Barclays PLC Sells 110,455 Shares of Parsons Co. (NYSE:PSN)

Barclays PLC cut its holdings in Parsons Co. (NYSE:PSN) by 69.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 47,962 shares of the company’s stock after selling 110,455 shares during the quarter. Barclays PLC’s holdings in Parsons were worth $4,973,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. State Street Corp lifted its position 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 worth $169,429,000 after purchasing an additional 616,707 shares during the period. Wedge Capital Management L L P NC purchased a new stake in Parsons during the third quarter worth $62,514,000. Allspring Global Investments Holdings LLC boosted its position in Parsons by 61.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,123,366 shares of the company’s stock valued at $116,471,000 after acquiring an additional 428,662 shares in the last quarter. Driehaus Capital Management LLC bought a new stake in Parsons during the 2nd quarter valued at $29,302,000. Finally, Appian Way Asset Management LP increased its holdings in shares of Parsons by 649.9% in the 2nd quarter. Appian Way Asset Management LP now owns 394,855 shares of the company’s stock valued at $32,303,000 after acquiring an additional 342,200 shares during the period. 98.02% of the stock is currently owned by institutional investors.

Parsons Trading Up 0.6 %

NYSE:PSN opened at $95.68 on Friday. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47. The firm has a fifty day simple moving average of $102.14 and a 200-day simple moving average of $93.43. Parsons Co. has a 12 month low of $61.35 and a 12 month high of $114.68. The company has a market capitalization of $10.16 billion, a P/E ratio of 144.97, a PEG ratio of 1.72 and a beta of 0.74.

Parsons (NYSE:PSN) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.07. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Parsons had a return on equity of 12.74% and a net margin of 1.21%. On average, equities research analysts anticipate that Parsons Co. will post 3.02 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PSN. The Goldman Sachs Group upgraded Parsons from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $103.00 to $111.00 in a research note on Thursday, December 12th. TD Cowen upgraded shares of Parsons to a “strong-buy” rating in a report on Thursday. Raymond James lowered shares of Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price objective for the company. in a research note on Wednesday, October 23rd. Truist Financial lowered their target price on shares of Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Finally, KeyCorp upped their price target on Parsons from $116.00 to $122.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $108.88.

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.