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

William Blair Investment Management LLC reduced its holdings in Parsons Co. (NYSE:PSN) by 23.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 668,140 shares of the company’s stock after selling 208,378 shares during the period. William Blair Investment Management LLC owned approximately 0.63% of Parsons worth $61,636,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in PSN. ORG Wealth Partners LLC bought a new stake in shares of Parsons during the fourth quarter valued at approximately $26,000. GAMMA Investing LLC increased its position in shares of Parsons by 224.7% during the fourth 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 period. True Wealth Design LLC bought a new stake in shares of Parsons during the third quarter valued at approximately $30,000. Principal Securities Inc. bought a new stake in shares of Parsons during the fourth quarter valued at approximately $33,000. Finally, R Squared Ltd bought a new stake in shares of Parsons during the fourth quarter valued at approximately $38,000. 98.02% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PSN has been the topic of a number of research reports. The Goldman Sachs Group lowered their price objective on Parsons from $109.00 to $98.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Robert W. Baird lowered their price objective on Parsons from $125.00 to $78.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. William Blair raised Parsons from a “market perform” rating to an “outperform” rating in a research note on Tuesday, February 18th. KeyCorp decreased their price target on Parsons from $122.00 to $102.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Finally, Benchmark reaffirmed a “buy” rating and issued a $90.00 price target on shares of Parsons in a research note on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $99.44.

Parsons Price Performance

Parsons stock opened at $59.14 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.55 and a current ratio of 1.29. Parsons Co. has a 52 week low of $54.56 and a 52 week high of $114.68. The firm has a market cap of $6.31 billion, a P/E ratio of 77.82, a P/E/G ratio of 0.93 and a beta of 0.78. The business’s fifty day moving average is $74.55 and its two-hundred day moving average is $91.29.

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.