Quantbot Technologies LP Purchases 4,792 Shares of Parsons Co. (NYSE:PSN)

Quantbot Technologies LP raised its position in Parsons Co. (NYSE:PSN) by 17.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 32,302 shares of the company’s stock after buying an additional 4,792 shares during the period. Quantbot Technologies LP’s holdings in Parsons were worth $3,349,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of PSN. Wedge Capital Management L L P NC purchased a new stake in shares of Parsons during the third quarter valued at approximately $62,514,000. Allspring Global Investments Holdings LLC increased its position in shares of Parsons by 61.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,123,366 shares of the company’s stock valued at $116,471,000 after purchasing an additional 428,662 shares during the last quarter. Driehaus Capital Management LLC bought a new stake in shares of Parsons during the 2nd quarter worth $29,302,000. Appian Way Asset Management LP boosted its holdings in shares of Parsons by 649.9% in the 2nd quarter. Appian Way Asset Management LP now owns 394,855 shares of the company’s stock worth $32,303,000 after buying an additional 342,200 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in Parsons by 18.1% during the third quarter. Principal Financial Group Inc. now owns 1,192,943 shares of the company’s stock valued at $123,685,000 after buying an additional 183,117 shares during the period. Institutional investors own 98.02% of the company’s stock.

Parsons Stock Down 0.5 %

Shares of NYSE PSN opened at $95.89 on Thursday. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.47. The company has a market cap of $10.18 billion, a P/E ratio of 145.29, a P/E/G ratio of 1.73 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 business has a 50-day simple moving average of $104.77 and a two-hundred day simple moving average of $91.24.

Parsons (NYSE:PSN) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.07. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.63 billion. Parsons had a net margin of 1.21% and a return on equity of 12.74%. Research analysts anticipate that Parsons Co. will post 3.02 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. KeyCorp boosted their target price on shares of Parsons from $116.00 to $122.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Benchmark upped their price objective on Parsons from $68.00 to $101.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Truist Financial decreased their target price on Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Robert W. Baird increased their price target on Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, Raymond James cut Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price objective on the stock. in a research note on Wednesday, October 23rd. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Parsons presently has an average rating of “Moderate Buy” and an average price target of $105.13.

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.