The stock of Parsons Corporation (NYSE:PSN) last traded at $42.71, down -1.11% from the previous session.
PSN stock price is now -3.86% away from the 50-day moving average and -1.31% away from the 200-day moving average. The market capitalization of the company currently stands at $4.52B.
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With the price target maintained at $40, Morgan Stanley recently Downgraded its rating from Equal-Weight to Underweight for Parsons Corporation (NYSE: PSN). On December 22, 2022, Robert W. Baird recently initiated its ‘Neutral’ rating on the stock quoting a target price of $50, while ‘BofA Securities’ rates the stock as ‘Underperform’.
In other news, Ball George L., Chief Financial Officer bought 70,000 shares of the company’s stock on Aug 05. The stock was bought for $2,905,000 at an average price of $41.50. Upon completion of the transaction, the Chief Financial Officer now directly owns 122,857 shares in the company, valued at $5.25 million. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in PSN stock. A new stake in Parsons Corporation shares was purchased by LOOMIS SAYLES & CO L P during the first quarter worth $19,287,000. MILLENNIUM MANAGEMENT LLC invested $16,000,000 in shares of PSN during the first quarter. In the first quarter, DRIEHAUS CAPITAL MANAGEMENT LLC acquired a new stake in Parsons Corporation valued at approximately $11,136,000. TREXQUANT INVESTMENT LP acquired a new stake in PSN for approximately $3,206,000. CHURCHILL MANAGEMENT CORP purchased a new stake in PSN valued at around $3,008,000 in the second quarter. In total, there are 282 active investors with 99.27% ownership of the company’s stock.
With an opening price of $42.80 on Monday morning, Parsons Corporation (NYSE: PSN) set off the trading day. During the past 12 months, Parsons Corporation has had a low of $34.46 and a high of $50.15. As of last week, the company has a debt-to-equity ratio of 0.37, a current ratio of 1.60, and a quick ratio of 1.60. The fifty day moving average price for PSN is $44.42 and a two-hundred day moving average price translates $43.28 for the stock.
The latest earnings results from Parsons Corporation (NYSE: PSN) was released for Sep, 2022. According to the Information Technology Services Company, earnings per share came in at $0.48, missing analysts’ expectations of $0.51 by -0.03. This compares to $0.32 EPS in the same period last year. The net profit margin was 2.30% and return on equity was 4.90% for PSN. The company reported revenue of $1.1 billion for the quarter, compared to $950.67 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 16.04 percent. For the current quarter, analysts expect PSN to generate $1.07B in revenue.
Parsons Corporation(PSN) 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. It operates through two segments, Federal Solutions and Critical Infrastructure. The company offers cyber security and intelligence services, as well as offensive and defensive cybersecurity platforms, tools, and operations to the U.S. Department of Defense and the United States intelligence community; space and geospatial solutions, such as geospatial intelligence, threat analytics, space situational awareness, small satellite launch and integration, satellite ground systems, fight dynamics, and command, and control solutions to the National Geospatial-Intelligence Agency, National Reconnaissance Office, and multiple units within the U.S. Department of Defense. It also provides missile defense and C5ISR solutions, such as integrated air and missile defense, data fusion and analytics, platform system integration, directed energy, joint all-domain operations, and command and control systems to Defense Intelligence Agency and the U.S. Department of Defense; technology services for energy production systems, aviation, healthcare and bio-surveillance systems, and environmental systems and associated infrastructure, as well as nuclear waste processing and treatment, weapons of mass destruction elimination, program and project management, infectious disease control analytics, and data protection solutions. In addition, the company offers intelligent transportation system management, aviation, rail and transit systems, smart cities software, and critical infrastructure cyber protection to the transportation authorities, rail, and transit entities; engineering services for infrastructure; and program management, and environmental solutions to private-sector industrial clients and public utilities. Parsons Corporation was founded in 1944 and is headquartered in Centreville, Virginia.
