Prudential Financial Inc. grew its position in Mercury Systems Inc (NASDAQ:MRCY) by 30.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 102,413 shares of the technology company’s stock after buying an additional 23,990 shares during the period. Prudential Financial Inc.’s holdings in Mercury Systems were worth $7,205,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in MRCY. Aperio Group LLC lifted its position in Mercury Systems by 21.7% during the second quarter. Aperio Group LLC now owns 16,395 shares of the technology company’s stock valued at $1,153,000 after acquiring an additional 2,922 shares during the last quarter. SG Americas Securities LLC raised its stake in Mercury Systems by 1,751.6% in the second quarter. SG Americas Securities LLC now owns 40,050 shares of the technology company’s stock valued at $2,818,000 after buying an additional 37,887 shares during the last quarter. CIBC Asset Management Inc acquired a new stake in Mercury Systems in the first quarter worth about $227,000. Sawgrass Asset Management LLC acquired a new stake in Mercury Systems in the first quarter worth about $544,000. Finally, State of Alaska Department of Revenue boosted its holdings in Mercury Systems by 15.4% in the second quarter. State of Alaska Department of Revenue now owns 18,842 shares of the technology company’s stock worth $1,325,000 after acquiring an additional 2,511 shares in the last quarter. Institutional investors and hedge funds own 96.82% of the company’s stock.

MRCY stock traded down $0.30 during midday trading on Wednesday, reaching $76.57. The stock had a trading volume of 60,135 shares, compared to its average volume of 335,435. The firm has a fifty day simple moving average of $81.52 and a two-hundred day simple moving average of $71.27. Mercury Systems Inc has a 52-week low of $41.16 and a 52-week high of $89.44. The stock has a market cap of $4.26 billion, a PE ratio of 50.38, a P/E/G ratio of 4.19 and a beta of 1.11.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings results on Tuesday, July 30th. The technology company reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.11. The business had revenue of $176.96 million for the quarter, compared to the consensus estimate of $171.98 million. Mercury Systems had a return on equity of 8.11% and a net margin of 7.14%. The company’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.47 EPS. As a group, research analysts forecast that Mercury Systems Inc will post 1.72 EPS for the current fiscal year.

In related news, CAO Michelle M. Mccarthy sold 624 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $84.99, for a total value of $53,033.76. Following the sale, the chief accounting officer now owns 10,982 shares in the company, valued at $933,360.18. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Christopher C. Cambria sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $88.61, for a total transaction of $886,100.00. Following the completion of the transaction, the executive vice president now owns 67,152 shares in the company, valued at approximately $5,950,338.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,038 shares of company stock valued at $5,032,059. Company insiders own 2.80% of the company’s stock.

Several research firms have recently issued reports on MRCY. Zacks Investment Research upgraded shares of Mercury Systems from a “sell” rating to a “hold” rating in a report on Tuesday, August 6th. Bank of America upgraded shares of Mercury Systems from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $50.00 to $85.00 in a research note on Friday, August 9th. BidaskClub downgraded shares of Mercury Systems from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Goldman Sachs Group started coverage on shares of Mercury Systems in a research note on Friday, August 16th. They set a “neutral” rating and a $75.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $73.50.

Mercury Systems Profile

Mercury Systems, Inc provides sensor and safety critical mission processing subsystems for various critical defense and intelligence programs in the United States. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors. The company's principal programs include Aegis, Patriot, Surface Electronic Warfare Improvement Program, Gorgon Stare, Predator, F-35, Reaper, F-16 SABR, E2D Hawkeye, Paveway, Filthy Buzzard, PGK, ProVision, P1, and AIDEWS.

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Institutional Ownership by Quarter for Mercury Systems (NASDAQ:MRCY)

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