Apollon Wealth Management LLC Reduces Position in Parsons Co. (NYSE:PSN)

Apollon Wealth Management LLC trimmed its holdings in shares of Parsons Co. (NYSE:PSN) by 20.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,302 shares of the company’s stock after selling 595 shares during the quarter. Apollon Wealth Management LLC’s holdings in Parsons were worth $212,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. CWM LLC increased its holdings in Parsons by 2,752.2% during the 3rd quarter. CWM LLC now owns 5,134 shares of the company’s stock worth $532,000 after purchasing an additional 4,954 shares during the last quarter. Creative Planning increased its stake in shares of Parsons by 15.0% in the third quarter. Creative Planning now owns 8,490 shares of the company’s stock worth $880,000 after buying an additional 1,109 shares during the last quarter. V Square Quantitative Management LLC bought a new position in Parsons during the 3rd quarter valued at $33,000. Stratos Wealth Advisors LLC bought a new position in Parsons during the 3rd quarter valued at $344,000. Finally, Net Worth Advisory Group bought a new stake in shares of Parsons in the 3rd quarter worth about $214,000. Hedge funds and other institutional investors own 98.02% of the company’s stock.

Analyst Ratings Changes

PSN has been the topic of several research analyst reports. TD Cowen reduced their price target on shares of Parsons from $117.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Truist Financial reduced their target price on Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. KeyCorp lowered their price target on Parsons from $122.00 to $102.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Jefferies Financial Group reduced their price objective on Parsons from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Finally, Raymond James lowered shares of Parsons from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $107.33.

Parsons Stock Performance

PSN stock opened at $73.37 on Friday. The stock’s fifty day moving average is $88.88 and its two-hundred day moving average is $96.04. The stock has a market capitalization of $7.79 billion, a price-to-earnings ratio of 111.16, a PEG ratio of 1.17 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. Parsons Co. has a 1 year low of $72.12 and a 1 year high of $114.68.

About Parsons

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.