TimesSquare Capital Management LLC Invests $22.54 Million in Parsons Corporation $PSN

TimesSquare Capital Management LLC acquired a new position in Parsons Corporation (NYSE:PSN) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 314,120 shares of the company’s stock, valued at approximately $22,544,000. TimesSquare Capital Management LLC owned about 0.29% of Parsons as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Banque Transatlantique SA acquired a new position in shares of Parsons in the 1st quarter valued at $34,000. True Wealth Design LLC increased its stake in Parsons by 63.9% during the 2nd quarter. True Wealth Design LLC now owns 485 shares of the company’s stock worth $35,000 after buying an additional 189 shares in the last quarter. Signaturefd LLC raised its stake in Parsons by 63.1% in the 1st quarter. Signaturefd LLC now owns 610 shares of the company’s stock valued at $36,000 after purchasing an additional 236 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of Parsons by 38.0% in the first quarter. NewEdge Advisors LLC now owns 959 shares of the company’s stock valued at $57,000 after buying an additional 264 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its holdings in shares of Parsons by 433.9% during the 1st quarter. Jones Financial Companies Lllp now owns 1,260 shares of the company’s stock worth $75,000 after purchasing an additional 1,024 shares during the last quarter. Hedge funds and other institutional investors own 98.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PSN shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Parsons in a research note on Wednesday, October 8th. Zacks Research raised shares of Parsons from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 14th. Truist Financial raised their target price on shares of Parsons from $90.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, September 30th. KeyCorp boosted their target price on Parsons from $87.00 to $93.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Finally, Baird R W upgraded shares of Parsons from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.40.

Parsons Stock Performance

Shares of PSN opened at $86.31 on Thursday. Parsons Corporation has a 1 year low of $54.56 and a 1 year high of $114.19. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.67 and a current ratio of 1.67. The company’s fifty day moving average is $82.40 and its two-hundred day moving average is $75.71. The stock has a market capitalization of $9.19 billion, a P/E ratio of 39.59, a P/E/G ratio of 4.55 and a beta of 0.62.

Parsons (NYSE:PSN) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.74 by $0.12. Parsons had a net margin of 3.69% and a return on equity of 11.98%. The firm had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter last year, the business earned $0.95 earnings per share. The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. Parsons has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Parsons Corporation will post 3.58 earnings per share for the current year.

Parsons 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.