Parsons Corporation $PSN Shares Purchased by Deutsche Bank AG

Deutsche Bank AG boosted its position in Parsons Corporation (NYSE:PSN) by 34.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 41,869 shares of the company’s stock after purchasing an additional 10,776 shares during the quarter. Deutsche Bank AG’s holdings in Parsons were worth $2,479,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PSN. Freestone Grove Partners LP acquired a new position in Parsons in the 4th quarter valued at $40,318,000. Mackenzie Financial Corp raised its stake in Parsons by 53.8% in the 1st quarter. Mackenzie Financial Corp now owns 1,084,288 shares of the company’s stock valued at $64,201,000 after purchasing an additional 379,254 shares during the last quarter. Vanguard Group Inc. raised its stake in Parsons by 8.2% in the 1st quarter. Vanguard Group Inc. now owns 4,952,299 shares of the company’s stock valued at $293,226,000 after purchasing an additional 376,764 shares during the last quarter. Primecap Management Co. CA acquired a new position in Parsons in the 1st quarter valued at $19,824,000. Finally, Two Sigma Investments LP raised its stake in Parsons by 118.5% in the 4th quarter. Two Sigma Investments LP now owns 443,986 shares of the company’s stock valued at $40,958,000 after purchasing an additional 240,803 shares during the last quarter. 98.02% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on PSN shares. Truist Financial increased their price objective on Parsons from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Robert W. Baird raised Parsons from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $78.00 to $92.00 in a research note on Thursday, August 7th. Baird R W raised Parsons from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. Jefferies Financial Group raised their target price on Parsons from $70.00 to $80.00 and gave the stock a “hold” rating in a research note on Wednesday, July 2nd. Finally, The Goldman Sachs Group cut their target price on Parsons from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, June 4th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Parsons has a consensus rating of “Moderate Buy” and a consensus target price of $88.70.

Parsons Stock Performance

NYSE PSN opened at $78.0210 on Thursday. The stock has a market cap of $8.33 billion, a PE ratio of 34.83, a P/E/G ratio of 4.15 and a beta of 0.58. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.47. Parsons Corporation has a twelve month low of $54.56 and a twelve month high of $114.68. The stock has a fifty day simple moving average of $74.28 and a 200-day simple moving average of $68.04.

Parsons (NYSE:PSN) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.60 billion. Parsons had a return on equity of 12.36% and a net margin of 3.70%.The company’s revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.84 EPS. Equities analysts anticipate that Parsons Corporation will post 3.58 earnings per share for the current year.

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.