Squarepoint Ops LLC Takes Position in Parsons Co. (NYSE:PSN)

Squarepoint Ops LLC bought a new position in Parsons Co. (NYSE:PSN) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 13,821 shares of the company’s stock, valued at approximately $1,131,000.

Other institutional investors have also recently bought and sold shares of the company. Appian Way Asset Management LP boosted its holdings in Parsons by 649.9% during the second quarter. Appian Way Asset Management LP now owns 394,855 shares of the company’s stock valued at $32,303,000 after purchasing an additional 342,200 shares in the last quarter. Marshall Wace LLP acquired a new stake in Parsons in the 2nd quarter valued at $793,000. Certified Advisory Corp grew its position in Parsons by 6.2% in the second quarter. Certified Advisory Corp now owns 4,743 shares of the company’s stock valued at $388,000 after acquiring an additional 278 shares during the period. 1832 Asset Management L.P. lifted its holdings in shares of Parsons by 6,849.9% during the second quarter. 1832 Asset Management L.P. now owns 40,657 shares of the company’s stock valued at $3,326,000 after acquiring an additional 40,072 shares during the period. Finally, Mount Yale Investment Advisors LLC bought a new position in shares of Parsons during the second quarter valued at $299,000. Institutional investors and hedge funds own 98.02% of the company’s stock.

Analysts Set New Price Targets

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

Parsons Stock Performance

PSN opened at $106.70 on Friday. The firm has a market capitalization of $15.66 billion, a PE ratio of 592.78, a PEG ratio of 2.24 and a beta of 0.80. Parsons Co. has a 52-week low of $54.46 and a 52-week high of $107.00. The business’s 50-day simple moving average is $95.34 and its 200 day simple moving average is $84.60. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.80 and a current ratio of 1.80.

Parsons (NYSE:PSN) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.18. Parsons had a return on equity of 12.09% and a net margin of 0.89%. The firm had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.53 billion. As a group, sell-side analysts expect that Parsons Co. will post 2.88 earnings per share 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.