Congress Asset Management Co. Invests $8.36 Million in Parsons Co. (NYSE:PSN)

Congress Asset Management Co. purchased a new stake in Parsons Co. (NYSE:PSN - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 90,629 shares of the company's stock, valued at approximately $8,361,000. Congress Asset Management Co. owned about 0.09% of Parsons as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. State of New Jersey Common Pension Fund D bought a new position in shares of Parsons during the 3rd quarter valued at approximately $2,172,000. Oppenheimer & Co. Inc. boosted its stake in Parsons by 37.7% during the third quarter. Oppenheimer & Co. Inc. now owns 24,016 shares of the company's stock worth $2,490,000 after buying an additional 6,577 shares during the period. Aigen Investment Management LP bought a new position in Parsons during the third quarter valued at $1,004,000. Geode Capital Management LLC raised its stake in shares of Parsons by 14.0% in the third quarter. Geode Capital Management LLC now owns 772,808 shares of the company's stock valued at $80,146,000 after acquiring an additional 95,040 shares during the period. Finally, Empowered Funds LLC bought a new stake in shares of Parsons in the 4th quarter worth about $1,449,000. 98.02% of the stock is owned by institutional investors.

Parsons Stock Down 5.0 %

NYSE:PSN traded down $3.26 during mid-day trading on Thursday, reaching $61.82. The company's stock had a trading volume of 4,644,560 shares, compared to its average volume of 1,551,698. 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 firm has a market capitalization of $6.57 billion, a PE ratio of 93.67, a price-to-earnings-growth ratio of 1.11 and a beta of 0.73. The stock has a fifty day moving average of $87.36 and a 200-day moving average of $95.64. Parsons Co. has a 1 year low of $59.90 and a 1 year high of $114.68.

Analysts Set New Price Targets

PSN has been the topic of several analyst reports. Raymond James downgraded shares of Parsons from an "outperform" rating to a "market perform" rating in a report on Thursday, January 2nd. Jefferies Financial Group reduced their price target on Parsons from $110.00 to $100.00 and set a "buy" rating on the stock in a report on Friday, January 24th. TD Cowen dropped their price objective on Parsons from $117.00 to $105.00 and set a "buy" rating for the company in a report on Wednesday, January 8th. William Blair upgraded Parsons from a "market perform" rating to an "outperform" rating in a research note on Tuesday. Finally, KeyCorp decreased their target price on Parsons from $122.00 to $102.00 and set an "overweight" rating for the company in a research report on Wednesday, January 8th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $102.11.

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.