William Blair Upgrades Parsons (NYSE:PSN) to Outperform

William Blair upgraded shares of Parsons (NYSE:PSN) from a market perform rating to an outperform rating in a research note released on Tuesday morning, Marketbeat.com reports.

Other analysts have also recently issued reports about the company. TD Cowen reduced their price objective on Parsons from $117.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. KeyCorp reduced their price target on Parsons from $122.00 to $102.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Raymond James downgraded Parsons from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Jefferies Financial Group reduced their target price on shares of Parsons from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Finally, Robert W. Baird increased their price objective on shares of Parsons from $103.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $102.11.

Parsons Trading Down 5.0 %

NYSE PSN opened at $61.82 on Tuesday. Parsons has a one year low of $59.90 and a one year high of $114.68. The firm has a 50 day simple moving average of $87.36 and a 200-day simple moving average of $95.64. The firm has a market cap of $6.57 billion, a price-to-earnings ratio of 93.67, a PEG ratio of 1.11 and a beta of 0.73. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 1.55.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Parsons by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 4,575,535 shares of the company’s stock worth $422,093,000 after acquiring an additional 59,545 shares in the last quarter. Artisan Partners Limited Partnership grew its holdings in shares of Parsons by 271.6% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,069,724 shares of the company’s stock worth $190,932,000 after purchasing an additional 1,512,812 shares during the last quarter. Invesco Ltd. increased its position in shares of Parsons by 14.2% during the fourth quarter. Invesco Ltd. now owns 2,056,390 shares of the company’s stock worth $189,702,000 after purchasing an additional 255,810 shares in the last quarter. State Street Corp lifted its holdings in shares of Parsons by 60.6% in the 3rd quarter. State Street Corp now owns 1,634,155 shares of the company’s stock valued at $169,429,000 after purchasing an additional 616,707 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Parsons by 18.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,192,943 shares of the company’s stock valued at $123,685,000 after purchasing an additional 183,117 shares during the period. Institutional investors and hedge funds own 98.02% of the company’s stock.

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.