Versor Investments LP invested $360,000 in Parsons Co. (NYSE:PSN)

Versor Investments LP bought a new position in shares of Parsons Co. (NYSE:PSN – Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 4,400 shares of the company’s stock, valued at approximately $360,000.

Other hedge funds have added to or reduced their stakes in the company. Tanglewood Legacy Advisors LLC purchased a new position in Parsons in the second quarter valued at $44,000. TFO Wealth Partners LLC boosted its stake in Parsons by 18,200.0% in the 4th quarter. TFO Wealth Partners LLC now owns 732 shares of the company’s stock worth $46,000 after acquiring an additional 728 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Parsons in the first quarter valued at approximately $62,000. Psagot Value Holdings Ltd. Israel grew its position in shares of Parsons by 700.0% during the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 1,112 shares of the company’s stock worth $70,000 after buying an additional 973 shares. of shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Parsons by 23.6% during the second quarter. Blue Trust Inc. now owns 1,041 shares of the company’s stock worth $86,000 after purchasing an additional 199 shares during the period. 98.02% of shares are owned by institutional investors and hedge funds.

Analysts on Wall Street are forecasting an increase

PSN has been the subject of several recent research reports. Truist Financial reiterated a “buy” rating and issued a $108.00 target price (up from $100.00) on shares of Parsons in a research note on Thursday, August 1st. Robert W. Baird upped their target price on Parsons from $89.00 to $103.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. KeyCorp boosted their price target on Parsons from $90.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Benchmark boosted their price objective on shares of Parsons from $68.00 to $101.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Stifel Nicolaus boosted their target price on shares of Parsons from $95.00 to $97.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. One equities research analyst has 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. The company currently has a consensus rating of “Buy” and an average price target of $94.67, according to MarketBeat.com.

Get the latest research report on Parsons

Parsons stock performance

Shares of Parsons stock opened at $93.56 on Friday. The stock has a market cap of $13.73 billion, a PE ratio of 519.78, a P/E/G ratio of 2.11 and a beta of 0.80. The company has a quick ratio of 1.80, a current ratio of 1.80, and a debt-to-equity ratio of 0.54. Parsons Co. has a 12-month low of $53.56 and a 12-month high of $95.88. The company’s 50-day moving average price is $86.37, and its two-hundred-day moving average price is $81.69.

Parsons (NYSE:PSN – Get Free Report ) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.18. The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.53 billion. Parsons had a net margin of 0.89% and a return on equity of 12.09%. As a group, analysts expect Parsons Co. to post 2.81 earnings per share for the current fiscal year.

About Parsons

(Free report)

Parsons Corporation provides integrated solutions and services to the defense, intelligence and critical infrastructure markets in North America, the Middle East and internationally. The company operates through the Federal Solutions and Critical Infrastructure segments. The Federal Solutions segment provides critical technologies such as cybersecurity; missile defense; intelligence; space and ground launch systems; space and weapon system resistance; geospatial intelligence; signal intelligence; environmental remediation; border security, critical infrastructure protection; against unmanned aerial systems; biometrics and biosurveillance solutions in the US

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