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

Zurcher Kantonalbank Zurich Cantonalbank trimmed its position in Parsons Co. (NYSE:PSN) by 10.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,826 shares of the company’s stock after selling 2,901 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Parsons were worth $1,620,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. DekaBank Deutsche Girozentrale purchased a new position in shares of Parsons in the third quarter worth approximately $38,000. Covestor Ltd boosted its stake in shares of Parsons by 126.0% during the 3rd quarter. Covestor Ltd now owns 1,521 shares of the company’s stock worth $83,000 after acquiring an additional 848 shares during the last quarter. Legacy Wealth Asset Management LLC bought a new stake in shares of Parsons during the 3rd quarter valued at $204,000. Blackston Financial Advisory Group LLC bought a new stake in shares of Parsons during the 4th quarter valued at $205,000. Finally, Ingalls & Snyder LLC purchased a new stake in shares of Parsons in the 4th quarter worth $210,000. 98.02% of the stock is currently owned by institutional investors.

Parsons Price Performance

Shares of NYSE:PSN opened at $78.90 on Thursday. The firm has a market cap of $8.35 billion, a price-to-earnings ratio of 55.56, a P/E/G ratio of 3.52 and a beta of 0.85. The firm has a fifty day moving average price of $80.56 and a 200 day moving average price of $68.85. Parsons Co. has a fifty-two week low of $42.22 and a fifty-two week high of $85.44. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.52 and a current ratio of 1.51.

Parsons (NYSE:PSN) last released its quarterly earnings data on Wednesday, February 14th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.56 by $0.13. Parsons had a net margin of 2.96% and a return on equity of 10.32%. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the firm earned $0.45 EPS. The business’s revenue was up 36.4% on a year-over-year basis. As a group, sell-side analysts expect that Parsons Co. will post 2.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PSN. Truist Financial boosted their price target on Parsons from $84.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. KeyCorp increased their target price on shares of Parsons from $89.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. The Goldman Sachs Group raised their target price on shares of Parsons from $73.00 to $81.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Robert W. Baird upped their price target on shares of Parsons from $75.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. Finally, Benchmark restated a “buy” rating and set a $68.00 price objective on shares of Parsons in a research report on Thursday, April 4th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Parsons presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.00.

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.