Court Place Advisors LLC Invests $216,000 in Parsons Co. (NYSE:PSN)

Court Place Advisors LLC acquired a new stake in shares of Parsons Co. (NYSE:PSN) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 2,081 shares of the company’s stock, valued at approximately $216,000.

A number of other institutional investors have also recently made changes to their positions in PSN. Syntegra Private Wealth Group LLC purchased a new stake in Parsons in the third quarter valued at about $224,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Parsons by 61.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,123,366 shares of the company’s stock valued at $116,471,000 after acquiring an additional 428,662 shares in the last quarter. Net Worth Advisory Group purchased a new position in shares of Parsons in the 3rd quarter valued at approximately $214,000. Stratos Wealth Advisors LLC acquired a new stake in Parsons in the 3rd quarter worth approximately $344,000. Finally, V Square Quantitative Management LLC purchased a new stake in Parsons during the 3rd quarter worth approximately $33,000. Institutional investors and hedge funds own 98.02% of the company’s stock.

Parsons Stock Performance

PSN stock traded up $1.14 during trading on Friday, hitting $105.55. 78,987 shares of the company traded hands, compared to its average volume of 886,123. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.80 and a quick ratio of 1.80. Parsons Co. has a 1 year low of $55.22 and a 1 year high of $109.55. The stock’s 50-day simple moving average is $100.34 and its 200 day simple moving average is $86.94. The company has a market cap of $15.49 billion, a PE ratio of 581.39, a P/E/G ratio of 2.32 and a beta of 0.80.

Parsons (NYSE:PSN) last posted its earnings results on Wednesday, July 31st. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.18. The firm had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Parsons had a net margin of 0.89% and a return on equity of 12.09%. On average, equities analysts expect that Parsons Co. will post 2.88 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on PSN shares. KeyCorp raised their price target on shares of Parsons from $99.00 to $116.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Robert W. Baird lifted their price target on Parsons from $89.00 to $103.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Truist Financial reissued a “buy” rating and issued a $108.00 price objective (up from $100.00) on shares of Parsons in a report on Thursday, August 1st. Raymond James downgraded Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 target price for the company. in a report on Wednesday. Finally, Benchmark increased their price target on shares of Parsons from $68.00 to $101.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $99.00.

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.