Parsons (NYSE:PSN) Sees Unusually-High Trading Volume – Here’s Why

Parsons Co. (NYSE:PSN) saw an uptick in trading volume on Thursday . 773,264 shares traded hands during trading, a decline of 5% from the previous session’s volume of 815,178 shares.The stock last traded at $86.51 and had previously closed at $94.86.

Analysts Set New Price Targets

PSN has been the subject of a number of research reports. The Goldman Sachs Group raised shares of Parsons from a “neutral” rating to a “buy” rating and upped their target price for the company from $103.00 to $111.00 in a report on Thursday, December 12th. Robert W. Baird increased their price objective on Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Truist Financial dropped 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. William Blair downgraded Parsons from an “outperform” rating to a “market perform” rating in a report on Thursday. Finally, Raymond James cut shares of Parsons from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Parsons presently has a consensus rating of “Moderate Buy” and an average price target of $108.25.

Parsons Trading Down 8.6 %

The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.47. The business’s fifty day moving average is $95.10 and its 200 day moving average is $95.99. The stock has a market cap of $9.20 billion, a PE ratio of 131.28, a P/E/G ratio of 1.44 and a beta of 0.74.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. ORG Wealth Partners LLC purchased a new position in Parsons during the 4th quarter valued at about $26,000. True Wealth Design LLC acquired a new stake in shares of Parsons during the third quarter valued at $30,000. GAMMA Investing LLC increased its position in Parsons by 224.7% during 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. V Square Quantitative Management LLC acquired a new position in Parsons in the 3rd quarter valued at about $33,000. Finally, R Squared Ltd purchased a new position in Parsons in the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 98.02% of the company’s stock.

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.