TimesSquare Capital Management LLC Acquires Shares of 314,120 Parsons Corporation $PSN

TimesSquare Capital Management LLC acquired a new position in shares of Parsons Corporation (NYSE:PSN) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 314,120 shares of the company’s stock, valued at approximately $22,544,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. CWM LLC increased its stake in shares of Parsons by 2.1% in the first quarter. CWM LLC now owns 7,810 shares of the company’s stock valued at $462,000 after purchasing an additional 163 shares during the period. True Wealth Design LLC lifted its holdings in shares of Parsons by 63.9% in the second quarter. True Wealth Design LLC now owns 485 shares of the company’s stock valued at $35,000 after purchasing an additional 189 shares in the last quarter. Roanoke Asset Management Corp NY grew its position in Parsons by 0.5% during the first quarter. Roanoke Asset Management Corp NY now owns 38,935 shares of the company’s stock valued at $2,305,000 after purchasing an additional 200 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Parsons by 6.8% during the 2nd quarter. Blue Trust Inc. now owns 3,367 shares of the company’s stock worth $242,000 after purchasing an additional 214 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in shares of Parsons by 63.1% in the 1st quarter. Signaturefd LLC now owns 610 shares of the company’s stock valued at $36,000 after purchasing an additional 236 shares during the last quarter. 98.02% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on PSN shares. Truist Financial raised their target price on Parsons from $90.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, September 30th. Zacks Research upgraded shares of Parsons from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 14th. KeyCorp upped their target price on shares of Parsons from $87.00 to $93.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Baird R W upgraded Parsons from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Parsons in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.40.

Parsons Stock Performance

NYSE:PSN opened at $86.31 on Thursday. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.46. Parsons Corporation has a twelve month low of $54.56 and a twelve month high of $114.19. The firm has a market capitalization of $9.19 billion, a PE ratio of 39.59, a price-to-earnings-growth ratio of 4.55 and a beta of 0.62. The stock’s 50-day simple moving average is $82.40 and its 200 day simple moving average is $75.71.

Parsons (NYSE:PSN) last posted its earnings results on Wednesday, November 5th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.74 by $0.12. The firm had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.67 billion. Parsons had a return on equity of 11.98% and a net margin of 3.69%.The business’s quarterly revenue was down 10.4% on a year-over-year basis. During the same period last year, the company earned $0.95 earnings per share. Parsons has set its FY 2025 guidance at EPS. On average, analysts anticipate that Parsons Corporation will post 3.58 EPS for the current fiscal year.

Parsons 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.