Amundi Raises Holdings in Parsons Corporation $PSN

Amundi grew its position in shares of Parsons Corporation (NYSE:PSN) by 7.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 52,970 shares of the company’s stock after purchasing an additional 3,615 shares during the quarter. Amundi’s holdings in Parsons were worth $3,235,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. First Command Advisory Services Inc. acquired a new stake in Parsons in the first quarter valued at about $385,000. Vanguard Group Inc. lifted its position in Parsons by 8.2% in the first 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 period. New York State Teachers Retirement System lifted its position in Parsons by 1.8% in the first quarter. New York State Teachers Retirement System now owns 11,317 shares of the company’s stock valued at $670,000 after purchasing an additional 200 shares during the period. Deutsche Bank AG lifted its position in Parsons by 34.7% in the first quarter. Deutsche Bank AG now owns 41,869 shares of the company’s stock valued at $2,479,000 after purchasing an additional 10,776 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Parsons by 5.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 446,931 shares of the company’s stock valued at $26,463,000 after purchasing an additional 21,709 shares during the period. Hedge funds and other institutional investors own 98.02% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on PSN. Baird R W upgraded shares of Parsons from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. KeyCorp reiterated an “overweight” rating and set a $84.00 price target (up from $82.00) on shares of Parsons in a research report on Thursday, August 7th. Zacks Research upgraded shares of Parsons from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 14th. Bank of America reduced 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. Finally, Stifel Nicolaus assumed coverage on shares of Parsons in a research report on Tuesday, June 24th. They set a “buy” rating and a $81.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $88.70.

Parsons Trading Up 1.8%

Shares of Parsons stock opened at $76.13 on Friday. 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 Corporation has a 1 year low of $54.56 and a 1 year high of $114.68. The company has a market capitalization of $8.13 billion, a P/E ratio of 33.99, a P/E/G ratio of 3.94 and a beta of 0.63. The business has a 50 day moving average price of $76.88 and a 200 day moving average price of $68.67.

Parsons (NYSE:PSN) last released 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. The firm had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.60 billion. Parsons had a net margin of 3.70% and a return on equity of 12.36%. Parsons’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.84 EPS. Sell-side analysts anticipate that Parsons Corporation will post 3.58 EPS for the current fiscal 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.