GAMMA Investing LLC Has $92,000 Stock Holdings in Parsons Corporation $PSN

GAMMA Investing LLC raised its holdings in shares of Parsons Corporation (NYSE:PSN) by 23.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,277 shares of the company’s stock after purchasing an additional 239 shares during the quarter. GAMMA Investing LLC’s holdings in Parsons were worth $92,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of PSN. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Parsons by 64.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 9,408 shares of the company’s stock worth $868,000 after buying an additional 3,701 shares in the last quarter. Versant Capital Management Inc acquired a new stake in shares of Parsons during the first quarter worth $27,000. Parallel Advisors LLC lifted its holdings in shares of Parsons by 56.6% during the first quarter. Parallel Advisors LLC now owns 1,156 shares of the company’s stock worth $68,000 after buying an additional 418 shares in the last quarter. Merit Financial Group LLC lifted its holdings in shares of Parsons by 37.1% during the first quarter. Merit Financial Group LLC now owns 8,411 shares of the company’s stock worth $498,000 after buying an additional 2,274 shares in the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of Parsons by 238.7% during the first quarter. UMB Bank n.a. now owns 552 shares of the company’s stock worth $33,000 after buying an additional 389 shares in the last quarter. Institutional investors and hedge funds own 98.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Raymond James Financial raised 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. Zacks Research upgraded Parsons from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 14th. Jefferies Financial Group lifted their target price on Parsons from $70.00 to $80.00 and gave the company a “hold” rating in a research report on Wednesday, July 2nd. Baird R W upgraded Parsons from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. Finally, Truist Financial lifted their target price on Parsons from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday. Two research 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 MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $90.80.

Parsons Price Performance

Shares of NYSE:PSN opened at $87.36 on Friday. The company has a quick ratio of 1.61, a current 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’s 50 day moving average is $78.63 and its 200-day moving average is $71.03. The firm has a market capitalization of $9.33 billion, a price-to-earnings ratio of 39.00, a PEG ratio of 4.49 and a beta of 0.64.

Parsons (NYSE:PSN) last issued its 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. Parsons had a return on equity of 12.36% and a net margin of 3.70%.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 prior year, the firm earned $0.84 earnings per share. Parsons’s revenue for the quarter was down 5.1% on a year-over-year basis. Sell-side analysts forecast 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.