Connor Clark & Lunn Investment Management Ltd. Invests $7.17 Million in Parsons Co. (NYSE:PSN)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Parsons Co. (NYSE:PSN - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 77,736 shares of the company's stock, valued at approximately $7,171,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.07% of Parsons at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. ORG Wealth Partners LLC purchased a new position in shares of Parsons in the fourth quarter valued at approximately $26,000. GAMMA Investing LLC increased its position in shares of Parsons by 224.7% during the fourth 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 acquired a new position in Parsons in the 3rd quarter valued at $30,000. Principal Securities Inc. purchased a new position in Parsons in the 4th quarter valued at $33,000. Finally, R Squared Ltd acquired a new stake in Parsons during the 4th quarter worth $38,000. 98.02% of the stock is currently owned by institutional investors and hedge funds.

Parsons Trading Up 1.2 %

Parsons stock traded up $0.74 during mid-day trading on Wednesday, hitting $60.82. The company's stock had a trading volume of 1,346,938 shares, compared to its average volume of 1,597,330. The stock's fifty day moving average is $73.95 and its two-hundred day moving average is $91.04. The company has a current ratio of 1.29, a quick ratio of 1.55 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $6.49 billion, a PE ratio of 80.02, a price-to-earnings-growth ratio of 0.93 and a beta of 0.78. Parsons Co. has a 1 year low of $54.56 and a 1 year high of $114.68.

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Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. The Goldman Sachs Group reduced their target price on shares of Parsons from $109.00 to $98.00 and set a "buy" rating for the company in a research report on Tuesday, February 25th. Benchmark reiterated a "buy" rating and issued a $90.00 price objective on shares of Parsons in a report on Wednesday, February 26th. William Blair upgraded Parsons from a "market perform" rating to an "outperform" rating in a report on Tuesday, February 18th. Truist Financial dropped 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. Finally, Jefferies Financial Group reduced their price objective on Parsons from $110.00 to $100.00 and set a "buy" rating on the stock in a research report on Friday, January 24th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Parsons presently has an average rating of "Moderate Buy" and an average price target of $99.44.

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.