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

Trexquant Investment LP raised its position in Parsons Co. (NYSE:PSN) by 897.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (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 0.13% of Parsons worth $13,116,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC acquired a new position in shares of Parsons in the fourth quarter valued at about $25,000. ORG Wealth Partners LLC bought a new stake in Parsons in the 4th quarter valued at about $26,000. GAMMA Investing LLC grew 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 worth $29,000 after purchasing an additional 218 shares in the last quarter. Principal Securities Inc. acquired a new position in shares of Parsons during the 4th quarter worth approximately $33,000. Finally, Headlands Technologies LLC bought a new position in shares of Parsons during the fourth quarter worth approximately $34,000. Institutional investors own 98.02% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on PSN shares. Raymond James downgraded Parsons from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. KeyCorp reduced their target price on Parsons from $122.00 to $102.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. William Blair raised Parsons from a “market perform” rating to an “outperform” rating in a research note on Tuesday, February 18th. Bank of America reduced their price objective on shares of Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Jefferies Financial Group dropped their target price on shares of Parsons from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $100.50.

Parsons Stock Performance

NYSE PSN opened at $59.52 on Wednesday. The firm’s fifty day moving average price is $67.14 and its two-hundred day moving average price is $88.59. The stock has a market cap of $6.36 billion, a PE ratio of 78.32, a PEG ratio of 0.93 and a beta of 0.78. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.55 and a current ratio of 1.29. Parsons Co. has a fifty-two week low of $54.56 and a fifty-two week high of $114.68.

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

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.