Burney Co. Sells 11,096 Shares of Parsons Corporation (NYSE:PSN)

Burney Co. cut its holdings in shares of Parsons Corporation (NYSE:PSN - Free Report) by 43.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,256 shares of the company's stock after selling 11,096 shares during the period. Burney Co.'s holdings in Parsons were worth $844,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Y Intercept Hong Kong Ltd boosted its position in Parsons by 570.3% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 16,053 shares of the company's stock worth $950,000 after buying an additional 13,658 shares during the period. IFP Advisors Inc boosted its position in Parsons by 207.7% during the 1st quarter. IFP Advisors Inc now owns 1,517 shares of the company's stock worth $90,000 after buying an additional 1,024 shares during the period. Financial Harvest LLC acquired a new stake in Parsons during the 1st quarter worth approximately $795,000. First Command Advisory Services Inc. acquired a new stake in Parsons during the 1st quarter worth approximately $385,000. Finally, Signaturefd LLC boosted its position in Parsons by 63.1% during the 1st quarter. Signaturefd LLC now owns 610 shares of the company's stock worth $36,000 after buying an additional 236 shares during the period. 98.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Raymond James Financial upgraded shares of Parsons from a "market perform" rating to a "strong-buy" rating and set a $90.00 target price on the stock in a research report on Tuesday, July 8th. Stifel Nicolaus began coverage on shares of Parsons in a research report on Tuesday, June 24th. They set a "buy" rating and a $81.00 target price on the stock. The Goldman Sachs Group decreased their price target on shares of Parsons from $90.00 to $80.00 and set a "buy" rating for the company in a research note on Wednesday, June 4th. Truist Financial boosted their price target on shares of Parsons from $80.00 to $90.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Baird R W lowered shares of Parsons from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 1st. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $86.20.

Parsons Stock Performance

PSN traded up $0.51 during trading on Friday, hitting $76.06. 701,518 shares of the company traded hands, compared to its average volume of 1,029,628. The firm has a market cap of $8.13 billion, a P/E ratio of 32.09, a price-to-earnings-growth ratio of 4.64 and a beta of 0.55. The stock's fifty day moving average is $70.74 and its 200 day moving average is $69.52. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. Parsons Corporation has a one year low of $54.56 and a one year high of $114.68.

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.