Parsons Co. (NYSE:PSN) Shares Purchased by Ieq Capital LLC

Ieq Capital LLC raised its stake in shares of Parsons Co. (NYSE:PSN) by 676.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,019 shares of the company’s stock after acquiring an additional 16,570 shares during the period. Ieq Capital LLC’s holdings in Parsons were worth $1,755,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in PSN. Fisher Asset Management LLC raised its holdings in Parsons by 2.1% in the 3rd quarter. Fisher Asset Management LLC now owns 4,364 shares of the company’s stock valued at $452,000 after acquiring an additional 90 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of Parsons by 3.2% in the third quarter. CIBC Asset Management Inc now owns 3,124 shares of the company’s stock worth $324,000 after buying an additional 96 shares during the last quarter. Chartwell Investment Partners LLC increased its holdings in shares of Parsons by 0.8% in the 3rd quarter. Chartwell Investment Partners LLC now owns 14,536 shares of the company’s stock valued at $1,507,000 after acquiring an additional 117 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Parsons by 224.7% during the 4th quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock valued at $29,000 after buying an additional 218 shares during the last quarter. Finally, Assetmark Inc. increased its position in Parsons by 10.7% in the third quarter. Assetmark Inc. now owns 2,750 shares of the company’s stock worth $285,000 after buying an additional 265 shares during the period. 98.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PSN shares. Truist Financial decreased their target price on shares of Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. KeyCorp decreased their target price on Parsons from $122.00 to $102.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. William Blair upgraded shares of Parsons from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 18th. TD Cowen downgraded Parsons from a “buy” rating to a “hold” rating and set a $105.00 price objective on the stock. in a report on Friday. Finally, The Goldman Sachs Group raised Parsons from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $103.00 to $111.00 in a research report on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $102.11.

Parsons Stock Performance

PSN opened at $59.45 on Monday. Parsons Co. has a 12-month low of $57.86 and a 12-month high of $114.68. The firm has a market capitalization of $6.35 billion, a P/E ratio of 78.22, a price-to-earnings-growth ratio of 0.93 and a beta of 0.73. The stock’s 50 day moving average price is $85.91 and its two-hundred day moving average price is $95.24. The company has a quick ratio of 1.55, a current ratio of 1.29 and a debt-to-equity ratio of 0.31.

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.