abrdn plc Has $1.27 Million Stake in Parsons Co. (NYSE:PSN)

abrdn plc reduced its position in shares of Parsons Co. (NYSE:PSN - Free Report) by 95.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,669 shares of the company's stock after selling 311,992 shares during the period. abrdn plc's holdings in Parsons were worth $1,267,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of PSN. ORG Wealth Partners LLC acquired a new position in Parsons during the fourth quarter worth about $26,000. GAMMA Investing LLC increased 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 position in Parsons in the 3rd quarter worth about $30,000. V Square Quantitative Management LLC purchased a new position in Parsons in the 3rd quarter worth about $33,000. Finally, R Squared Ltd purchased a new position in Parsons in the 4th quarter worth about $38,000. 98.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PSN shares. The Goldman Sachs Group raised Parsons from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $103.00 to $111.00 in a research note on Thursday, December 12th. KeyCorp dropped their price target on Parsons from $122.00 to $102.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. Truist Financial dropped their price target on Parsons from $130.00 to $110.00 and set a "buy" rating on the stock in a research note on Friday, November 22nd. William Blair cut Parsons from an "outperform" rating to a "market perform" rating in a research note on Thursday, January 23rd. Finally, Robert W. Baird lifted their target price on Parsons from $103.00 to $125.00 and gave the company an "outperform" rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $107.33.

Parsons Stock Down 0.0 %

NYSE:PSN traded down $0.04 on Friday, hitting $73.37. 1,401,858 shares of the company's stock traded hands, compared to its average volume of 1,322,875. The company has a market cap of $7.79 billion, a PE ratio of 111.16, a price-to-earnings-growth ratio of 1.17 and a beta of 0.73. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47. Parsons Co. has a 1 year low of $72.12 and a 1 year high of $114.68. The firm has a 50-day moving average price of $89.37 and a 200-day moving average price of $95.94.

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.