Yousif Capital Management LLC Has $829,000 Stake in Parsons Corporation (NYSE:PSN)

Yousif Capital Management LLC reduced its holdings in Parsons Corporation (NYSE:PSN) by 2.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,007 shares of the company’s stock after selling 413 shares during the quarter. Yousif Capital Management LLC’s holdings in Parsons were worth $829,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. UMB Bank n.a. raised its position in Parsons by 238.7% in the 1st quarter. UMB Bank n.a. now owns 552 shares of the company’s stock valued at $33,000 after purchasing an additional 389 shares during the last quarter. Merit Financial Group LLC raised its holdings in shares of Parsons by 37.1% in the first quarter. Merit Financial Group LLC now owns 8,411 shares of the company’s stock valued at $498,000 after buying an additional 2,274 shares during the last quarter. Parallel Advisors LLC lifted its position in Parsons by 56.6% during the 1st quarter. Parallel Advisors LLC now owns 1,156 shares of the company’s stock worth $68,000 after buying an additional 418 shares in the last quarter. GAMMA Investing LLC grew its holdings in Parsons by 19,411.1% during the 1st quarter. GAMMA Investing LLC now owns 61,460 shares of the company’s stock worth $3,639,000 after acquiring an additional 61,145 shares during the last quarter. Finally, Versant Capital Management Inc bought a new stake in Parsons during the 1st quarter worth about $27,000. 98.02% of the stock is currently owned by institutional investors.

Parsons Trading Down 0.2%

PSN opened at $68.03 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $7.27 billion, a price-to-earnings ratio of 28.70, a P/E/G ratio of 3.81 and a beta of 0.53. The company has a 50-day simple moving average of $66.47 and a 200 day simple moving average of $73.34. Parsons Corporation has a twelve month low of $54.56 and a twelve month high of $114.68.

Parsons declared that its board has approved a share repurchase program on Monday, March 24th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the company to buy up to 3.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

PSN has been the subject of a number of recent research reports. Robert W. Baird downgraded Parsons from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $72.00 to $69.00 in a research report on Thursday, May 1st. Benchmark restated a “buy” rating and set a $90.00 price objective on shares of Parsons in a report on Wednesday, February 26th. Baird R W cut shares of Parsons from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 1st. Bank of America dropped their price target on shares of Parsons from $100.00 to $95.00 and set a “buy” rating on the stock in a research report on Tuesday, June 3rd. Finally, KeyCorp decreased their price objective on shares of Parsons from $76.00 to $73.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $86.90.

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.