Bank Julius Baer & Co. Ltd Zurich Raises Stock Position in Parsons Co. (NYSE:PSN)

Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of Parsons Co. (NYSE:PSN) by 15.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 86,149 shares of the company’s stock after buying an additional 11,520 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Parsons were worth $8,052,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. ORG Wealth Partners LLC purchased a new stake in shares of Parsons during the 4th quarter worth approximately $26,000. True Wealth Design LLC purchased a new stake in Parsons in the 3rd quarter valued at $30,000. GAMMA Investing LLC raised its position in Parsons by 224.7% in the 4th quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock valued at $29,000 after purchasing an additional 218 shares during the last quarter. Principal Securities Inc. purchased a new stake in Parsons in the 4th quarter valued at $33,000. Finally, R Squared Ltd purchased a new stake in Parsons in the 4th quarter valued at $38,000. Hedge funds and other institutional investors own 98.02% of the company’s stock.

Parsons Stock Performance

NYSE:PSN opened at $60.34 on Monday. The company has a quick ratio of 1.55, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. Parsons Co. has a fifty-two week low of $54.56 and a fifty-two week high of $114.68. The stock 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 firm’s fifty day simple moving average is $78.64 and its 200-day simple moving average is $92.84.

Analyst Upgrades and Downgrades

Several research firms recently commented on PSN. Raymond James downgraded shares of Parsons from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. The Goldman Sachs Group reduced their price target on shares of Parsons from $109.00 to $98.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. KeyCorp reduced their price target on shares of Parsons from $122.00 to $102.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Robert W. Baird reduced their price target on shares of Parsons from $125.00 to $78.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. Finally, Truist Financial cut their price objective on shares of Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Parsons 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.