29,906 Shares in Parsons Co. (NYSE:PSN) Bought by Independent Advisor Alliance

Independent Advisor Alliance acquired a new stake in shares of Parsons Co. (NYSE:PSN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 29,906 shares of the company's stock, valued at approximately $2,759,000.

A number of other hedge funds also recently bought and sold shares of PSN. Raymond James Financial Inc. purchased a new stake in shares of Parsons in the fourth quarter valued at approximately $63,417,000. State Street Corp grew 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 in the last quarter. Principal Financial Group Inc. increased its stake in shares of Parsons by 18.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,192,943 shares of the company's stock worth $123,685,000 after acquiring an additional 183,117 shares during the last quarter. FMR LLC raised its holdings in shares of Parsons by 391.4% during the 3rd quarter. FMR LLC now owns 195,850 shares of the company's stock worth $20,306,000 after acquiring an additional 155,991 shares during the period. Finally, Van ECK Associates Corp boosted its position in shares of Parsons by 39.1% during the 4th quarter. Van ECK Associates Corp now owns 502,178 shares of the company's stock valued at $46,326,000 after acquiring an additional 141,282 shares during the last quarter. Institutional investors and hedge funds own 98.02% of the company's stock.

Parsons Stock Up 2.9 %

Parsons stock traded up $1.64 during mid-day trading on Friday, reaching $58.29. 1,541,866 shares of the company's stock were exchanged, compared to its average volume of 1,011,328. Parsons Co. has a twelve month low of $54.56 and a twelve month high of $114.68. The company has a fifty day moving average of $75.21 and a 200-day moving average of $91.55. The company has a quick ratio of 1.55, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. The company has a market cap of $6.22 billion, a P/E ratio of 76.70, a P/E/G ratio of 0.93 and a beta of 0.78.

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Analysts Set New Price Targets

A number of brokerages have commented on PSN. TD Cowen downgraded shares of Parsons from a "buy" rating to a "hold" rating and set a $105.00 target price on the stock. in a research note on Friday, February 21st. 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 raised Parsons from a "market perform" rating to an "outperform" rating in a research note on Tuesday, February 18th. Jefferies Financial Group decreased their price target on Parsons from $110.00 to $100.00 and set a "buy" rating on the stock in a research note on Friday, January 24th. Finally, The Goldman Sachs Group lowered their price target on Parsons from $109.00 to $98.00 and set a "buy" rating for the company in a report on Tuesday, February 25th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock 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.