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

Zurcher Kantonalbank Zurich Cantonalbank reduced its position in Parsons Co. (NYSE:PSN) by 1.1% in the 3rd quarter, Holdings Channel reports. The fund owned 22,653 shares of the company’s stock after selling 253 shares during the period. 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 also recently bought and sold shares of PSN. V Square Quantitative Management LLC purchased a new stake in shares of Parsons in the third quarter valued at $33,000. Tanglewood Legacy Advisors LLC purchased a new position in Parsons during the second quarter worth about $44,000. Capital Performance Advisors LLP acquired a new stake in Parsons in the 3rd quarter worth about $45,000. DekaBank Deutsche Girozentrale purchased a new stake in Parsons in the 3rd quarter valued at about $72,000. Finally, Blue Trust Inc. lifted its holdings in shares of Parsons by 23.6% during the 2nd 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. 98.02% of the stock is currently owned by institutional investors and hedge funds.

Parsons Trading Down 1.3 %

NYSE:PSN opened at $94.75 on Wednesday. The business’s 50-day moving average is $104.38 and its two-hundred day moving average is $91.88. The firm has a market capitalization of $10.06 billion, a PE ratio of 143.56, a price-to-earnings-growth ratio of 1.71 and a beta of 0.74. Parsons Co. has a 12 month low of $61.10 and a 12 month high of $114.68. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.55 and a quick ratio of 1.55.

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

Analyst Ratings Changes

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

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.