Parsons Co. (NYSE:PSN) Shares Acquired by Certified Advisory Corp

Certified Advisory Corp grew its holdings in Parsons Co. (NYSE:PSN) by 21.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 5,743 shares of the company’s stock after purchasing an additional 1,000 shares during the quarter. Certified Advisory Corp’s holdings in Parsons were worth $595,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Advisors Asset Management Inc. grew its stake in shares of Parsons by 21.9% in the third quarter. Advisors Asset Management Inc. now owns 25,147 shares of the company’s stock worth $2,607,000 after acquiring an additional 4,523 shares in the last quarter. Caprock Group LLC purchased a new position in Parsons in the third quarter valued at $221,000. Quest Partners LLC acquired a new position in Parsons during the 3rd quarter worth $432,000. Thrivent Financial for Lutherans purchased a new stake in Parsons during the 3rd quarter worth about $1,138,000. Finally, Mutual of America Capital Management LLC acquired a new stake in Parsons in the 3rd quarter valued at about $2,618,000. Institutional investors and hedge funds own 98.02% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Robert W. Baird upped their target price on shares of Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Truist Financial reduced their price objective on shares of Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a report on Friday. Raymond James downgraded shares of Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 target price for the company. in a research note on Wednesday, October 23rd. Benchmark raised their price target on Parsons from $68.00 to $101.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, KeyCorp upped their price objective on Parsons from $116.00 to $122.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $105.13.

Parsons Trading Down 0.3 %

PSN opened at $99.05 on Friday. The business’s 50 day moving average is $104.86 and its two-hundred day moving average is $90.77. The firm has a market cap of $10.52 billion, a price-to-earnings ratio of 150.08, a price-to-earnings-growth ratio of 1.77 and a beta of 0.80. Parsons Co. has a 52 week low of $61.10 and a 52 week high of $114.68. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.47.

Parsons (NYSE:PSN) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.07. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Parsons had a net margin of 1.21% and a return on equity of 12.74%. On average, research analysts predict that Parsons Co. will post 3.02 EPS for the current year.

Parsons Company 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.