Parsons Corporation $PSN Shares Sold by State of Wyoming

State of Wyoming lessened its position in shares of Parsons Corporation (NYSE:PSN) by 86.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 714 shares of the company’s stock after selling 4,525 shares during the period. State of Wyoming’s holdings in Parsons were worth $42,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AlphaQuest LLC grew its holdings in Parsons by 658.8% during the 1st quarter. AlphaQuest LLC now owns 4,310 shares of the company’s stock worth $255,000 after acquiring an additional 3,742 shares in the last quarter. Channing Capital Management LLC grew its holdings in Parsons by 42.9% during the 1st quarter. Channing Capital Management LLC now owns 1,062,180 shares of the company’s stock worth $62,892,000 after acquiring an additional 319,133 shares in the last quarter. Groupama Asset Managment acquired a new position in Parsons during the 1st quarter worth approximately $136,183,000. Hsbc Holdings PLC acquired a new position in Parsons during the 1st quarter worth approximately $629,000. Finally, Roanoke Asset Management Corp NY grew its holdings in Parsons by 0.5% during the 1st quarter. Roanoke Asset Management Corp NY now owns 38,935 shares of the company’s stock worth $2,305,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 98.02% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PSN shares. 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 report on Tuesday, July 8th. Stifel Nicolaus started coverage on shares of Parsons in a report on Tuesday, June 24th. They issued a “buy” rating and a $81.00 target price for the company. Truist Financial upped their target price on shares of Parsons from $80.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Zacks Research upgraded shares of Parsons from a “strong sell” rating to a “hold” rating in a report on Thursday, August 14th. Finally, The Goldman Sachs Group lowered their target price on shares of Parsons from $90.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, June 4th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Parsons presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.70.

Parsons Stock Up 0.4%

PSN stock opened at $74.76 on Thursday. The company has a fifty day moving average price of $76.85 and a 200 day moving average price of $68.55. Parsons Corporation has a 12 month low of $54.56 and a 12 month high of $114.68. The company has a market cap of $7.98 billion, a price-to-earnings ratio of 33.38, a price-to-earnings-growth ratio of 3.93 and a beta of 0.63. 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 released its quarterly earnings results on Wednesday, August 6th. The company reported $0.78 EPS for the quarter, beating 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 firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the prior year, the firm earned $0.84 EPS. Parsons’s revenue for the quarter was down 5.1% on a year-over-year basis. Sell-side analysts expect 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.