Aigen Investment Management LP Makes New Investment in Parsons Co. (NYSE:PSN)

Aigen Investment Management LP bought a new stake in shares of Parsons Co. (NYSE:PSN - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 9,681 shares of the company's stock, valued at approximately $1,004,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Wedge Capital Management L L P NC bought a new position in shares of Parsons in the third quarter worth $62,514,000. Allspring Global Investments Holdings LLC grew its position in Parsons by 61.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,123,366 shares of the company's stock worth $116,471,000 after acquiring an additional 428,662 shares in the last quarter. Vanguard Group Inc. grew its position in Parsons by 10.2% in the first quarter. Vanguard Group Inc. now owns 4,544,866 shares of the company's stock worth $376,997,000 after acquiring an additional 421,085 shares in the last quarter. Driehaus Capital Management LLC purchased a new position in Parsons in the second quarter worth $29,302,000. Finally, Appian Way Asset Management LP grew its position in Parsons by 649.9% in the second quarter. Appian Way Asset Management LP now owns 394,855 shares of the company's stock worth $32,303,000 after acquiring an additional 342,200 shares in the last quarter. Institutional investors own 98.02% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on PSN. Robert W. Baird upped their target price on shares of Parsons from $103.00 to $125.00 and gave the stock an "outperform" rating in a research report on Thursday, October 31st. Benchmark upped their target price on shares of Parsons from $68.00 to $101.00 and gave the stock a "buy" rating in a research report on Thursday, August 1st. Raymond James lowered shares of Parsons from a "strong-buy" rating to an "outperform" rating and set a $115.00 target price for the company. in a research report on Wednesday, October 23rd. KeyCorp upped their target price on shares of Parsons from $116.00 to $122.00 and gave the stock an "overweight" rating in a research report on Thursday, October 31st. Finally, Truist Financial restated a "buy" rating and set a $108.00 price target (up from $100.00) on shares of Parsons in a research report on Thursday, August 1st. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Parsons has an average rating of "Moderate Buy" and a consensus price target of $102.11.

Parsons Trading Down 0.8 %

Shares of Parsons stock traded down $0.95 during trading on Wednesday, reaching $112.01. 409,688 shares of the stock were exchanged, compared to its average volume of 885,695. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.47. The stock's fifty day moving average is $104.20 and its 200 day moving average is $89.78. The firm has a market cap of $11.89 billion, a price-to-earnings ratio of 171.96, a price-to-earnings-growth ratio of 2.02 and a beta of 0.80. Parsons Co. has a 1 year low of $61.10 and a 1 year high of $114.68.

Parsons (NYSE:PSN - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.73 by $0.07. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.63 billion. Parsons had a net margin of 1.21% and a return on equity of 12.74%. As a group, equities research analysts expect that Parsons Co. will post 3.02 earnings per share for the current fiscal year.

About Parsons

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.