Susquehanna International Group Ltd. Takes Position in Parsons Co. (NYSE:PSN)

Susquehanna International Group Ltd. purchased a new stake in Parsons Co. (NYSE:PSN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 6,530 shares of the company’s stock, valued at approximately $534,000.

Several other hedge funds have also made changes to their positions in PSN. Susquehanna Fundamental Investments LLC boosted its position in shares of Parsons by 2,044.4% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 115,800 shares of the company’s stock worth $9,474,000 after purchasing an additional 110,400 shares during the period. Dark Forest Capital Management LP boosted its position in shares of Parsons by 378.1% during the 2nd quarter. Dark Forest Capital Management LP now owns 13,467 shares of the company’s stock worth $1,102,000 after purchasing an additional 10,650 shares during the period. Earnest Partners LLC boosted its position in shares of Parsons by 2.4% during the 2nd quarter. Earnest Partners LLC now owns 2,168,598 shares of the company’s stock worth $177,413,000 after purchasing an additional 49,891 shares during the period. AQR Capital Management LLC boosted its position in shares of Parsons by 118.3% during the 2nd quarter. AQR Capital Management LLC now owns 59,170 shares of the company’s stock worth $4,841,000 after purchasing an additional 32,064 shares during the period. Finally, Squarepoint Ops LLC purchased a new position in shares of Parsons during the 2nd quarter worth approximately $1,131,000. Hedge funds and other institutional investors own 98.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on PSN shares. Robert W. Baird increased their price objective on shares of Parsons from $89.00 to $103.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Stifel Nicolaus raised their price target on shares of Parsons from $95.00 to $97.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Benchmark raised their price target on shares of Parsons from $68.00 to $101.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. KeyCorp raised their price target on shares of Parsons from $90.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, Truist Financial reissued a “buy” rating and issued a $108.00 price target (up previously from $100.00) on shares of Parsons in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Parsons has a consensus rating of “Buy” and a consensus price target of $94.67.

Parsons Price Performance

Shares of PSN opened at $103.63 on Friday. Parsons Co. has a twelve month low of $53.56 and a twelve month high of $104.33. The firm’s fifty day simple moving average is $92.08 and its 200-day simple moving average is $83.59. The firm has a market capitalization of $15.21 billion, a price-to-earnings ratio of 575.72, a PEG ratio of 2.19 and a beta of 0.80. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.54.

Parsons (NYSE:PSN) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.18. Parsons had a net margin of 0.89% and a return on equity of 12.09%. The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.53 billion. Equities analysts forecast that Parsons Co. will post 2.88 EPS for the current fiscal year.

Parsons 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.