Parsons Co. (NYSE:PSN) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank reduced its holdings in shares of Parsons Co. (NYSE:PSN) by 10.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 25,826 shares of the company’s stock after selling 2,901 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Parsons were worth $1,620,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PSN. HMS Capital Management LLC acquired a new position in shares of Parsons during the 3rd quarter worth approximately $310,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Parsons during the 3rd quarter worth about $240,000. Stratos Wealth Partners LTD. raised its position in shares of Parsons by 22.3% in the third quarter. Stratos Wealth Partners LTD. now owns 6,995 shares of the company’s stock valued at $380,000 after buying an additional 1,274 shares during the last quarter. Redwood Investments LLC acquired a new position in Parsons in the 3rd quarter valued at $9,937,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Parsons by 7.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,002 shares of the company’s stock valued at $1,087,000 after purchasing an additional 1,410 shares during the period. Institutional investors and hedge funds own 98.02% of the company’s stock.

Parsons Stock Down 0.5 %

Shares of Parsons stock opened at $78.90 on Thursday. Parsons Co. has a twelve month low of $42.22 and a twelve month high of $85.44. The stock has a market capitalization of $8.35 billion, a price-to-earnings ratio of 55.56, a PEG ratio of 3.52 and a beta of 0.85. The company has a current ratio of 1.51, a quick ratio of 1.52 and a debt-to-equity ratio of 0.31. The business’s 50 day simple moving average is $80.56 and its 200-day simple moving average is $68.85.

Parsons (NYSE:PSN) last announced its quarterly earnings results on Wednesday, February 14th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.13. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.33 billion. Parsons had a net margin of 2.96% and a return on equity of 10.32%. The company’s revenue for the quarter was up 36.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.45 earnings per share. Equities research analysts forecast that Parsons Co. will post 2.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. KeyCorp increased their price objective on shares of Parsons from $89.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Benchmark reaffirmed a “buy” rating and set a $68.00 price target on shares of Parsons in a research note on Thursday, April 4th. The Goldman Sachs Group boosted their price objective on shares of Parsons from $73.00 to $81.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Truist Financial increased their target price on Parsons from $84.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Finally, Robert W. Baird upped their price target on Parsons from $75.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Parsons has an average rating of “Moderate Buy” and an average target price of $79.00.

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.