Raymond James Financial Inc. Purchases Shares of 687,446 Parsons Co. (NYSE:PSN)

Raymond James Financial Inc. purchased a new stake in Parsons Co. (NYSE:PSN - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 687,446 shares of the company's stock, valued at approximately $63,417,000. Raymond James Financial Inc. owned about 0.65% of Parsons at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. ORG Wealth Partners LLC purchased a new stake in Parsons in the 4th quarter valued at $26,000. True Wealth Design LLC purchased a new stake in shares of Parsons in the third quarter valued at about $30,000. GAMMA Investing LLC boosted its stake 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 buying an additional 218 shares during the period. Principal Securities Inc. purchased a new position in shares of Parsons during the fourth quarter worth about $33,000. Finally, R Squared Ltd acquired a new position in shares of Parsons in the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 98.02% of the company's stock.

Parsons Trading Down 1.4 %

Shares of NYSE:PSN traded down $0.83 during trading on Thursday, reaching $56.58. The stock had a trading volume of 1,494,831 shares, compared to its average volume of 1,627,496. 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 stock has a market cap of $6.04 billion, a P/E ratio of 74.45, a PEG ratio of 0.93 and a beta of 0.78. The business has a fifty day moving average price of $75.89 and a 200-day moving average price of $91.83. Parsons Co. has a fifty-two week low of $54.56 and a fifty-two week high of $114.68.

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Analyst Upgrades and Downgrades

Several research analysts recently issued reports on PSN shares. The Goldman Sachs Group cut their price target on shares of Parsons from $109.00 to $98.00 and set a "buy" rating for the company in a report on Tuesday, February 25th. KeyCorp lowered their target price on shares of Parsons from $122.00 to $102.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. 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. Truist Financial reduced their price objective on Parsons from $130.00 to $110.00 and set a "buy" rating for the company in a report on Friday, November 22nd. Finally, Robert W. Baird lowered their target price on Parsons from $125.00 to $78.00 and set an "outperform" rating on the stock in a report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Parsons presently has an average rating of "Moderate Buy" and a consensus target price 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.