Scientech Research LLC Takes $841,000 Position in Parsons Corporation $PSN

Scientech Research LLC bought a new stake in Parsons Corporation (NYSE:PSN - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 14,201 shares of the company's stock, valued at approximately $841,000.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Parsons by 8.2% in the 1st quarter. Vanguard Group Inc. now owns 4,952,299 shares of the company's stock valued at $293,226,000 after acquiring an additional 376,764 shares in the last quarter. Groupama Asset Managment purchased a new position in shares of Parsons in the 1st quarter valued at about $136,183,000. Mackenzie Financial Corp boosted its stake in shares of Parsons by 53.8% in the 1st quarter. Mackenzie Financial Corp now owns 1,084,288 shares of the company's stock valued at $64,201,000 after buying an additional 379,254 shares during the period. Channing Capital Management LLC boosted its stake in shares of Parsons by 42.9% in the 1st quarter. Channing Capital Management LLC now owns 1,062,180 shares of the company's stock valued at $62,892,000 after buying an additional 319,133 shares during the period. Finally, SW Investment Management LLC boosted its stake in shares of Parsons by 38.9% in the 1st quarter. SW Investment Management LLC now owns 500,000 shares of the company's stock valued at $29,605,000 after buying an additional 140,000 shares during the period. 98.02% of the stock is owned by institutional investors and hedge funds.

Parsons Stock Performance

NYSE PSN traded up $0.26 on Wednesday, reaching $74.76. The stock had a trading volume of 969,704 shares, compared to its average volume of 925,558. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.61 and a current ratio of 1.61. Parsons Corporation has a 12-month low of $54.56 and a 12-month high of $114.68. The business's 50-day moving average price is $76.85 and its 200 day moving average price is $68.55. The stock has a market cap of $7.98 billion, a P/E ratio of 33.38, a price-to-earnings-growth ratio of 3.93 and a beta of 0.63.

Parsons (NYSE:PSN - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.78 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.04. Parsons had a return on equity of 12.36% and a net margin of 3.70%.The company had revenue of $1.58 billion during the quarter, compared to analysts' expectations of $1.60 billion. During the same quarter in the previous year, the business earned $0.84 earnings per share. The firm's revenue for the quarter was down 5.1% on a year-over-year basis. As a group, equities analysts expect that Parsons Corporation will post 3.58 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Stifel Nicolaus assumed coverage on Parsons in a research note on Tuesday, June 24th. They issued a "buy" rating and a $81.00 price objective for the company. KeyCorp reiterated an "overweight" rating and issued a $84.00 price objective (up previously from $82.00) on shares of Parsons in a research note on Thursday, August 7th. Raymond James Financial upgraded Parsons from a "market perform" rating to a "strong-buy" rating and set a $90.00 price objective for the company in a research note on Tuesday, July 8th. Truist Financial boosted their target price on Parsons from $80.00 to $90.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Finally, Baird R W upgraded Parsons from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $88.70.

Parsons Company 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.