Trexquant Investment LP Acquires 127,926 Shares of Parsons Co. (NYSE:PSN)

Trexquant Investment LP lifted its holdings in shares of Parsons Co. (NYSE:PSN) by 897.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 142,176 shares of the company’s stock after acquiring an additional 127,926 shares during the quarter. Trexquant Investment LP’s holdings in Parsons were worth $13,116,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. CIBC Private Wealth Group LLC bought a new position in Parsons during the 4th quarter worth $25,000. ORG Wealth Partners LLC acquired a new stake in shares of Parsons in the fourth quarter valued at about $26,000. GAMMA Investing LLC raised its position in shares of Parsons by 224.7% during the fourth quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock worth $29,000 after acquiring an additional 218 shares during the last quarter. Principal Securities Inc. acquired a new position in shares of Parsons in the fourth quarter worth approximately $33,000. Finally, Headlands Technologies LLC acquired a new position in shares of Parsons in the fourth quarter worth approximately $34,000. Institutional investors own 98.02% of the company’s stock.

Parsons Stock Performance

Shares of Parsons stock opened at $59.52 on Wednesday. The business has a 50-day simple moving average of $67.14 and a 200 day simple moving average of $88.59. Parsons Co. has a one year low of $54.56 and a one year high of $114.68. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 1.55. The firm has a market capitalization of $6.36 billion, a price-to-earnings ratio of 78.32, a PEG ratio of 0.93 and a beta of 0.78.

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on PSN shares. Robert W. Baird reduced their price objective on shares of Parsons from $125.00 to $78.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. Bank of America cut their price target on shares of Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a research report on Tuesday. TD Cowen lowered Parsons from a “buy” rating to a “hold” rating and set a $105.00 price objective for the company. in a research report on Friday, February 21st. KeyCorp cut their target price on Parsons from $122.00 to $102.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Finally, Benchmark reiterated a “buy” rating and issued a $90.00 target price on shares of Parsons in a report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $100.50.

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.