Alpha DNA Investment Management LLC Makes New $427,000 Investment in Parsons Co. (NYSE:PSN)

Alpha DNA Investment Management LLC purchased a new position in Parsons Co. (NYSE:PSN) in the 4th quarter, Holdings Channel reports. The firm purchased 4,626 shares of the company’s stock, valued at approximately $427,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. CIBC Private Wealth Group LLC purchased a new position in Parsons in the 4th quarter worth about $25,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Parsons during the fourth quarter valued at approximately $25,000. ORG Wealth Partners LLC bought a new position in Parsons during the fourth quarter valued at approximately $26,000. Huntington National Bank boosted its holdings in Parsons by 28,900.0% in the fourth quarter. Huntington National Bank now owns 290 shares of the company’s stock worth $27,000 after purchasing an additional 289 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in Parsons by 224.7% in the 4th quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock worth $29,000 after purchasing an additional 218 shares during the period. 98.02% of the stock is owned by institutional investors.

Parsons Price Performance

NYSE PSN opened at $65.03 on Friday. The stock has a market cap of $6.94 billion, a price-to-earnings ratio of 85.57, 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. The company’s 50 day moving average is $61.75 and its two-hundred day moving average is $84.86. The company has a current ratio of 1.29, a quick ratio of 1.55 and a debt-to-equity ratio of 0.31.

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Raymond James cut Parsons from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Jefferies Financial Group dropped their target price on Parsons from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Robert W. Baird reduced their price target on shares of Parsons from $125.00 to $78.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. William Blair upgraded shares of Parsons from a “market perform” rating to an “outperform” rating in a research note on Tuesday, February 18th. Finally, The Goldman Sachs Group cut their target price on shares of Parsons from $109.00 to $98.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.60.

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.