Fintel reports that on May 3, 2024, TD Cowen upgraded their outlook for Parsons (NYSE:PSN) from Hold to Buy.
Analyst Price Forecast Suggests 9.97% Upside
As of May 2, 2024, the average one-year price target for Parsons is 86.29. The forecasts range from a low of 68.68 to a high of $105.00. The average price target represents an increase of 9.97% from its latest reported closing price of 78.47.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Parsons is 4,735MM, a decrease of 18.43%. The projected annual non-GAAP EPS is 2.43.
What is the Fund Sentiment?
There are 602 funds or institutions reporting positions in Parsons. This is an increase of 63 owner(s) or 11.69% in the last quarter. Average portfolio weight of all funds dedicated to PSN is 0.27%, an increase of 3.91%. Total shares owned by institutions increased in the last three months by 3.43% to 114,876K shares. 
The put/call ratio of PSN is 0.40, indicating a bullish outlook.
What are Other Shareholders Doing?
Newport Trust holds 58,994K shares representing 55.74% ownership of the company. In its prior filing, the firm reported owning 59,791K shares , representing a decrease of 1.35%. The firm decreased its portfolio allocation in PSN by 1.34% over the last quarter.
T. Rowe Price Investment Management holds 4,002K shares representing 3.78% ownership of the company. In its prior filing, the firm reported owning 3,991K shares , representing an increase of 0.26%. The firm increased its portfolio allocation in PSN by 6.41% over the last quarter.
Earnest Partners holds 2,603K shares representing 2.46% ownership of the company. In its prior filing, the firm reported owning 2,716K shares , representing a decrease of 4.37%. The firm decreased its portfolio allocation in PSN by 4.30% over the last quarter.
Invesco holds 1,802K shares representing 1.70% ownership of the company. In its prior filing, the firm reported owning 440K shares , representing an increase of 75.59%. The firm decreased its portfolio allocation in PSN by 61.94% over the last quarter.
Mackenzie Financial holds 1,753K shares representing 1.66% ownership of the company. In its prior filing, the firm reported owning 2,493K shares , representing a decrease of 42.21%. The firm decreased its portfolio allocation in PSN by 26.64% over the last quarter.
Parsons Background Information
(This description is provided by the company.)
Parsons is a leading disruptive technology provider in the global defense, intelligence, and critical infrastructure markets, with capabilities across cybersecurity, missile defense, space, connected infrastructure, and smart cities.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
Click to Learn More
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
