William Blair Investment Management LLC Sells 208,378 Shares of Parsons Co. (NYSE:PSN)

William Blair Investment Management LLC lessened its stake in shares of Parsons Co. (NYSE:PSN - Free Report) by 23.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 668,140 shares of the company's stock after selling 208,378 shares during the quarter. William Blair Investment Management LLC owned about 0.63% of Parsons worth $61,636,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Facet Wealth Inc. purchased a new stake in shares of Parsons in the fourth quarter worth $3,040,000. Swiss National Bank raised its holdings in shares of Parsons by 0.6% in the 4th quarter. Swiss National Bank now owns 94,000 shares of the company's stock valued at $8,672,000 after acquiring an additional 600 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Parsons during the 4th quarter valued at about $7,171,000. Avantax Advisory Services Inc. grew its holdings in shares of Parsons by 6.7% during the fourth quarter. Avantax Advisory Services Inc. now owns 28,635 shares of the company's stock worth $2,642,000 after purchasing an additional 1,794 shares in the last quarter. Finally, Channing Capital Management LLC increased its position in shares of Parsons by 10.2% in the fourth quarter. Channing Capital Management LLC now owns 743,047 shares of the company's stock worth $68,546,000 after purchasing an additional 68,599 shares during the last quarter. 98.02% of the stock is currently owned by institutional investors.

Parsons Stock Up 0.1 %

PSN traded up $0.08 on Friday, hitting $59.10. The company had a trading volume of 1,252,021 shares, compared to its average volume of 1,581,926. The stock has a fifty day simple moving average of $72.68 and a 200-day simple moving average of $90.61. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 1.55. The firm has a market capitalization of $6.31 billion, a P/E ratio of 77.76, a P/E/G ratio of 0.93 and a beta of 0.78. Parsons Co. has a 52-week low of $54.56 and a 52-week high of $114.68.

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Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on PSN shares. Jefferies Financial Group dropped their target price on shares of Parsons from $110.00 to $100.00 and set a "buy" rating for the company in a research report on Friday, January 24th. TD Cowen lowered shares of Parsons from a "buy" rating to a "hold" rating and set a $105.00 target price for the company. in a research report on Friday, February 21st. Benchmark restated a "buy" rating and set a $90.00 price target on shares of Parsons in a research report on Wednesday, February 26th. The Goldman Sachs Group dropped their price target on Parsons from $109.00 to $98.00 and set a "buy" rating for the company in a research note on Tuesday, February 25th. Finally, KeyCorp reduced their price target 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. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, Parsons presently has an average rating of "Moderate Buy" and a consensus target price of $99.44.

Parsons Company 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.