GAMMA Investing LLC Purchases 218 Shares of Parsons Co. (NYSE:PSN)

GAMMA Investing LLC boosted its position in shares of Parsons Co. (NYSE:PSN) by 224.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 315 shares of the company’s stock after acquiring an additional 218 shares during the period. GAMMA Investing LLC’s holdings in Parsons were worth $29,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. True Wealth Design LLC purchased a new stake in shares of Parsons during the 3rd quarter valued at $30,000. V Square Quantitative Management LLC bought a new position in Parsons in the third quarter valued at $33,000. Capital Performance Advisors LLP bought a new position in Parsons in the third quarter valued at $45,000. DekaBank Deutsche Girozentrale purchased a new stake in Parsons during the third quarter valued at about $72,000. Finally, Optimum Investment Advisors bought a new stake in Parsons during the third quarter worth about $145,000. Institutional investors own 98.02% of the company’s stock.

Analyst Upgrades and Downgrades

PSN has been the topic of several recent research reports. KeyCorp reduced their target price on shares of Parsons from $122.00 to $102.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Raymond James downgraded Parsons from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. TD Cowen dropped their target price on Parsons from $117.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Truist Financial reduced their price target on Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. 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 report on Thursday, October 31st. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $108.25.

Parsons Stock Performance

Shares of NYSE PSN opened at $94.41 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.55 and a quick ratio of 1.55. Parsons Co. has a 1 year low of $64.33 and a 1 year high of $114.68. The firm has a fifty day moving average price of $97.10 and a 200-day moving average price of $95.46. The stock has a market cap of $10.03 billion, a PE ratio of 143.05, a price-to-earnings-growth ratio of 1.72 and a beta of 0.74.

Parsons (NYSE:PSN) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.73 by $0.07. Parsons had a return on equity of 12.74% and a net margin of 1.21%. The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.63 billion. Equities analysts anticipate 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.