Procyon Advisors LLC Has $285,000 Stake in Parsons Co. (NYSE:PSN)

Procyon Advisors LLC reduced its stake in Parsons Co. (NYSE:PSN) by 17.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,752 shares of the company’s stock after selling 579 shares during the quarter. Procyon Advisors LLC’s holdings in Parsons were worth $285,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Tanglewood Legacy Advisors LLC bought a new stake in shares of Parsons during the 2nd quarter worth $44,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Parsons during the first quarter valued at about $62,000. Blue Trust Inc. grew its position in shares of Parsons by 23.6% in the second quarter. Blue Trust Inc. now owns 1,041 shares of the company’s stock valued at $86,000 after purchasing an additional 199 shares during the last quarter. EntryPoint Capital LLC increased its stake in shares of Parsons by 17.2% in the first quarter. EntryPoint Capital LLC now owns 1,334 shares of the company’s stock worth $111,000 after purchasing an additional 196 shares during the period. Finally, Covestor Ltd lifted its position in shares of Parsons by 109.9% during the 1st quarter. Covestor Ltd now owns 1,604 shares of the company’s stock worth $133,000 after purchasing an additional 840 shares during the last quarter. Institutional investors own 98.02% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on PSN. Stifel Nicolaus lifted their price target on Parsons from $95.00 to $97.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Truist Financial reaffirmed a “buy” rating and set a $108.00 target price (up previously from $100.00) on shares of Parsons in a research report on Thursday, August 1st. KeyCorp upped their target price on shares of Parsons from $99.00 to $116.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Benchmark raised their price target on shares of Parsons from $68.00 to $101.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Robert W. Baird upped their price objective on shares of Parsons from $89.00 to $103.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Parsons has a consensus rating of “Buy” and a consensus target price of $96.78.

Parsons Price Performance

NYSE:PSN opened at $108.15 on Thursday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.80 and a current ratio of 1.80. The company has a 50-day moving average of $98.67 and a 200-day moving average of $85.98. Parsons Co. has a 52 week low of $55.22 and a 52 week high of $109.55. The company has a market capitalization of $15.87 billion, a price-to-earnings ratio of 600.83, a PEG ratio of 2.31 and a beta of 0.80.

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