Parsons Co. (NYSE:PSN) Shares Purchased by Roanoke Asset Management Corp NY

Roanoke Asset Management Corp NY grew its holdings in Parsons Co. (NYSE:PSN) by 55.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,735 shares of the company’s stock after buying an additional 13,850 shares during the quarter. Roanoke Asset Management Corp NY’s holdings in Parsons were worth $4,016,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of PSN. Janney Montgomery Scott LLC acquired a new stake in shares of Parsons in the 1st quarter valued at approximately $1,451,000. GSA Capital Partners LLP lifted its holdings in shares of Parsons by 267.0% in the 1st quarter. GSA Capital Partners LLP now owns 29,657 shares of the company’s stock valued at $2,460,000 after buying an additional 21,575 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of Parsons in the 1st quarter valued at approximately $290,000. Quantbot Technologies LP lifted its holdings in shares of Parsons by 33.9% in the 1st quarter. Quantbot Technologies LP now owns 50,543 shares of the company’s stock valued at $4,193,000 after buying an additional 12,784 shares during the period. Finally, SG Americas Securities LLC increased its stake in Parsons by 872.4% in the 1st quarter. SG Americas Securities LLC now owns 39,586 shares of the company’s stock valued at $3,284,000 after purchasing an additional 35,515 shares in the last quarter. 98.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PSN has been the subject of several research analyst reports. Raymond James downgraded Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price objective for the company. in a research note on Wednesday, October 23rd. Benchmark raised their price target on Parsons from $68.00 to $101.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Truist Financial reissued a “buy” rating and set a $108.00 price target (up previously from $100.00) on shares of Parsons in a research report on Thursday, August 1st. Robert W. Baird raised their price target on Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, KeyCorp raised their price target on Parsons from $116.00 to $122.00 and gave the stock an “overweight” rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Parsons has an average rating of “Moderate Buy” and a consensus price target of $102.11.

Parsons Price Performance

Shares of Parsons stock opened at $108.72 on Friday. The business’s fifty day moving average price is $101.84 and its 200 day moving average price is $88.03. The stock has a market capitalization of $11.54 billion, a P/E ratio of 164.73, a PEG ratio of 2.37 and a beta of 0.80. Parsons Co. has a twelve month low of $60.38 and a twelve month high of $112.19. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.54.

Parsons (NYSE:PSN) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.07. The company had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Parsons had a return on equity of 12.88% and a net margin of 1.21%. As a group, research analysts anticipate that Parsons Co. will post 2.89 earnings per share for the current year.

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.