XTX Topco Ltd Purchases 9,462 Shares of Parsons Co. (NYSE:PSN)

XTX Topco Ltd lifted its position in Parsons Co. (NYSE:PSN - Free Report) by 254.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,177 shares of the company's stock after buying an additional 9,462 shares during the quarter. XTX Topco Ltd's holdings in Parsons were worth $1,216,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. CIBC Private Wealth Group LLC acquired a new position in shares of Parsons during the fourth quarter valued at about $25,000. Aster Capital Management DIFC Ltd acquired a new position in Parsons in the fourth quarter valued at about $25,000. ORG Wealth Partners LLC acquired a new stake in Parsons during the 4th quarter valued at $26,000. Huntington National Bank raised its holdings in shares of Parsons by 28,900.0% in the fourth quarter. Huntington National Bank now owns 290 shares of the company's stock valued at $27,000 after buying an additional 289 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Parsons by 224.7% during the fourth quarter. GAMMA Investing LLC now owns 315 shares of the company's stock valued at $29,000 after purchasing an additional 218 shares during the last quarter. 98.02% of the stock is currently owned by institutional investors.

Parsons Price Performance

Shares of NYSE:PSN traded up $0.50 during midday trading on Friday, hitting $65.03. The stock had a trading volume of 1,255,617 shares, compared to its average volume of 1,073,060. Parsons Co. has a fifty-two week low of $54.56 and a fifty-two week high of $114.68. The company has a market capitalization of $6.94 billion, a P/E ratio of 85.57, a price-to-earnings-growth ratio of 0.93 and a beta of 0.66. 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 50-day moving average price is $61.75 and its 200-day moving average price is $84.86.

Parsons declared that its Board of Directors has approved a stock buyback program on Monday, March 24th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the company to reacquire up to 3.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

PSN has been the topic of several recent research reports. William Blair raised shares of Parsons from a "market perform" rating to an "outperform" rating in a research note on Tuesday, February 18th. Robert W. Baird dropped their target price on shares of Parsons from $125.00 to $78.00 and set an "outperform" rating on the stock in a report on Thursday, February 20th. Bank of America decreased their price objective on Parsons from $130.00 to $110.00 and set a "buy" rating for the company in a report on Tuesday, April 1st. KeyCorp decreased their price objective on Parsons from $76.00 to $73.00 and set an "overweight" rating for the company in a report on Wednesday. Finally, Benchmark reiterated a "buy" rating and issued a $90.00 price target on shares of Parsons in a research note on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $93.60.

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.