Parsons Co. (NYSE:PSN) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lessened its holdings in Parsons Co. (NYSE:PSN - Free Report) by 31.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,492 shares of the company's stock after selling 7,524 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Parsons were worth $1,521,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PSN. State Street Corp raised its holdings in shares of Parsons by 60.6% during the third quarter. State Street Corp now owns 1,634,155 shares of the company's stock worth $169,429,000 after purchasing an additional 616,707 shares during the last quarter. Principal Financial Group Inc. grew its position in Parsons by 18.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,192,943 shares of the company's stock worth $123,685,000 after purchasing an additional 183,117 shares during the period. Geode Capital Management LLC raised its stake in shares of Parsons by 14.0% during the 3rd quarter. Geode Capital Management LLC now owns 772,808 shares of the company's stock valued at $80,146,000 after buying an additional 95,040 shares during the last quarter. Wedge Capital Management L L P NC lifted its holdings in shares of Parsons by 12.8% in the 4th quarter. Wedge Capital Management L L P NC now owns 680,311 shares of the company's stock valued at $62,759,000 after buying an additional 77,358 shares during the period. Finally, Franklin Resources Inc. boosted its stake in shares of Parsons by 11.8% in the third quarter. Franklin Resources Inc. now owns 601,071 shares of the company's stock worth $64,813,000 after buying an additional 63,657 shares during the last quarter. 98.02% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Jefferies Financial Group decreased 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. Robert W. Baird decreased their target price on shares of Parsons from $125.00 to $78.00 and set an "outperform" rating for the company in a research note on Thursday, February 20th. Raymond James lowered Parsons from an "outperform" rating to a "market perform" rating in a research note on Thursday, January 2nd. The Goldman Sachs Group decreased their target price on Parsons from $109.00 to $98.00 and set a "buy" rating on the stock in a research report on Tuesday, February 25th. Finally, William Blair raised shares of Parsons from a "market perform" rating to an "outperform" rating in a research note on Tuesday, February 18th. Two equities research 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 presently has a consensus rating of "Moderate Buy" and a consensus target price of $99.44.

Parsons Trading Up 5.1 %

Parsons stock traded up $2.92 during midday trading on Friday, reaching $60.34. 2,161,565 shares of the stock traded hands, compared to its average volume of 1,638,285. 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 cap of $6.44 billion, a PE ratio of 79.39, a price-to-earnings-growth ratio of 0.93 and a beta of 0.78. The company has a 50-day simple moving average of $79.30 and a two-hundred day simple moving average of $93.10. Parsons Co. has a 12-month low of $54.56 and a 12-month high of $114.68.

Parsons Profile

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.