Pacer Advisors Inc. Has $1.46 Million Stake in Parsons Co. (NYSE:PSN)

Pacer Advisors Inc. lifted its position in shares of Parsons Co. (NYSE:PSN - Free Report) by 131.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,818 shares of the company's stock after acquiring an additional 8,989 shares during the quarter. Pacer Advisors Inc.'s holdings in Parsons were worth $1,459,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fisher Asset Management LLC boosted its position in Parsons by 2.1% during the third quarter. Fisher Asset Management LLC now owns 4,364 shares of the company's stock worth $452,000 after purchasing an additional 90 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of Parsons by 3.2% during the third quarter. CIBC Asset Management Inc now owns 3,124 shares of the company's stock valued at $324,000 after acquiring an additional 96 shares during the last quarter. Chartwell Investment Partners LLC lifted its stake in shares of Parsons by 0.8% during the third quarter. Chartwell Investment Partners LLC now owns 14,536 shares of the company's stock valued at $1,507,000 after buying an additional 117 shares during the period. GAMMA Investing LLC lifted its stake in shares of Parsons by 224.7% during the 4th quarter. GAMMA Investing LLC now owns 315 shares of the company's stock worth $29,000 after purchasing an additional 218 shares during the period. Finally, Assetmark Inc. grew its position in shares of Parsons by 10.7% in the third quarter. Assetmark Inc. now owns 2,750 shares of the company's stock valued at $285,000 after purchasing an additional 265 shares during the period. Institutional investors and hedge funds own 98.02% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PSN. Raymond James downgraded Parsons from an "outperform" rating to a "market perform" rating in a report on Thursday, January 2nd. William Blair cut shares of Parsons from an "outperform" rating to a "market perform" rating in a research report on Thursday, January 23rd. Truist Financial reduced their target price on Parsons from $130.00 to $110.00 and set a "buy" rating on the stock in a report on Friday, November 22nd. TD Cowen reduced their price objective on Parsons from $117.00 to $105.00 and set a "buy" rating on the stock in a research note on Wednesday, January 8th. Finally, Robert W. Baird boosted their target price on shares of Parsons from $103.00 to $125.00 and gave the company an "outperform" rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, Parsons currently has an average rating of "Moderate Buy" and an average target price of $107.33.

Parsons Stock Performance

Shares of NYSE:PSN traded down $0.71 on Wednesday, hitting $77.43. 1,145,263 shares of the company were exchanged, compared to its average volume of 1,377,829. Parsons Co. has a one year low of $64.90 and a one year high of $114.68. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 1.55. The company's 50 day moving average price is $92.18 and its two-hundred day moving average price is $96.26. The firm has a market capitalization of $8.22 billion, a price-to-earnings ratio of 117.32, a PEG ratio of 1.19 and a beta of 0.73.

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.