Parsons Co. (NYSE:PSN) Shares Purchased by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. boosted its stake in shares of Parsons Co. (NYSE:PSN - Free Report) by 117.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 79,305 shares of the company's stock after purchasing an additional 42,805 shares during the period. Polar Asset Management Partners Inc. owned approximately 0.07% of Parsons worth $7,316,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. CIBC Private Wealth Group LLC purchased a new position in shares of Parsons in the 4th quarter valued at $25,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Parsons in the 4th quarter valued at $25,000. Huntington National Bank raised its stake in shares of 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 acquiring an additional 289 shares during the period. Quarry LP purchased a new position in shares of Parsons in the 4th quarter valued at $30,000. Finally, Principal Securities Inc. purchased a new position in shares of Parsons in the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 98.02% of the company's stock.

Wall Street Analysts Forecast Growth

PSN has been the topic of a number of research reports. TD Cowen downgraded shares of Parsons from a "buy" rating to a "hold" rating and set a $105.00 target price on the stock. in a research note on Friday, February 21st. Bank of America cut their target price on shares of Parsons from $130.00 to $110.00 and set a "buy" rating on the stock in a research note on Tuesday, April 1st. Truist Financial reissued a "buy" rating and issued a $80.00 target price (up previously from $70.00) on shares of Parsons in a research note on Thursday, May 1st. Benchmark reaffirmed a "buy" rating and set a $90.00 price target on shares of Parsons in a report on Wednesday, February 26th. Finally, KeyCorp lowered their price target on shares of Parsons from $76.00 to $73.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $90.20.

Parsons Stock Down 0.8%

PSN traded down $0.56 during trading hours on Wednesday, reaching $67.71. 280,884 shares of the stock traded hands, compared to its average volume of 1,514,964. The company has a market cap of $7.24 billion, a price-to-earnings ratio of 89.10, a PEG ratio of 0.93 and a beta of 0.57. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 1.55. Parsons Co. has a fifty-two week low of $54.56 and a fifty-two week high of $114.68. The firm's fifty day simple moving average is $63.22 and its two-hundred day simple moving average is $78.42.

Parsons announced that its board has authorized a stock buyback program on Monday, March 24th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 3.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board 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.