Y Intercept Hong Kong Ltd Boosts Stock Position in Parsons Corporation (NYSE:PSN)

Y Intercept Hong Kong Ltd lifted its position in shares of Parsons Corporation (NYSE:PSN) by 570.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,053 shares of the company’s stock after purchasing an additional 13,658 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Parsons were worth $950,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Parsons by 0.9% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 14,207 shares of the company’s stock worth $1,311,000 after purchasing an additional 131 shares during the period. ProShare Advisors LLC boosted its holdings in shares of Parsons by 7.3% during the fourth quarter. ProShare Advisors LLC now owns 2,185 shares of the company’s stock worth $202,000 after purchasing an additional 149 shares during the period. CWM LLC boosted its holdings in shares of Parsons by 2.1% during the first quarter. CWM LLC now owns 7,810 shares of the company’s stock worth $462,000 after purchasing an additional 163 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in shares of Parsons by 1.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 17,205 shares of the company’s stock worth $1,587,000 after purchasing an additional 194 shares during the period. Finally, New York State Teachers Retirement System boosted its holdings in shares of Parsons by 1.8% during the first quarter. New York State Teachers Retirement System now owns 11,317 shares of the company’s stock worth $670,000 after purchasing an additional 200 shares during the period. 98.02% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PSN shares. Stifel Nicolaus assumed coverage on shares of Parsons in a report on Tuesday, June 24th. They set a “buy” rating and a $81.00 target price for the company. Raymond James Financial raised shares of Parsons from a “market perform” rating to a “strong-buy” rating and set a $90.00 price target for the company in a research note on Tuesday, July 8th. Bank of America decreased their price target on shares of Parsons from $100.00 to $95.00 and set a “buy” rating for the company in a research note on Tuesday, June 3rd. Jefferies Financial Group increased their price target on shares of Parsons from $70.00 to $80.00 and gave the stock a “hold” rating in a research note on Wednesday, July 2nd. Finally, Baird R W downgraded shares of Parsons from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 1st. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $86.20.

Parsons Price Performance

Shares of NYSE PSN opened at $76.06 on Friday. Parsons Corporation has a fifty-two week low of $54.56 and a fifty-two week high of $114.68. The company has a 50 day simple moving average of $70.74 and a two-hundred day simple moving average of $69.52. The company has a market capitalization of $8.13 billion, a price-to-earnings ratio of 32.09, a P/E/G ratio of 4.64 and a beta of 0.55. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.29 and a current ratio of 1.29.

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.