Sivia Capital Partners LLC Purchases Shares of 3,175 Parsons Corporation $PSN

Key Points

• Sivia Capital Partners LLC has acquired a new stake in Parsons Corporation, purchasing 3,175 shares for approximately $228,000 in the second quarter.
• Parsons Corporation received several analyst upgrades, including a raise from "hold" to "strong-buy" by Baird R W, indicating growing market confidence.
• The company reported $0.78 earnings per share for the last quarter, surpassing analysts' expectations of $0.74, although revenue dropped 5.1% year-over-year.

Sivia Capital Partners LLC purchased a new stake in shares of Parsons Corporation (NYSE:PSN - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,175 shares of the company's stock, valued at approximately $228,000.

Several other institutional investors and hedge funds have also modified their holdings of PSN. Versant Capital Management Inc bought a new stake in shares of Parsons during the 1st quarter worth $27,000. UMB Bank n.a. boosted its holdings in Parsons by 238.7% in the 1st quarter. UMB Bank n.a. now owns 552 shares of the company's stock valued at $33,000 after purchasing an additional 389 shares during the period. Fifth Third Bancorp boosted its holdings in Parsons by 1,803.4% in the 1st quarter. Fifth Third Bancorp now owns 552 shares of the company's stock valued at $33,000 after purchasing an additional 523 shares during the period. Banque Transatlantique SA bought a new stake in Parsons in the 1st quarter valued at $34,000. Finally, Signaturefd LLC lifted its stake in shares of Parsons by 63.1% in the first quarter. Signaturefd LLC now owns 610 shares of the company's stock valued at $36,000 after buying an additional 236 shares during the period. 98.02% of the stock is currently owned by hedge funds and other institutional investors.

Parsons Price Performance

Shares of PSN stock traded up $0.60 during trading hours on Friday, reaching $82.03. The company's stock had a trading volume of 2,796,592 shares, compared to its average volume of 1,034,221. The firm's 50 day simple moving average is $77.37 and its 200-day simple moving average is $69.61. The company has a market capitalization of $8.76 billion, a price-to-earnings ratio of 36.62, a PEG ratio of 4.32 and a beta of 0.63. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.47. Parsons Corporation has a fifty-two week low of $54.56 and a fifty-two week high of $114.68.

Parsons (NYSE:PSN - Get Free Report) last posted its quarterly earnings results 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 net margin of 3.70% and a return on equity of 12.36%. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same period last year, the company posted $0.84 EPS. The firm's quarterly revenue was down 5.1% compared to the same quarter last year. Sell-side analysts forecast that Parsons Corporation will post 3.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

PSN has been the subject of several research reports. KeyCorp reiterated an "overweight" rating and issued a $84.00 target price (up previously from $82.00) on shares of Parsons in a research note on Thursday, August 7th. Stifel Nicolaus started coverage on 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 upgraded Parsons from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 7th. Bank of America reduced their target price on Parsons from $100.00 to $95.00 and set a "buy" rating for the company in a research report on Tuesday, June 3rd. Finally, Robert W. Baird raised their price objective on shares of Parsons from $92.00 to $100.00 and gave the stock an "outperform" rating in a report on Wednesday. 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 stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $89.50.

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.