Northern Trust Corp bought a new position in shares of Parsons Corp (NYSE:PSN) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 93,581 shares of the company’s stock, valued at approximately $3,449,000. Northern Trust Corp owned 0.09% of Parsons at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the company. Clarus Wealth Advisors acquired a new position in shares of Parsons during the 2nd quarter worth about $56,000. Bank of Montreal Can acquired a new position in shares of Parsons during the 2nd quarter worth about $57,000. Benjamin Edwards Inc. acquired a new position in shares of Parsons during the 2nd quarter worth about $129,000. Advisor Group Inc. acquired a new position in shares of Parsons during the 2nd quarter worth about $167,000. Finally, Strs Ohio acquired a new position in shares of Parsons during the 2nd quarter worth about $184,000. Institutional investors own 99.43% of the company’s stock.
Several equities analysts have recently issued reports on PSN shares. ValuEngine lowered Parsons from a “buy” rating to a “hold” rating in a research report on Tuesday, October 1st. Cowen reiterated a “buy” rating and set a $40.00 price objective on shares of Parsons in a report on Monday, August 26th. Wells Fargo & Co cut Parsons from an “outperform” rating to a “market perform” rating and set a $36.00 price objective on the stock. in a report on Wednesday, June 26th. They noted that the move was a valuation call. SunTrust Banks lifted their price objective on Parsons from $37.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Finally, Morgan Stanley set a $36.00 price objective on Parsons and gave the company a “hold” rating in a report on Monday, September 9th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $38.71.
Parsons (NYSE:PSN) last released its earnings results on Tuesday, August 13th. The company reported $0.43 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.21). The business had revenue of $989.74 million during the quarter, compared to analysts’ expectations of $953.83 million. During the same quarter last year, the firm earned $0.40 EPS. The business’s quarterly revenue was up 9.9% on a year-over-year basis. On average, equities research analysts expect that Parsons Corp will post 1.46 earnings per share for the current fiscal year.
Parsons Corporation provides technology based solutions in the defense, intelligence, and critical infrastructure markets in North America, the Middle East, and internationally. It operates in two segments, Federal Solutions and Critical Infrastructure. The company offers cybersecurity software and engineering services, hardware prototyping, and other technical services to the U.S.
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