Sei Investments Co. Purchases 29,025 Shares of Parsons Co. (NYSE:PSN)

Sei Investments Co. raised its position in Parsons Co. (NYSE:PSN) by 12.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 262,285 shares of the company’s stock after purchasing an additional 29,025 shares during the period. Sei Investments Co. owned 0.25% of Parsons worth $24,196,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Fisher Asset Management LLC raised its position in shares of Parsons by 2.1% in the third quarter. Fisher Asset Management LLC now owns 4,364 shares of the company’s stock worth $452,000 after buying an additional 90 shares in the last quarter. CIBC Asset Management Inc increased its stake in Parsons by 5.2% in 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 during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of Parsons by 0.6% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 32,126 shares of the company’s stock valued at $2,964,000 after acquiring an additional 191 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Parsons by 224.7% during the 4th quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock valued at $29,000 after acquiring an additional 218 shares during the last quarter. Finally, Xponance Inc. grew its holdings in shares of Parsons by 5.0% during the fourth quarter. Xponance Inc. now owns 5,254 shares of the company’s stock worth $485,000 after purchasing an additional 250 shares in the last quarter. 98.02% of the stock is currently owned by hedge funds and other institutional investors.

Parsons Trading Down 0.6 %

NYSE PSN opened at $61.17 on Thursday. The stock has a 50-day moving average of $70.00 and a 200-day moving average of $89.66. The company has a current ratio of 1.29, a quick ratio of 1.55 and a debt-to-equity ratio of 0.31. Parsons Co. has a 1-year low of $54.56 and a 1-year high of $114.68. The firm has a market cap of $6.53 billion, a PE ratio of 80.49, a price-to-earnings-growth ratio of 0.93 and a beta of 0.78.

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. William Blair raised shares of Parsons from a “market perform” rating to an “outperform” rating in a research note on Tuesday, February 18th. Raymond James downgraded shares of Parsons from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. TD Cowen lowered shares of 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. The Goldman Sachs Group lowered their price target on Parsons from $109.00 to $98.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Finally, Robert W. Baird cut their price objective on Parsons from $125.00 to $78.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $99.44.

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.