Trexquant Investment LP Has $13.12 Million Holdings in Parsons Co. (NYSE:PSN)

Trexquant Investment LP increased its stake in shares of Parsons Co. (NYSE:PSN - Free Report) by 897.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 142,176 shares of the company's stock after buying an additional 127,926 shares during the quarter. Trexquant Investment LP owned about 0.13% of Parsons worth $13,116,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Cerity Partners LLC purchased a new stake in shares of Parsons during the 3rd quarter valued at approximately $759,000. The Manufacturers Life Insurance Company raised its position in Parsons by 110.4% in the third quarter. The Manufacturers Life Insurance Company now owns 54,933 shares of the company's stock valued at $5,695,000 after purchasing an additional 28,820 shares during the period. FMR LLC lifted its stake in shares of Parsons by 391.4% in the 3rd quarter. FMR LLC now owns 195,850 shares of the company's stock valued at $20,306,000 after purchasing an additional 155,991 shares during the last quarter. MetLife Investment Management LLC grew its holdings in shares of Parsons by 2,846.3% during the 3rd quarter. MetLife Investment Management LLC now owns 24,130 shares of the company's stock worth $2,502,000 after purchasing an additional 23,311 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Parsons by 110.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 254,420 shares of the company's stock worth $26,378,000 after purchasing an additional 133,310 shares during the last quarter. 98.02% of the stock is currently owned by hedge funds and other institutional investors.

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Parsons Trading Down 3.3 %

PSN traded down $2.06 during trading on Thursday, reaching $60.99. The company had a trading volume of 1,797,360 shares, compared to its average volume of 1,043,343. The firm's 50-day simple moving average is $66.02 and its 200 day simple moving average is $88.23. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.55 and a current ratio of 1.29. The company has a market cap of $6.51 billion, a price-to-earnings ratio of 80.25, a PEG ratio of 0.93 and a beta of 0.66. Parsons Co. has a 12-month low of $54.56 and a 12-month high of $114.68.

Parsons announced that its board has initiated a stock repurchase plan on Monday, March 24th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the company to reacquire up to 3.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms have commented on PSN. Bank of America decreased their price target on Parsons from $130.00 to $110.00 and set a "buy" rating on the stock in a research note on Tuesday. Jefferies Financial Group decreased their target price on Parsons from $110.00 to $100.00 and set a "buy" rating on the stock in a research note on Friday, January 24th. Robert W. Baird cut their price target on shares of Parsons from $125.00 to $78.00 and set an "outperform" rating on the stock in a research note on Thursday, February 20th. William Blair raised shares of Parsons from a "market perform" rating to an "outperform" rating in a research note on Tuesday, February 18th. Finally, Benchmark reiterated a "buy" rating and set a $90.00 target price on shares of Parsons in a report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $100.50.

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.