Focus Financial Network Inc. Buys Shares of 3,015 Parsons Corporation $PSN

Focus Financial Network Inc. bought a new stake in shares of Parsons Corporation (NYSE:PSN) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,015 shares of the company’s stock, valued at approximately $216,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. First Command Advisory Services Inc. bought a new position in shares of Parsons during the first quarter valued at approximately $385,000. Vanguard Group Inc. increased its stake in shares of Parsons by 8.2% during 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 in the last quarter. New York State Teachers Retirement System increased its stake in shares of Parsons by 1.8% during 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 in the last quarter. Deutsche Bank AG increased its stake in shares of Parsons by 34.7% during 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Parsons by 5.1% during 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 in the last quarter. Institutional investors own 98.02% of the company’s stock.

Analyst Ratings Changes

PSN has been the subject of a number of analyst reports. Robert W. Baird raised their target price on shares of Parsons from $92.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, September 17th. 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 price target for the company. 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. Zacks Research raised shares of Parsons from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 14th. Finally, Raymond James Financial raised shares of Parsons from a “market perform” rating to a “strong-buy” rating and set a $90.00 price target for the company in a research report on Tuesday, July 8th. Two equities research 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 data from MarketBeat, Parsons has a consensus rating of “Moderate Buy” and a consensus target price of $89.50.

Parsons Trading Up 0.7%

Shares of PSN stock opened at $82.03 on Monday. Parsons Corporation has a 12-month low of $54.56 and a 12-month high of $114.68. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.47. The firm’s 50 day moving average is $77.37 and its 200 day moving average is $69.70. The stock has a market capitalization of $8.76 billion, a P/E ratio of 36.62, a P/E/G ratio of 4.32 and a beta of 0.63.

Parsons (NYSE:PSN) last issued its earnings results on Wednesday, August 6th. The company reported $0.78 earnings per share (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 analysts’ expectations of $1.60 billion. During the same quarter last year, the company posted $0.84 earnings per share. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. Research analysts expect 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.