First Command Advisory Services Inc. Makes New $385,000 Investment in Parsons Corporation (NYSE:PSN)

First Command Advisory Services Inc. purchased a new stake in Parsons Corporation (NYSE:PSN - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 6,505 shares of the company's stock, valued at approximately $385,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CIBC Private Wealth Group LLC bought a new stake in shares of Parsons during the fourth quarter worth about $25,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Parsons during the fourth quarter worth about $25,000. Huntington National Bank increased its position in shares of Parsons by 28,900.0% during the fourth quarter. Huntington National Bank now owns 290 shares of the company's stock worth $27,000 after acquiring an additional 289 shares in the last quarter. Versant Capital Management Inc bought a new stake in shares of Parsons during the first quarter worth about $27,000. Finally, Quarry LP bought a new stake in Parsons in the 4th quarter worth about $30,000. 98.02% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Raymond James Financial raised shares of Parsons from a "market perform" rating to a "strong-buy" rating and set a $90.00 price objective for the company in a research report on Tuesday, July 8th. The Goldman Sachs Group reduced their price objective on shares of Parsons from $90.00 to $80.00 and set a "buy" rating for the company in a research report on Wednesday, June 4th. Stifel Nicolaus assumed coverage on shares of Parsons in a research report on Tuesday, June 24th. They issued a "buy" rating and a $81.00 price objective for the company. Baird R W downgraded shares of Parsons from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 1st. Finally, Truist Financial reaffirmed a "buy" rating and issued a $80.00 price objective (up from $70.00) on shares of Parsons in a research report on Thursday, May 1st. Four investment 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's stock. According to MarketBeat, Parsons presently has a consensus rating of "Moderate Buy" and an average price target of $85.20.

Parsons Stock Performance

Shares of Parsons stock traded down $0.29 on Friday, reaching $76.30. 134,263 shares of the company traded hands, compared to its average volume of 1,213,733. Parsons Corporation has a 52 week low of $54.56 and a 52 week high of $114.68. The company has a 50 day moving average of $69.62 and a 200 day moving average of $70.18. The firm has a market capitalization of $8.15 billion, a PE ratio of 32.20, a PEG ratio of 4.45 and a beta of 0.55. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 1.29.

Parsons declared that its board has approved a stock buyback program on Monday, March 24th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the company to purchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its shares are undervalued.

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.