Zurcher Kantonalbank Zurich Cantonalbank Buys 2,285 Shares of Parsons Co. (NYSE:PSN)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Parsons Co. (NYSE:PSN) by 10.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,938 shares of the company’s stock after buying an additional 2,285 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Parsons were worth $2,301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of PSN. ORG Wealth Partners LLC bought a new stake in shares of Parsons during the fourth quarter valued at approximately $26,000. GAMMA Investing LLC raised its position in shares of Parsons by 224.7% during the fourth quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock valued at $29,000 after buying an additional 218 shares during the last quarter. True Wealth Design LLC bought a new stake in shares of Parsons during the third quarter valued at approximately $30,000. Principal Securities Inc. bought a new stake in shares of Parsons during the fourth quarter valued at approximately $33,000. Finally, R Squared Ltd bought a new stake in shares of Parsons during the fourth quarter valued at approximately $38,000. Institutional investors own 98.02% of the company’s stock.

Parsons Stock Up 2.9 %

NYSE PSN opened at $58.29 on Monday. The company has a quick ratio of 1.55, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. The company has a fifty day moving average of $75.21 and a two-hundred day moving average of $91.53. The firm has a market capitalization of $6.22 billion, a price-to-earnings ratio of 76.70, a PEG ratio of 0.93 and a beta of 0.78. Parsons Co. has a 52 week low of $54.56 and a 52 week high of $114.68.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PSN shares. KeyCorp reduced their price target on shares of Parsons from $122.00 to $102.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. William Blair upgraded shares of Parsons from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 18th. Jefferies Financial Group reduced their price target on shares of Parsons from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Raymond James cut shares of Parsons from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Finally, Truist Financial reduced their price target on shares of Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $99.44.

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.