5,103 Shares in Parsons Co. (NYSE:PSN) Purchased by Alliance Wealth Advisors LLC UT

Alliance Wealth Advisors LLC UT purchased a new position in Parsons Co. (NYSE:PSN) during the fourth quarter, HoldingsChannel reports. The fund purchased 5,103 shares of the company’s stock, valued at approximately $471,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. ORG Wealth Partners LLC purchased a new position in shares of Parsons in the fourth quarter worth $26,000. GAMMA Investing LLC lifted its stake in Parsons by 224.7% in the 4th quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock worth $29,000 after purchasing an additional 218 shares in the last quarter. True Wealth Design LLC purchased a new stake in Parsons in the 3rd quarter worth $30,000. V Square Quantitative Management LLC purchased a new position in shares of Parsons during the third quarter valued at about $33,000. Finally, R Squared Ltd bought a new stake in shares of Parsons in the fourth quarter worth about $38,000. 98.02% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on PSN shares. Jefferies Financial Group dropped their price target on Parsons from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Raymond James lowered shares of Parsons from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Truist Financial decreased their price target on shares of Parsons from $130.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Robert W. Baird lifted their price objective on shares of Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, KeyCorp reduced their target price on shares of Parsons from $122.00 to $102.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Parsons currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.33.

Parsons Price Performance

Parsons stock opened at $78.18 on Wednesday. Parsons Co. has a 12-month low of $64.33 and a 12-month high of $114.68. 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 $92.54 and a 200-day moving average price of $96.26. The firm has a market capitalization of $8.30 billion, a PE ratio of 118.46, a price-to-earnings-growth ratio of 1.19 and a beta of 0.73.

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.