Quantbot Technologies LP Has $3.35 Million Position in Parsons Co. (NYSE:PSN)

Quantbot Technologies LP increased its holdings in shares of Parsons Co. (NYSE:PSN) by 17.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,302 shares of the company’s stock after buying an additional 4,792 shares during the period. Quantbot Technologies LP’s holdings in Parsons were worth $3,349,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Fisher Asset Management LLC lifted its holdings in shares of Parsons by 2.1% during the third quarter. Fisher Asset Management LLC now owns 4,364 shares of the company’s stock worth $452,000 after purchasing an additional 90 shares during the period. CIBC Asset Management Inc grew its position in shares of Parsons by 3.2% in the 3rd quarter. CIBC Asset Management Inc now owns 3,124 shares of the company’s stock valued at $324,000 after buying an additional 96 shares during the last quarter. Chartwell Investment Partners LLC increased its stake in shares of Parsons by 0.8% in the third quarter. Chartwell Investment Partners LLC now owns 14,536 shares of the company’s stock valued at $1,507,000 after buying an additional 117 shares during the period. AE Wealth Management LLC raised its position in shares of Parsons by 2.7% during the second quarter. AE Wealth Management LLC now owns 5,763 shares of the company’s stock worth $471,000 after acquiring an additional 150 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Parsons by 23.6% in the second quarter. Blue Trust Inc. now owns 1,041 shares of the company’s stock worth $86,000 after acquiring an additional 199 shares during the period. 98.02% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on PSN shares. Truist Financial decreased their target price on shares of Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. KeyCorp lifted their target price on shares of Parsons from $116.00 to $122.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Raymond James cut shares of Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price target on the stock. in a research report on Wednesday, October 23rd. Benchmark lifted their price objective on Parsons from $68.00 to $101.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Robert W. Baird boosted their price objective on Parsons from $103.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $105.13.

Parsons Trading Down 0.5 %

NYSE PSN opened at $95.89 on Thursday. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.47. The business has a 50 day moving average price of $104.77 and a 200-day moving average price of $91.24. Parsons Co. has a 52 week low of $61.10 and a 52 week high of $114.68. The company has a market cap of $10.18 billion, a price-to-earnings ratio of 145.29, a P/E/G ratio of 1.73 and a beta of 0.80.

Parsons (NYSE:PSN) last posted its earnings results on Wednesday, October 30th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.73 by $0.07. Parsons had a net margin of 1.21% and a return on equity of 12.74%. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.63 billion. As a group, equities analysts expect that Parsons Co. will post 3.02 earnings per share 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.