Parsons (NYSE:PSN) Upgraded at William Blair

William Blair upgraded shares of Parsons (NYSE:PSN) from a market perform rating to an outperform rating in a research report released on Tuesday morning, MarketBeat Ratings reports.

Several other research analysts have also recently weighed in on the company. Truist Financial reduced their price target on Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Jefferies Financial Group reduced their price target on Parsons from $110.00 to $100.00 and set a “buy” rating for the company in a report on Friday, January 24th. KeyCorp cut their price target on shares of Parsons from $122.00 to $102.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. TD Cowen cut their target price on shares of Parsons from $117.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Finally, The Goldman Sachs Group raised Parsons from a “neutral” rating to a “buy” rating and increased their price objective for the company from $103.00 to $111.00 in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $102.11.

Parsons Price Performance

NYSE:PSN opened at $61.82 on Tuesday. The firm’s fifty day moving average is $87.36 and its two-hundred day moving average is $95.64. The firm has a market cap of $6.57 billion, a price-to-earnings ratio of 93.67, a PEG ratio of 1.11 and a beta of 0.73. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 1.55. Parsons has a one year low of $59.90 and a one year high of $114.68.

Institutional Trading of Parsons

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Parsons by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 4,575,535 shares of the company’s stock valued at $422,093,000 after acquiring an additional 59,545 shares during the last quarter. Artisan Partners Limited Partnership grew its holdings in shares of Parsons by 271.6% during the 4th quarter. Artisan Partners Limited Partnership now owns 2,069,724 shares of the company’s stock worth $190,932,000 after purchasing an additional 1,512,812 shares during the period. Invesco Ltd. increased its position in shares of Parsons by 14.2% during the 4th quarter. Invesco Ltd. now owns 2,056,390 shares of the company’s stock worth $189,702,000 after purchasing an additional 255,810 shares during the last quarter. State Street Corp raised its holdings in Parsons by 60.6% in the 3rd quarter. State Street Corp now owns 1,634,155 shares of the company’s stock valued at $169,429,000 after buying an additional 616,707 shares during the period. Finally, Principal Financial Group Inc. lifted its position in Parsons by 18.1% in the third quarter. Principal Financial Group Inc. now owns 1,192,943 shares of the company’s stock valued at $123,685,000 after buying an additional 183,117 shares during the last quarter. Hedge funds and other institutional investors 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.