Parsons Corporation (NYSE:PSN) Position Boosted by IFP Advisors Inc

IFP Advisors Inc grew its holdings in shares of Parsons Corporation (NYSE:PSN) by 207.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,517 shares of the company’s stock after purchasing an additional 1,024 shares during the period. IFP Advisors Inc’s holdings in Parsons were worth $90,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in PSN. CIBC Private Wealth Group LLC acquired a new position in shares of Parsons in the fourth quarter worth about $25,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Parsons in the fourth quarter worth about $25,000. Huntington National Bank boosted its holdings in shares of 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 buying an additional 289 shares during the period. Versant Capital Management Inc acquired a new position in shares of Parsons in the first quarter worth about $27,000. Finally, Quarry LP acquired a new position in shares of Parsons in the fourth quarter worth about $30,000. Institutional investors own 98.02% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Baird R W cut shares of Parsons from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 1st. Robert W. Baird cut shares of Parsons from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $72.00 to $69.00 in a report on Thursday, May 1st. Stifel Nicolaus began coverage on shares of Parsons in a report on Tuesday, June 24th. They set a “buy” rating and a $81.00 price target for the company. Jefferies Financial Group raised their price target on shares of Parsons from $70.00 to $80.00 and gave the stock a “hold” rating in a report on Wednesday, July 2nd. Finally, KeyCorp raised their price target on shares of Parsons from $73.00 to $82.00 and gave the stock an “overweight” rating in a report on Wednesday, July 16th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Parsons has an average rating of “Moderate Buy” and an average target price of $86.20.

Parsons Trading Down 0.5%

Shares of PSN stock opened at $75.14 on Thursday. Parsons Corporation has a 1 year low of $54.56 and a 1 year high of $114.68. The firm’s fifty day simple moving average is $71.18 and its 200 day simple moving average is $69.18. The firm has a market capitalization of $8.03 billion, a P/E ratio of 31.70, a price-to-earnings-growth ratio of 4.64 and a beta of 0.55. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.31.

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.