Driehaus Capital Management LLC Buys New Shares in Parsons Co. (NYSE:PSN)

Driehaus Capital Management LLC bought a new stake in Parsons Co. (NYSE:PSN) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 358,177 shares of the company’s stock, valued at approximately $29,302,000. Driehaus Capital Management LLC owned 0.34% of Parsons as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Caas Capital Management LP bought a new stake in Parsons in the fourth quarter valued at $3,075,000. Seaside Wealth Management Inc. bought a new stake in Parsons in the first quarter valued at $1,240,000. Tidal Investments LLC bought a new stake in Parsons in the first quarter valued at $853,000. Russell Investments Group Ltd. increased its stake in Parsons by 17,130.4% in the first quarter. Russell Investments Group Ltd. now owns 9,649 shares of the company’s stock valued at $800,000 after purchasing an additional 9,593 shares in the last quarter. Finally, Hennessy Advisors Inc. increased its stake in Parsons by 14.1% in the first quarter. Hennessy Advisors Inc. now owns 437,900 shares of the company’s stock valued at $36,324,000 after purchasing an additional 54,200 shares in the last quarter. 98.02% of the stock is owned by institutional investors.

Parsons Stock Up 0.0 %

Parsons stock opened at $103.63 on Friday. Parsons Co. has a fifty-two week low of $53.56 and a fifty-two week high of $104.33. The stock has a market cap of $11.00 billion, a PE ratio of 575.75, a price-to-earnings-growth ratio of 2.18 and a beta of 0.80. The firm’s 50-day simple moving average is $92.60 and its 200 day simple moving average is $83.75. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.80 and a current ratio of 1.80.

Parsons (NYSE:PSN) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.18. Parsons had a net margin of 0.89% and a return on equity of 12.09%. The business had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Research analysts predict that Parsons Co. will post 2.88 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Truist Financial reaffirmed a “buy” rating and issued a $108.00 price target (up from $100.00) on shares of Parsons in a research note on Thursday, August 1st. Robert W. Baird boosted their target price on shares of Parsons from $89.00 to $103.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Stifel Nicolaus boosted their target price on shares of Parsons from $95.00 to $97.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Benchmark boosted their target price on shares of Parsons from $68.00 to $101.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, KeyCorp boosted their target price on shares of Parsons from $90.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Parsons presently has a consensus rating of “Buy” and a consensus target price of $94.67.

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.