Swiss National Bank Sells 1,400 Shares of Parsons Corporation $PSN

Swiss National Bank trimmed its stake in shares of Parsons Corporation (NYSE:PSN) by 1.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 92,600 shares of the company’s stock after selling 1,400 shares during the period. Swiss National Bank owned approximately 0.09% of Parsons worth $5,483,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in PSN. Quarry LP purchased a new stake in Parsons during the fourth quarter valued at approximately $30,000. Versant Capital Management Inc purchased a new stake in Parsons during the first quarter valued at approximately $27,000. UMB Bank n.a. increased its holdings in Parsons by 238.7% during the first quarter. UMB Bank n.a. now owns 552 shares of the company’s stock valued at $33,000 after buying an additional 389 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of Parsons by 1,803.4% in the first quarter. Fifth Third Bancorp now owns 552 shares of the company’s stock worth $33,000 after purchasing an additional 523 shares during the period. Finally, Signaturefd LLC boosted its position in shares of Parsons by 63.1% in the first quarter. Signaturefd LLC now owns 610 shares of the company’s stock worth $36,000 after purchasing an additional 236 shares during the period. 98.02% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on PSN shares. Bank of America dropped their price target on shares of Parsons from $100.00 to $95.00 and set a “buy” rating for the company in a research report on Tuesday, June 3rd. Raymond James Financial upgraded shares of Parsons from a “market perform” rating to a “strong-buy” rating and set a $90.00 target price for the company in a research report on Tuesday, July 8th. Baird R W upgraded shares of Parsons from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. Stifel Nicolaus started coverage on shares of Parsons in a research report on Tuesday, June 24th. They set a “buy” rating and a $81.00 target price for the company. Finally, Truist Financial upped their target price on shares of Parsons from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Parsons currently has an average rating of “Buy” and an average target price of $88.70.

Parsons Stock Performance

Shares of Parsons stock opened at $79.50 on Tuesday. The firm’s fifty day simple moving average is $73.93 and its 200-day simple moving average is $67.89. The stock has a market capitalization of $8.49 billion, a price-to-earnings ratio of 35.49, a PEG ratio of 4.19 and a beta of 0.58. Parsons Corporation has a 12 month low of $54.56 and a 12 month high of $114.68. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.61 and a quick ratio of 1.61.

Parsons (NYSE:PSN) last issued its earnings results on Wednesday, August 6th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.74 by $0.04. Parsons had a net margin of 3.70% and a return on equity of 12.36%. The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same period in the previous year, the firm earned $0.84 EPS. The business’s revenue was down 5.1% on a year-over-year basis. As a group, equities analysts forecast that Parsons Corporation will post 3.58 earnings per share for the current year.

About Parsons

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.