Jump Financial LLC Sells 55,265 Shares of Parsons Co. (NYSE:PSN)

Jump Financial LLC lowered its stake in Parsons Co. (NYSE:PSN - Free Report) by 75.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,400 shares of the company's stock after selling 55,265 shares during the quarter. Jump Financial LLC's holdings in Parsons were worth $1,154,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. DekaBank Deutsche Girozentrale purchased a new position in shares of Parsons during the 3rd quarter valued at approximately $38,000. Covestor Ltd grew its stake in Parsons by 126.0% in the third quarter. Covestor Ltd now owns 1,521 shares of the company's stock worth $83,000 after purchasing an additional 848 shares in the last quarter. Clarus Wealth Advisors bought a new stake in Parsons in the fourth quarter valued at about $213,000. Blackston Financial Advisory Group LLC acquired a new stake in Parsons during the fourth quarter valued at approximately $205,000. Finally, Royal Fund Management LLC bought a new position in Parsons during the 4th quarter worth approximately $205,000. 98.02% of the stock is currently owned by hedge funds and other institutional investors.

Parsons Price Performance

Shares of NYSE PSN traded down $0.04 during mid-day trading on Friday, reaching $76.51. 515,086 shares of the company traded hands, compared to its average volume of 776,351. The firm has a market cap of $11.23 billion, a PE ratio of 425.08, a price-to-earnings-growth ratio of 2.85 and a beta of 0.86. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.79 and a quick ratio of 1.79. Parsons Co. has a fifty-two week low of $42.79 and a fifty-two week high of $85.44. The stock has a fifty day simple moving average of $80.05 and a 200-day simple moving average of $71.24.

Parsons (NYSE:PSN - Get Free Report) last announced its earnings results on Wednesday, February 14th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.13. Parsons had a return on equity of 11.27% and a net margin of 0.49%. The business had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.33 billion. During the same quarter last year, the business posted $0.45 earnings per share. The company's quarterly revenue was up 36.4% on a year-over-year basis. Equities research analysts anticipate that Parsons Co. will post 2.57 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PSN shares. Raymond James raised Parsons from an "outperform" rating to a "strong-buy" rating and upped their price target for the company from $82.00 to $95.00 in a research report on Wednesday, May 1st. Benchmark reissued a "buy" rating and issued a $68.00 target price on shares of Parsons in a report on Thursday, April 4th. Truist Financial increased their price target on Parsons from $84.00 to $100.00 and gave the stock a "buy" rating in a research report on Tuesday, April 9th. The Goldman Sachs Group boosted their price objective on Parsons from $73.00 to $81.00 and gave the company a "neutral" rating in a research report on Tuesday, April 16th. Finally, KeyCorp raised their target price on Parsons from $89.00 to $90.00 and gave the company an "overweight" rating in a research note on Friday, April 19th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $83.10.

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.