AlphaMark Advisors LLC Makes New Investment in Parsons Co. (NYSE:PSN)

AlphaMark Advisors LLC purchased a new stake in Parsons Co. (NYSE:PSN) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 4,855 shares of the company’s stock, valued at approximately $403,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Seaside Wealth Management Inc. acquired a new position in shares of Parsons during the 1st quarter worth approximately $1,240,000. Hennessy Advisors Inc. increased its position in Parsons by 14.1% during the first quarter. Hennessy Advisors Inc. now owns 437,900 shares of the company’s stock worth $36,324,000 after purchasing an additional 54,200 shares during the last quarter. Sunburst Financial Group LLC purchased a new position in Parsons during the first quarter worth approximately $499,000. Salem Investment Counselors Inc. grew its stake in shares of Parsons by 339.2% during the 1st quarter. Salem Investment Counselors Inc. now owns 2,376 shares of the company’s stock valued at $197,000 after buying an additional 1,835 shares during the period. Finally, Kapitalo Investimentos Ltda increased its holdings in shares of Parsons by 246.6% during the 4th quarter. Kapitalo Investimentos Ltda now owns 8,211 shares of the company’s stock worth $515,000 after buying an additional 5,842 shares during the last quarter. Institutional investors and hedge funds own 98.02% of the company’s stock.

Parsons Price Performance

Shares of PSN stock traded down $1.61 during mid-day trading on Monday, reaching $80.20. The company’s stock had a trading volume of 731,263 shares, compared to its average volume of 888,772. The firm’s 50-day moving average is $77.73 and its two-hundred day moving average is $74.64. The company has a market cap of $11.77 billion, a P/E ratio of 445.56, a PEG ratio of 2.40 and a beta of 0.84. Parsons Co. has a 1-year low of $46.85 and a 1-year high of $85.44. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 1.79.

Parsons (NYSE:PSN) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.04. Parsons had a net margin of 0.49% and a return on equity of 11.27%. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.37 billion. On average, research analysts predict that Parsons Co. will post 2.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PSN. Stifel Nicolaus lifted their price objective on shares of Parsons from $95.00 to $97.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. TD Cowen upgraded shares of Parsons from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $77.00 to $90.00 in a report on Friday, May 3rd. Raymond James upgraded Parsons from an “outperform” rating to a “strong-buy” rating and raised their target price for the company from $82.00 to $95.00 in a research note on Wednesday, May 1st. KeyCorp boosted their price target on Parsons from $89.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Finally, Truist Financial increased their price target on Parsons from $84.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Parsons has a consensus rating of “Buy” and an average target price of $85.50.

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.