10,325 Shares in Parsons Corporation $PSN Purchased by Ticino Wealth

Ticino Wealth bought a new stake in Parsons Corporation (NYSE:PSN) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 10,325 shares of the company’s stock, valued at approximately $638,000.

Other hedge funds have also modified their holdings of the company. Mather Group LLC. purchased a new stake in Parsons during the 3rd quarter worth about $25,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Parsons in the 3rd quarter valued at about $40,000. Farther Finance Advisors LLC boosted its holdings in shares of Parsons by 613.2% in the 4th quarter. Farther Finance Advisors LLC now owns 756 shares of the company’s stock valued at $47,000 after buying an additional 650 shares in the last quarter. NewEdge Advisors LLC increased its position in Parsons by 38.0% during the first quarter. NewEdge Advisors LLC now owns 959 shares of the company’s stock worth $57,000 after buying an additional 264 shares during the period. Finally, Penserra Capital Management LLC purchased a new stake in shares of Parsons in the third quarter valued at about $59,000. 98.02% of the stock is currently owned by institutional investors and hedge funds.

Parsons Trading Up 0.1%

Shares of PSN stock opened at $54.99 on Tuesday. The firm’s 50-day simple moving average is $58.79 and its 200-day simple moving average is $69.47. The firm has a market cap of $5.82 billion, a P/E ratio of 24.96, a PEG ratio of 1.74 and a beta of 0.73. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.75 and a quick ratio of 1.75. Parsons Corporation has a 1-year low of $49.38 and a 1-year high of $89.50.

Parsons (NYSE:PSN) last announced its earnings results on Wednesday, February 11th. The company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.06). Parsons had a return on equity of 11.81% and a net margin of 3.79%.The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same period in the previous year, the firm posted $0.78 earnings per share. The firm’s revenue was down 7.5% compared to the same quarter last year. As a group, equities analysts forecast that Parsons Corporation will post 2.99 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PSN shares. Zacks Research raised Parsons from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Citigroup reduced their price target on Parsons from $88.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, April 2nd. UBS Group cut their price target on shares of Parsons from $104.00 to $95.00 and set a “buy” rating for the company in a report on Thursday, February 12th. Stifel Nicolaus cut their target price on shares of Parsons from $94.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, December 23rd. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $60.00 price target on shares of Parsons in a research note on Monday, April 13th. Nine research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $78.58.

About Parsons

Parsons Corporation (NYSE: PSN) is a technology-driven engineering, construction, technical and professional services firm. The company delivers end-to-end solutions that span feasibility studies, design and engineering, construction management, system integration and ongoing operations support. Parsons serves both government and commercial clients and focuses on critical infrastructure, defense, security, intelligence and environmental programs.

Core services include program and construction management for transportation systems, water and environmental infrastructure, cybersecurity and advanced systems integration.