American Century Companies Inc. Acquires 34,874 Shares of Parsons Co. (NYSE:PSN)

American Century Companies Inc. boosted its position in Parsons Co. (NYSE:PSN - Free Report) by 811.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,172 shares of the company's stock after purchasing an additional 34,874 shares during the quarter. American Century Companies Inc.'s holdings in Parsons were worth $3,614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of PSN. Raymond James Financial Inc. purchased a new stake in shares of Parsons in the fourth quarter worth $63,417,000. State Street Corp increased its stake in Parsons by 60.6% in the 3rd quarter. State Street Corp now owns 1,634,155 shares of the company's stock worth $169,429,000 after acquiring an additional 616,707 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Parsons by 18.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,192,943 shares of the company's stock valued at $123,685,000 after acquiring an additional 183,117 shares in the last quarter. FMR LLC boosted its position in shares of Parsons by 391.4% during the 3rd quarter. FMR LLC now owns 195,850 shares of the company's stock valued at $20,306,000 after acquiring an additional 155,991 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of Parsons by 39.1% during the fourth quarter. Van ECK Associates Corp now owns 502,178 shares of the company's stock worth $46,326,000 after purchasing an additional 141,282 shares in the last quarter. 98.02% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PSN has been the topic of a number of recent analyst reports. William Blair raised shares of Parsons from a "market perform" rating to an "outperform" rating in a research note on Tuesday, February 18th. TD Cowen cut shares of Parsons from a "buy" rating to a "hold" rating and set a $105.00 price objective on the stock. in a research report on Friday, February 21st. Benchmark reiterated a "buy" rating and issued a $90.00 target price on shares of Parsons in a research report on Wednesday, February 26th. KeyCorp reduced their target price on Parsons from $122.00 to $102.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. Finally, Bank of America dropped their price target on Parsons from $130.00 to $110.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $100.50.

Parsons Trading Up 2.2 %

Shares of NYSE PSN traded up $1.36 during midday trading on Friday, reaching $64.63. The company had a trading volume of 1,125,269 shares, compared to its average volume of 1,061,844. The stock has a market cap of $6.90 billion, a PE ratio of 85.04, a price-to-earnings-growth ratio of 0.93 and a beta of 0.66. Parsons Co. has a one year low of $54.56 and a one year high of $114.68. The firm's fifty day moving average price is $63.01 and its 200-day moving average price is $86.09. The company has a quick ratio of 1.55, a current ratio of 1.29 and a debt-to-equity ratio of 0.31.

Parsons announced that its Board of Directors has authorized a stock buyback plan 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 stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

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.