Dynamic Technology Lab Private Ltd Invests $1.13 Million in Parsons Co. (NYSE:PSN)

Dynamic Technology Lab Private Ltd purchased a new stake in Parsons Co. (NYSE:PSN - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 12,208 shares of the company's stock, valued at approximately $1,126,000.

Other institutional investors also recently modified their holdings of the company. CIBC Private Wealth Group LLC acquired a new stake in Parsons during the 4th quarter worth about $25,000. ORG Wealth Partners LLC acquired a new position in Parsons in the fourth quarter valued at approximately $26,000. Huntington National Bank grew its position in shares of Parsons by 28,900.0% during the 4th quarter. Huntington National Bank now owns 290 shares of the company's stock worth $27,000 after buying an additional 289 shares during the period. GAMMA Investing LLC lifted 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 period. Finally, Principal Securities Inc. bought a new position in Parsons during the fourth quarter worth $33,000. 98.02% of the stock is owned by institutional investors.

Parsons Stock Performance

PSN traded up $0.11 during trading hours on Friday, hitting $63.38. The stock had a trading volume of 191,418 shares, compared to its average volume of 1,055,566. The stock has a market cap of $6.77 billion, a PE ratio of 83.31, a price-to-earnings-growth ratio of 0.93 and a beta of 0.66. Parsons Co. has a 1 year low of $54.56 and a 1 year high of $114.68. The company has a quick ratio of 1.55, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. The company's fifty day simple moving average is $63.28 and its 200 day simple moving average is $86.35.

Parsons declared that its board has authorized a share repurchase plan on Monday, March 24th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the company to purchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts have weighed in on PSN shares. Jefferies Financial Group decreased their price target on shares of Parsons from $110.00 to $100.00 and set a "buy" rating for the company in a research note on Friday, January 24th. KeyCorp decreased their target price on Parsons from $122.00 to $102.00 and set an "overweight" rating for the company in a research report on Wednesday, January 8th. Robert W. Baird reduced their price objective on Parsons from $125.00 to $78.00 and set an "outperform" rating for the company in a research note on Thursday, February 20th. Benchmark reaffirmed a "buy" rating and set a $90.00 target price on shares of Parsons in a research report on Wednesday, February 26th. Finally, Raymond James downgraded shares of Parsons from an "outperform" rating to a "market perform" rating in a research report on Thursday, January 2nd. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $100.50.

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.