Synergy Asset Management LLC Makes New Investment in Parsons Co. (NYSE:PSN)

Synergy Asset Management LLC acquired a new stake in Parsons Co. (NYSE:PSN) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 138,657 shares of the company’s stock, valued at approximately $12,550,000. Parsons accounts for approximately 1.0% of Synergy Asset Management LLC’s portfolio, making the stock its 23rd biggest holding.

Other hedge funds have also modified their holdings of the company. State of New Jersey Common Pension Fund D purchased a new position in Parsons in the 3rd quarter valued at $2,172,000. Oppenheimer & Co. Inc. boosted its holdings in shares of Parsons by 37.7% in the third quarter. Oppenheimer & Co. Inc. now owns 24,016 shares of the company’s stock valued at $2,490,000 after acquiring an additional 6,577 shares in the last quarter. Aigen Investment Management LP acquired a new position in shares of Parsons during the third quarter worth about $1,004,000. Geode Capital Management LLC raised its holdings in Parsons by 14.0% during the third quarter. Geode Capital Management LLC now owns 772,808 shares of the company’s stock worth $80,146,000 after purchasing an additional 95,040 shares in the last quarter. Finally, State Street Corp lifted its position in Parsons by 60.6% in the third quarter. State Street Corp now owns 1,634,155 shares of the company’s stock valued at $169,429,000 after purchasing an additional 616,707 shares during the period. 98.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on PSN. Truist Financial reduced their target price on Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a report on Friday, November 22nd. TD Cowen decreased their price objective on shares of Parsons from $117.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. The Goldman Sachs Group upgraded shares of Parsons from a “neutral” rating to a “buy” rating and lifted their price target for the company from $103.00 to $111.00 in a research report on Thursday, December 12th. Jefferies Financial Group reduced their price objective on Parsons from $110.00 to $100.00 and set a “buy” rating for the company in a report on Friday, January 24th. Finally, Raymond James lowered Parsons from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Parsons currently has a consensus rating of “Moderate Buy” and an average target price of $107.33.

Parsons Trading Up 0.1 %

Shares of PSN stock opened at $80.11 on Thursday. The company has a market capitalization of $8.51 billion, a price-to-earnings ratio of 121.38, a PEG ratio of 1.42 and a beta of 0.74. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47. The firm has a 50-day moving average price of $94.04 and a 200 day moving average price of $96.23. Parsons Co. has a twelve month low of $64.33 and a twelve month high of $114.68.

Parsons (NYSE:PSN) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.07. Parsons had a net margin of 1.21% and a return on equity of 12.74%. The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.63 billion. Research analysts forecast that Parsons Co. will post 3.02 earnings per share for the current fiscal year.

About Parsons

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.