Dynamic Technology Lab Private Ltd Buys New Position in Parsons Co. (NYSE:PSN)

Dynamic Technology Lab Private Ltd purchased a new position in shares of Parsons Co. (NYSE:PSN) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 12,208 shares of the company’s stock, valued at approximately $1,126,000.

A number of other institutional investors also recently made changes to their positions in the stock. CIBC Private Wealth Group LLC bought a new stake in Parsons during the fourth quarter worth approximately $25,000. ORG Wealth Partners LLC acquired a new position in shares of Parsons during the 4th quarter valued at $26,000. Huntington National Bank increased 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 valued at $27,000 after purchasing an additional 289 shares during the period. GAMMA Investing LLC raised its stake in shares of Parsons by 224.7% in the 4th quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock worth $29,000 after buying an additional 218 shares in the last quarter. Finally, Principal Securities Inc. acquired a new stake in shares of Parsons in the fourth quarter valued at $33,000. 98.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PSN has been the topic of a number of research reports. Jefferies Financial Group dropped their target price on shares of Parsons from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Bank of America dropped their price target on Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a report on Tuesday, April 1st. The Goldman Sachs Group reduced their price objective on Parsons from $109.00 to $98.00 and set a “buy” rating for the company in a research note on Tuesday, February 25th. 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, William Blair upgraded Parsons from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $100.50.

Parsons Price Performance

Shares of PSN stock opened at $58.93 on Friday. Parsons Co. has a 1 year low of $54.56 and a 1 year high of $114.68. 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 firm’s 50 day moving average is $65.52 and its 200-day moving average is $87.89. The firm has a market capitalization of $6.29 billion, a price-to-earnings ratio of 77.54, a PEG ratio of 0.93 and a beta of 0.66.

Parsons announced that its Board of Directors has approved a share repurchase program on Monday, March 24th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the company to repurchase up to 3.9% of its shares through open market purchases. Shares buyback programs are usually an indication 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.