Wrapmanager Inc. Sells 156 Shares of Parsons Co. (NYSE:PSN)

Wrapmanager Inc. decreased its holdings in Parsons Co. (NYSE:PSN) by 2.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,584 shares of the company’s stock after selling 156 shares during the period. Wrapmanager Inc.’s holdings in Parsons were worth $413,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PSN. Private Advisor Group LLC raised its stake in Parsons by 3.7% in the 4th quarter. Private Advisor Group LLC now owns 4,857 shares of the company’s stock valued at $305,000 after acquiring an additional 174 shares during the period. Arizona State Retirement System lifted its stake in shares of Parsons by 1.5% during the 3rd quarter. Arizona State Retirement System now owns 11,942 shares of the company’s stock worth $649,000 after buying an additional 178 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of Parsons by 1.6% during the 4th quarter. Jennison Associates LLC now owns 15,151 shares of the company’s stock worth $950,000 after buying an additional 239 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in Parsons by 7.4% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 4,733 shares of the company’s stock valued at $297,000 after buying an additional 327 shares during the last quarter. Finally, Amalgamated Bank raised its holdings in Parsons by 7.0% in the 3rd quarter. Amalgamated Bank now owns 5,060 shares of the company’s stock valued at $275,000 after acquiring an additional 331 shares during the period. 98.02% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on PSN shares. KeyCorp upped their target price on Parsons from $89.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Benchmark reaffirmed a “buy” rating and set a $68.00 price target on shares of Parsons in a research report on Thursday, April 4th. The Goldman Sachs Group boosted their price objective on shares of Parsons from $73.00 to $81.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Truist Financial raised their target price on shares of Parsons from $84.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. Finally, TD Cowen raised Parsons from a “hold” rating to a “buy” rating and increased their price target for the stock from $77.00 to $90.00 in a research report on Friday, May 3rd. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Parsons presently has an average rating of “Buy” and an average price target of $83.10.

Parsons Price Performance

Shares of PSN stock traded down $0.57 during trading hours on Thursday, reaching $77.03. The company’s stock had a trading volume of 880,420 shares, compared to its average volume of 884,727. Parsons Co. has a fifty-two week low of $42.79 and a fifty-two week high of $85.44. The firm’s 50 day simple moving average is $80.69 and its 200-day simple moving average is $70.37. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $8.15 billion, a price-to-earnings ratio of 427.92, a PEG ratio of 2.92 and a beta of 0.86.

Parsons (NYSE:PSN) last released its quarterly earnings data on Wednesday, February 14th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.13. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.33 billion. Parsons had a return on equity of 11.27% and a net margin of 0.49%. Parsons’s revenue was up 36.4% compared to the same quarter last year. During the same period last year, the firm posted $0.45 earnings per share. Sell-side analysts forecast that Parsons Co. will post 2.57 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.