Sequoia Financial Advisors LLC Has $411,000 Stake in Parsons Corporation $PSN

Sequoia Financial Advisors LLC grew its holdings in shares of Parsons Corporation (NYSE:PSN) by 12.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,731 shares of the company’s stock after acquiring an additional 625 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Parsons were worth $411,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of PSN. Signaturefd LLC grew its holdings in shares of Parsons by 63.1% during the first quarter. Signaturefd LLC now owns 610 shares of the company’s stock worth $36,000 after purchasing an additional 236 shares during the last quarter. Banque Transatlantique SA bought a new stake in shares of Parsons during the first quarter worth about $34,000. NewEdge Advisors LLC grew its holdings in shares of Parsons by 38.0% during the first quarter. NewEdge Advisors LLC now owns 959 shares of the company’s stock worth $57,000 after purchasing an additional 264 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Parsons by 229.5% during the first quarter. GAMMA Investing LLC now owns 1,038 shares of the company’s stock worth $61,000 after purchasing an additional 723 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in shares of Parsons by 433.9% during the first quarter. Jones Financial Companies Lllp now owns 1,260 shares of the company’s stock worth $75,000 after purchasing an additional 1,024 shares during the last quarter. Institutional investors and hedge funds own 98.02% of the company’s stock.

Wall Street Analysts Forecast Growth

PSN has been the topic of several research reports. Raymond James Financial upgraded Parsons from a “market perform” rating to a “strong-buy” rating and set a $90.00 price target on the stock in a report on Tuesday, July 8th. Jefferies Financial Group upped their target price on Parsons from $70.00 to $80.00 and gave the company a “hold” rating in a report on Wednesday, July 2nd. KeyCorp upped their target price on Parsons from $87.00 to $93.00 and gave the company an “overweight” rating in a report on Monday. Robert W. Baird boosted their price target on Parsons from $92.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, September 17th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Parsons in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $91.40.

Parsons Trading Down 0.1%

NYSE PSN opened at $84.87 on Wednesday. The firm has a market capitalization of $9.06 billion, a P/E ratio of 37.89, a PEG ratio of 4.46 and a beta of 0.64. The business has a fifty day simple moving average of $81.20 and a 200 day simple moving average of $73.43. 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.

Parsons (NYSE:PSN) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. Parsons had a return on equity of 12.36% and a net margin of 3.70%.Parsons’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.84 EPS. On average, analysts predict 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.