IFP Advisors Inc Acquires 1,024 Shares of Parsons Corporation (NYSE:PSN)

IFP Advisors Inc raised its holdings in Parsons Corporation (NYSE:PSN) by 207.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,517 shares of the company’s stock after buying an additional 1,024 shares during the quarter. IFP Advisors Inc’s holdings in Parsons were worth $90,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Financial Harvest LLC bought a new stake in Parsons in the 1st quarter valued at $795,000. First Command Advisory Services Inc. bought a new stake in Parsons in the 1st quarter valued at $385,000. Signaturefd LLC increased its holdings in Parsons by 63.1% in the 1st quarter. Signaturefd LLC now owns 610 shares of the company’s stock valued at $36,000 after buying an additional 236 shares during the period. Edgestream Partners L.P. increased its holdings in Parsons by 322.0% in the 1st quarter. Edgestream Partners L.P. now owns 53,706 shares of the company’s stock valued at $3,180,000 after buying an additional 40,980 shares during the period. Finally, Private Capital Advisors Inc. bought a new stake in Parsons in the 1st quarter valued at $211,000. Institutional investors own 98.02% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Baird R W downgraded shares of Parsons from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 1st. Jefferies Financial Group boosted their target price on shares of Parsons from $70.00 to $80.00 and gave the company a “hold” rating in a research note on Wednesday, July 2nd. The Goldman Sachs Group reduced their target price on shares of Parsons from $90.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, June 4th. Bank of America reduced their target price on shares of Parsons from $100.00 to $95.00 and set a “buy” rating on the stock in a research note on Tuesday, June 3rd. Finally, Truist Financial boosted their target price on shares of Parsons from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $86.20.

Parsons Stock Down 0.5%

Shares of NYSE PSN opened at $75.14 on Thursday. The firm’s 50-day simple moving average is $71.18 and its 200 day simple moving average is $69.18. The company has a market cap of $8.03 billion, a price-to-earnings ratio of 31.70, a price-to-earnings-growth ratio of 4.64 and a beta of 0.55. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. Parsons Corporation has a 12-month low of $54.56 and a 12-month 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.