58,556 Shares in Parsons Co. (NYSE:PSN) Purchased by Paradoxiom Capital L.P.

Paradoxiom Capital L.P. bought a new position in shares of Parsons Co. (NYSE:PSN - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 58,556 shares of the company's stock, valued at approximately $5,402,000. Parsons makes up approximately 2.2% of Paradoxiom Capital L.P.'s portfolio, making the stock its 25th largest position. Paradoxiom Capital L.P. owned about 0.06% of Parsons as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Norden Group LLC bought a new position in Parsons in the fourth quarter valued at approximately $499,000. Wolverine Asset Management LLC bought a new position in shares of Parsons during the 4th quarter worth approximately $577,000. Truist Financial Corp boosted its stake in shares of Parsons by 12.5% during the 4th quarter. Truist Financial Corp now owns 45,253 shares of the company's stock worth $4,175,000 after acquiring an additional 5,032 shares during the period. Bank Julius Baer & Co. Ltd Zurich grew its position in shares of Parsons by 15.4% in 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 during the last quarter. Finally, Ieq Capital LLC boosted its stake in Parsons by 676.6% in the 4th quarter. Ieq Capital LLC now owns 19,019 shares of the company's stock valued at $1,755,000 after purchasing an additional 16,570 shares during the period. 98.02% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on PSN shares. Truist Financial reiterated a "buy" rating and set a $80.00 target price (up from $70.00) on shares of Parsons in a research report on Thursday, May 1st. Bank of America dropped their price objective on Parsons from $130.00 to $110.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. The Goldman Sachs Group dropped their price objective on Parsons from $109.00 to $98.00 and set a "buy" rating for the company in a research report on Tuesday, February 25th. KeyCorp dropped their target price on Parsons from $76.00 to $73.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Finally, TD Cowen downgraded Parsons from a "buy" rating to a "hold" rating and set a $105.00 target price for the company. in a research report on Friday, February 21st. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Parsons currently has a consensus rating of "Moderate Buy" and an average price target of $90.20.

Parsons Stock Performance

Parsons stock traded down $0.26 during mid-day trading on Monday, reaching $68.75. The company's stock had a trading volume of 345,833 shares, compared to its average volume of 1,527,218. Parsons Co. has a 12-month low of $54.56 and a 12-month high of $114.68. The company has a market capitalization of $7.35 billion, a P/E ratio of 90.46, a PEG 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. The firm's fifty day moving average price is $62.77 and its two-hundred day moving average price is $78.77.

Parsons announced that its Board of Directors has initiated a share 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 a sign that the company's board believes its stock is 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.