7,322 Shares in Parsons Co. (NYSE:PSN) Acquired by Cerity Partners LLC

Cerity Partners LLC purchased a new stake in shares of Parsons Co. (NYSE:PSN) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 7,322 shares of the company’s stock, valued at approximately $759,000.

Several other institutional investors also recently bought and sold shares of PSN. CIBC Asset Management Inc grew its stake in shares of Parsons by 3.2% in the third quarter. CIBC Asset Management Inc now owns 3,124 shares of the company’s stock valued at $324,000 after buying an additional 96 shares in the last quarter. Chartwell Investment Partners LLC raised its stake in shares of Parsons by 0.8% during the third quarter. Chartwell Investment Partners LLC now owns 14,536 shares of the company’s stock valued at $1,507,000 after purchasing an additional 117 shares during the period. AE Wealth Management LLC lifted its position in shares of Parsons by 2.7% during the second quarter. AE Wealth Management LLC now owns 5,763 shares of the company’s stock worth $471,000 after purchasing an additional 150 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Parsons by 23.6% in the second quarter. Blue Trust Inc. now owns 1,041 shares of the company’s stock valued at $86,000 after purchasing an additional 199 shares during the period. Finally, Assetmark Inc. grew its holdings in Parsons by 10.7% during the 3rd quarter. Assetmark Inc. now owns 2,750 shares of the company’s stock valued at $285,000 after purchasing an additional 265 shares in the last quarter. 98.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Robert W. Baird raised their target price on Parsons from $103.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Raymond James lowered Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 target price for the company. in a research report on Wednesday, October 23rd. Truist Financial reduced their price target on shares of Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Finally, KeyCorp upped their target price on Parsons from $116.00 to $122.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.13.

Parsons Price Performance

NYSE PSN opened at $98.88 on Friday. The company’s 50 day simple moving average is $104.21 and its 200 day simple moving average is $91.98. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.55 and a quick ratio of 1.55. The firm has a market capitalization of $10.50 billion, a PE ratio of 149.82, a P/E/G ratio of 1.69 and a beta of 0.74. Parsons Co. has a 12 month low of $61.10 and a 12 month high of $114.68.

Parsons (NYSE:PSN) last released its earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.07. Parsons had a return on equity of 12.74% and a net margin of 1.21%. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.63 billion. As a group, equities research analysts forecast that Parsons Co. will post 3.02 EPS for the current fiscal year.

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.