Wrapmanager Inc. grew its stake in shares of Parsons Co. (NYSE:PSN – Get Rating) by 13.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,919 shares of the company’s stock after purchasing an additional 2,294 shares during the period. Wrapmanager Inc.’s holdings in Parsons were worth $732,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently made changes to their positions in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of Parsons by 2.4% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 17,487 shares of the company’s stock worth $677,000 after acquiring an additional 407 shares in the last quarter. First Bank & Trust grew its position in Parsons by 32.0% in the 1st quarter. First Bank & Trust now owns 3,626 shares of the company’s stock worth $140,000 after purchasing an additional 880 shares in the last quarter. AE Wealth Management LLC grew its position in Parsons by 21.5% in the 1st quarter. AE Wealth Management LLC now owns 7,530 shares of the company’s stock worth $291,000 after purchasing an additional 1,333 shares in the last quarter. Richelieu Gestion PLC bought a new position in shares of Parsons during the 1st quarter valued at approximately $99,000. Finally, Swiss National Bank grew its position in shares of Parsons by 7.3% during the 1st quarter. Swiss National Bank now owns 60,500 shares of the company’s stock valued at $2,341,000 after acquiring an additional 4,100 shares during the period. Institutional investors and hedge funds own 98.44% of the company’s stock.
Parsons Stock Performance
NYSE PSN opened at $42.97 on Wednesday. Parsons Co. has a 1 year low of $29.25 and a 1 year high of $43.84. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.44 and a quick ratio of 1.44. The stock has a market capitalization of $4.45 billion, a PE ratio of 53.71, a P/E/G ratio of 2.17 and a beta of 0.83. The company’s 50 day simple moving average is $40.56 and its two-hundred day simple moving average is $37.91.
Insider Transactions at Parsons
In related news, CFO George L. Ball purchased 70,000 shares of the firm’s stock in a transaction dated Friday, August 5th. The shares were purchased at an average price of $41.50 per share, with a total value of $2,905,000.00. Following the acquisition, the chief financial officer now directly owns 122,857 shares of the company’s stock, valued at $5,098,565.50. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.70% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on the stock. Truist Financial downgraded shares of Parsons from a “buy” rating to a “hold” rating and set a $42.00 target price for the company. in a research report on Friday, April 22nd. TheStreet raised shares of Parsons from a “c+” rating to a “b-” rating in a research report on Tuesday, July 19th. Benchmark increased their target price on shares of Parsons to $46.00 in a research report on Tuesday, August 9th. Raymond James raised their price objective on shares of Parsons from $43.00 to $46.00 and gave the stock an “outperform” rating in a report on Thursday, August 4th. Finally, Morgan Stanley raised their price objective on shares of Parsons from $38.00 to $40.00 and gave the stock an “equal weight” rating in a report on Thursday, August 4th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Parsons has an average rating of “Hold” and a consensus price target of $42.00.
Parsons Corporation provides integrated solutions and services in the defense, intelligence, and critical infrastructure markets in North America, the Middle East, and internationally. It operates through two segments, Federal Solutions and Critical Infrastructure. The company offers cyber security and intelligence services, as well as offensive and defensive cybersecurity platforms, tools, and operations to the U.S.
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