Sei Investments Co. Grows Position in Parsons Co. (NYSE:PSN)

Sei Investments Co. raised its holdings in Parsons Co. (NYSE:PSN - Free Report) by 12.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 262,285 shares of the company's stock after purchasing an additional 29,025 shares during the quarter. Sei Investments Co. owned 0.25% of Parsons worth $24,196,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. ORG Wealth Partners LLC purchased a new position in shares of Parsons in the 4th quarter valued at about $26,000. GAMMA Investing LLC grew its position in Parsons by 224.7% during the fourth quarter. GAMMA Investing LLC now owns 315 shares of the company's stock worth $29,000 after buying an additional 218 shares during the period. True Wealth Design LLC purchased a new position in Parsons in the third quarter valued at about $30,000. Principal Securities Inc. acquired a new stake in shares of Parsons during the 4th quarter valued at approximately $33,000. Finally, R Squared Ltd purchased a new stake in shares of Parsons during the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 98.02% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on PSN shares. William Blair raised Parsons from a "market perform" rating to an "outperform" rating in a research note on Tuesday, February 18th. KeyCorp dropped their price target on Parsons from $122.00 to $102.00 and set an "overweight" rating for the company in a research report on Wednesday, January 8th. Jefferies Financial Group decreased their price objective on shares of Parsons from $110.00 to $100.00 and set a "buy" rating on the stock in a research report on Friday, January 24th. The Goldman Sachs Group lowered their price objective on shares of Parsons from $109.00 to $98.00 and set a "buy" rating on the stock in a research note on Tuesday, February 25th. Finally, Robert W. Baird cut their target price on shares of Parsons from $125.00 to $78.00 and set an "outperform" rating for the company in a research report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $99.44.

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Parsons Trading Down 1.9 %

Shares of NYSE PSN traded down $1.18 during midday trading on Friday, reaching $59.37. 599,098 shares of the stock were exchanged, compared to its average volume of 1,031,276. The company has a current ratio of 1.29, a quick ratio of 1.55 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $6.34 billion, a P/E ratio of 78.12, a P/E/G ratio of 0.93 and a beta of 0.78. The stock has a 50 day moving average price of $68.59 and a 200-day moving average price of $89.12. Parsons Co. has a 52-week low of $54.56 and a 52-week high of $114.68.

Parsons announced that its board has initiated a stock repurchase program on Monday, March 24th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the company to buy up to 3.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

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.