Parsons Co. (NYSE:PSN) Shares Sold by Allworth Financial LP

Allworth Financial LP lowered its holdings in Parsons Co. (NYSE:PSN) by 5.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 6,232 shares of the company’s stock after selling 353 shares during the quarter. Allworth Financial LP’s holdings in Parsons were worth $591,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. ORG Wealth Partners LLC acquired a new stake in shares of Parsons in the fourth quarter worth $26,000. GAMMA Investing LLC boosted its stake in shares of Parsons by 224.7% in the fourth quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock valued at $29,000 after purchasing an additional 218 shares during the period. True Wealth Design LLC purchased a new position in shares of Parsons in the third quarter valued at $30,000. Principal Securities Inc. purchased a new position in shares of Parsons in the fourth quarter valued at $33,000. Finally, R Squared Ltd purchased a new position in shares of Parsons in the fourth quarter valued at $38,000. Institutional investors and hedge funds own 98.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. William Blair upgraded shares of Parsons from a “market perform” rating to an “outperform” rating in a research note on Tuesday. Truist Financial dropped 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. KeyCorp dropped their target price on shares of Parsons from $122.00 to $102.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. The Goldman Sachs Group raised shares of Parsons from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $103.00 to $111.00 in a report on Thursday, December 12th. Finally, Robert W. Baird dropped their price objective on shares of Parsons from $125.00 to $78.00 and set an “outperform” rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $102.11.

Parsons Stock Performance

Parsons stock opened at $61.82 on Friday. The firm’s 50 day simple moving average is $87.36 and its 200-day simple moving average is $95.64. The company has a market cap of $6.57 billion, a P/E ratio of 93.67, a price-to-earnings-growth ratio of 1.11 and a beta of 0.73. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.55 and a quick ratio of 1.55. Parsons Co. has a fifty-two week low of $59.90 and a fifty-two week high of $114.68.

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.