5,135 Shares in Parsons Co. (NYSE:PSN) Bought by Prestige Wealth Management Group LLC

Prestige Wealth Management Group LLC purchased a new stake in Parsons Co. (NYSE:PSN) during the 3rd quarter, Holdings Channel.com reports. The firm purchased 5,135 shares of the company’s stock, valued at approximately $532,000.

A number of other institutional investors also recently modified their holdings of PSN. True Wealth Design LLC acquired a new position in Parsons during the third quarter worth $30,000. V Square Quantitative Management LLC bought a new stake in Parsons during the 3rd quarter worth about $33,000. Capital Performance Advisors LLP acquired a new position in shares of Parsons during the 3rd quarter worth about $45,000. Tanglewood Legacy Advisors LLC bought a new position in shares of Parsons in the 2nd quarter valued at about $44,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of Parsons in the third quarter valued at about $72,000. 98.02% of the stock is currently owned by institutional investors.

Parsons Stock Performance

Shares of PSN stock opened at $96.78 on Tuesday. Parsons Co. has a 52 week low of $61.10 and a 52 week high of $114.68. The company has a market capitalization of $10.28 billion, a price-to-earnings ratio of 146.64, a PEG ratio of 1.75 and a beta of 0.74. The company has a 50-day simple moving average of $103.95 and a 200 day simple moving average of $92.47. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 1.55.

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

Analysts Set New Price Targets

Several brokerages recently commented on PSN. Robert W. Baird increased their price target on Parsons from $103.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Raymond James downgraded Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price objective for the company. in a report on Wednesday, October 23rd. Truist Financial lowered their target price on shares of Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Finally, KeyCorp upped their price target on shares of Parsons from $116.00 to $122.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $105.13.

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.