Sequoia Financial Advisors LLC Acquires 625 Shares of Parsons Corporation $PSN

Sequoia Financial Advisors LLC lifted its position in shares of Parsons Corporation (NYSE:PSN) by 12.2% in the 2nd quarter, Holdings Channel reports. The fund owned 5,731 shares of the company’s stock after buying an additional 625 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Parsons were worth $411,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Banque Transatlantique SA bought a new position in shares of Parsons during the 1st quarter worth $34,000. Signaturefd LLC grew its stake in shares of Parsons by 63.1% during the 1st quarter. Signaturefd LLC now owns 610 shares of the company’s stock worth $36,000 after acquiring an additional 236 shares during the period. NewEdge Advisors LLC grew its stake in shares of Parsons by 38.0% during the 1st quarter. NewEdge Advisors LLC now owns 959 shares of the company’s stock worth $57,000 after acquiring an additional 264 shares during the period. GAMMA Investing LLC grew its stake in shares of Parsons by 229.5% during the 1st quarter. GAMMA Investing LLC now owns 1,038 shares of the company’s stock worth $61,000 after acquiring an additional 723 shares during the period. Finally, Jones Financial Companies Lllp grew its stake in shares of Parsons by 433.9% during the 1st quarter. Jones Financial Companies Lllp now owns 1,260 shares of the company’s stock worth $75,000 after acquiring an additional 1,024 shares during the period. Institutional investors own 98.02% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on PSN. Jefferies Financial Group increased their price target on Parsons from $70.00 to $80.00 and gave the stock a “hold” rating in a research note on Wednesday, July 2nd. Stifel Nicolaus initiated coverage on Parsons in a report on Tuesday, June 24th. They set a “buy” rating and a $81.00 target price for the company. Truist Financial upped their price target on Parsons from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, September 30th. Baird R W upgraded Parsons from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. Finally, Raymond James Financial upgraded Parsons from a “market perform” rating to a “strong-buy” rating and set a $90.00 price target on the stock in a research report on Tuesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $91.40.

Parsons Stock Performance

NYSE:PSN opened at $84.87 on Wednesday. The business’s 50-day moving average price is $81.20 and its two-hundred day moving average price is $73.43. Parsons Corporation has a twelve month low of $54.56 and a twelve month high of $114.68. The stock has a market cap of $9.06 billion, a P/E ratio of 37.89, a PEG ratio of 4.46 and a beta of 0.64. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.47.

Parsons (NYSE:PSN) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.04. Parsons had a return on equity of 12.36% and a net margin of 3.70%.The firm had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter last year, the firm posted $0.84 EPS. The company’s revenue was down 5.1% compared to the same quarter last year. As a group, equities analysts predict that Parsons Corporation will post 3.58 EPS for the current fiscal year.

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.