parsons by 0.9% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 14,207 shares of the company's stock valued at $1,311,000 after purchasing an additional 131 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of Parsons by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 3,287 shares of the company's stock worth $303,000 after acquiring an additional 163 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of Parsons by 0.6% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 32,126 shares of the company's stock worth $2,964,000 after acquiring an additional 191 shares in the last quarter. Xponance Inc. boosted its stake in shares of Parsons by 5.0% during the 4th quarter. Xponance Inc. now owns 5,254 shares of the company's stock worth $485,000 after acquiring an additional 250 shares in the last quarter. Finally, Aptus Capital Advisors LLC boosted its stake in shares of Parsons by 4.9% during the 4th quarter. Aptus Capital Advisors LLC now owns 5,694 shares of the company's stock worth $525,000 after acquiring an additional 264 shares in the last quarter. Hedge funds and other institutional investors own 98.02% of the company's stock.

Parsons Price Performance

Shares of NYSE:PSN opened at $68.31 on Friday. The business has a 50 day moving average price of $62.54 and a 200 day moving average price of $79.44. The company has a quick ratio of 1.55, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. The company has a market cap of $7.30 billion, a price-to-earnings ratio of 89.88, a PEG ratio of 0.93 and a beta of 0.57. Parsons Co. has a twelve month low of $54.56 and a twelve month high of $114.68.

Parsons declared that its board has approved a stock repurchase plan on Monday, March 24th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the company to buy up to 3.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Benchmark reiterated a "buy" rating and set a $90.00 price target on shares of Parsons in a research note on Wednesday, February 26th. The Goldman Sachs Group decreased their price target on Parsons from $109.00 to $98.00 and set a "buy" rating for the company in a research note on Tuesday, February 25th. Baird R W downgraded Parsons from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 1st. Bank of America decreased 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. Finally, Jefferies Financial Group reiterated a "hold" rating and set a $65.00 price target (down previously from $75.00) on shares of Parsons in a research note on Monday, May 5th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $90.20.

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.

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