Parsons Corporation $PSN Stock Position Boosted by Prescott Group Capital Management L.L.C.

Prescott Group Capital Management L.L.C. grew its position in shares of Parsons Corporation (NYSE:PSN) by 203.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 134,189 shares of the company’s stock after acquiring an additional 90,000 shares during the period. Prescott Group Capital Management L.L.C.’s holdings in Parsons were worth $5,498,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PSN. Versant Capital Management Inc lifted its position in Parsons by 183.6% in the 2nd quarter. Versant Capital Management Inc now owns 553 shares of the company’s stock worth $29,000 after buying an additional 358 shares during the last quarter. Reyes Financial Architecture Inc. purchased a new stake in Parsons in the third quarter worth approximately $31,000. GAMMA Investing LLC boosted its stake in Parsons by 160.0% in the second quarter. GAMMA Investing LLC now owns 949 shares of the company’s stock worth $50,000 after buying an additional 584 shares in the last quarter. Danske Bank A S bought a new position in Parsons during the second quarter valued at approximately $58,000. Finally, Continuum Advisory LLC bought a new position in Parsons during the second quarter valued at approximately $59,000. 98.02% of the stock is owned by hedge funds and other institutional investors.

Parsons Stock Performance

Shares of NYSE PSN opened at $51.70 on Wednesday. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $5.46 billion, a price-to-earnings ratio of 37.73, a price-to-earnings-growth ratio of 4.46 and a beta of 0.69. Parsons Corporation has a 12-month low of $36.26 and a 12-month high of $88.00. The firm has a 50 day moving average of $45.82 and a 200 day moving average of $53.98.

Parsons (NYSE:PSN) last announced its earnings results on Wednesday, October 28th. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.09. Parsons had a return on equity of 8.11% and a net margin of 2.33%. The company had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.62 billion. During the same period last year, the firm earned $0.86 EPS. Parsons’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, research analysts anticipate that Parsons Corporation will post 2.06 earnings per share for the current year.

Insiders Place Their Bets

In other Parsons news, Director George Ball purchased 20,000 shares of the business’s stock in a transaction on Friday, August 7th. The stock was acquired at an average price of $47.97 per share, for a total transaction of $959,400.00. Following the purchase, the director owned 170,383 shares of the company’s stock, valued at approximately $8,173,272.51. This represents a 13.30% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.31% of the company’s stock.

Wall Street Analyst Weigh In

PSN has been the topic of several research reports. Citigroup decreased their price target on shares of Parsons from $66.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. UBS Group upped their price objective on shares of Parsons from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, October 29th. Robert W. Baird raised shares of Parsons from a “neutral” rating to an “outperform” rating and increased their target price for the company from $48.00 to $57.00 in a report on Friday, August 21st. Barclays decreased their target price on shares of Parsons from $70.00 to $60.00 and set an “overweight” rating on the stock in a research report on Thursday, July 30th. Finally, TD Cowen lowered their price target on shares of Parsons from $72.00 to $62.00 and set a “buy” rating for the company in a research note on Tuesday, October 6th. Eleven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $63.50.

Parsons Company Profile

Parsons Corporation (NYSE: PSN) is a technology-driven solutions provider serving government and commercial customers in the defense, intelligence, critical infrastructure and transportation markets. The company develops and integrates solutions for complex security, engineering and infrastructure challenges, combining software, systems engineering, cybersecurity, data analytics and program management capabilities.

Parsons operates through its Federal Solutions and Critical Infrastructure segments.