Zurcher Kantonalbank Zurich Cantonalbank Trims Position in Parsons Co. (NYSE:PSN)

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in shares of Parsons Co. (NYSE:PSN) by 1.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,653 shares of the company’s stock after selling 253 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Parsons were worth $2,349,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PSN. V Square Quantitative Management LLC purchased a new position in shares of Parsons in the 3rd quarter valued at approximately $33,000. Capital Performance Advisors LLP purchased a new position in Parsons during the 3rd quarter worth $45,000. Tanglewood Legacy Advisors LLC purchased a new position in Parsons during the 2nd quarter worth $44,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Parsons in the 3rd quarter worth $72,000. Finally, Blue Trust Inc. increased its stake in shares of Parsons by 23.6% during the second quarter. Blue Trust Inc. now owns 1,041 shares of the company’s stock worth $86,000 after acquiring an additional 199 shares during the period. Institutional investors and hedge funds own 98.02% of the company’s stock.

Parsons Stock Down 1.3 %

Parsons stock opened at $94.75 on Wednesday. Parsons Co. has a fifty-two week low of $61.10 and a fifty-two week high of $114.68. The firm has a market capitalization of $10.06 billion, a price-to-earnings ratio of 143.56, a price-to-earnings-growth ratio of 1.71 and a beta of 0.74. The stock’s fifty day moving average is $104.38 and its two-hundred day moving average is $91.88. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 1.55.

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

Wall Street Analysts Forecast Growth

PSN has been the topic of a number of analyst reports. Truist Financial lowered their price objective on Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Robert W. Baird lifted their price target on Parsons from $103.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. KeyCorp increased their price objective on Parsons from $116.00 to $122.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, Raymond James downgraded Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 target price for the company. in a report on Wednesday, October 23rd. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $105.13.

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.