Roanoke Asset Management Corp NY Purchases 200 Shares of Parsons Corporation (NYSE:PSN)

Roanoke Asset Management Corp NY grew its position in Parsons Corporation (NYSE:PSN) by 0.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 38,935 shares of the company’s stock after acquiring an additional 200 shares during the period. Roanoke Asset Management Corp NY’s holdings in Parsons were worth $2,305,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of PSN. Versant Capital Management Inc bought a new position in shares of Parsons in the 1st quarter valued at $27,000. Quarry LP bought a new position in shares of Parsons in the 4th quarter valued at $30,000. UMB Bank n.a. lifted its stake in shares of Parsons by 238.7% in the 1st quarter. UMB Bank n.a. now owns 552 shares of the company’s stock valued at $33,000 after acquiring an additional 389 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of Parsons by 1,803.4% in the 1st quarter. Fifth Third Bancorp now owns 552 shares of the company’s stock valued at $33,000 after acquiring an additional 523 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in shares of Parsons by 63.1% in the 1st quarter. Signaturefd LLC now owns 610 shares of the company’s stock valued at $36,000 after acquiring an additional 236 shares during the last quarter. 98.02% of the stock is currently owned by institutional investors.

Parsons Stock Performance

PSN stock opened at $79.54 on Friday. The stock has a 50-day moving average price of $73.74 and a 200-day moving average price of $68.05. Parsons Corporation has a 1-year low of $54.56 and a 1-year high of $114.68. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.47. The firm has a market cap of $8.49 billion, a PE ratio of 35.51, a price-to-earnings-growth ratio of 4.20 and a beta of 0.58.

Parsons (NYSE:PSN) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.04. Parsons had a return on equity of 12.36% and a net margin of 3.70%. The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same period last year, the company posted $0.84 EPS. The business’s quarterly revenue was down 5.1% on a year-over-year basis. As a group, equities research analysts expect that Parsons Corporation will post 3.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PSN shares. Jefferies Financial Group increased their price objective on Parsons from $70.00 to $80.00 and gave the company a “hold” rating in a report on Wednesday, July 2nd. Stifel Nicolaus started coverage on Parsons in a report on Tuesday, June 24th. They issued a “buy” rating and a $81.00 price objective for the company. Truist Financial increased their price objective on Parsons from $80.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, July 24th. The Goldman Sachs Group decreased their price objective on Parsons from $90.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, June 4th. Finally, Baird R W upgraded Parsons from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $88.70.

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.