Bank of America Corp DE reduced its position in Mercury Systems Inc (NASDAQ:MRCY) by 5.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 495,882 shares of the technology company’s stock after selling 29,281 shares during the quarter. Bank of America Corp DE owned 0.89% of Mercury Systems worth $39,005,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Advisor Group Holdings Inc. boosted its holdings in shares of Mercury Systems by 237.0% in the 2nd quarter. Advisor Group Holdings Inc. now owns 12,637 shares of the technology company’s stock worth $996,000 after purchasing an additional 8,887 shares in the last quarter. Baird Financial Group Inc. lifted its stake in shares of Mercury Systems by 5.2% in the 2nd quarter. Baird Financial Group Inc. now owns 546,690 shares of the technology company’s stock valued at $37,782,000 after acquiring an additional 26,933 shares during the last quarter. Pier Capital LLC lifted its stake in shares of Mercury Systems by 8.8% in the 2nd quarter. Pier Capital LLC now owns 84,526 shares of the technology company’s stock valued at $6,649,000 after acquiring an additional 6,847 shares during the last quarter. American Capital Management Inc. lifted its stake in shares of Mercury Systems by 45.9% in the 2nd quarter. American Capital Management Inc. now owns 28,998 shares of the technology company’s stock valued at $2,281,000 after acquiring an additional 9,120 shares during the last quarter. Finally, RK Capital Management LLC lifted its stake in shares of Mercury Systems by 14.9% in the 2nd quarter. RK Capital Management LLC now owns 108,800 shares of the technology company’s stock valued at $8,558,000 after acquiring an additional 14,070 shares during the last quarter. Hedge funds and other institutional investors own 96.13% of the company’s stock.

Mercury Systems stock opened at $67.66 on Wednesday. The company has a market capitalization of $3.79 billion, a P/E ratio of 43.37, a PEG ratio of 2.98 and a beta of 1.01. The stock’s 50 day moving average is $75.42 and its 200 day moving average is $77.51. Mercury Systems Inc has a twelve month low of $52.24 and a twelve month high of $96.29.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings results on Tuesday, August 4th. The technology company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.15. The company had revenue of $217.40 million for the quarter, compared to the consensus estimate of $212.43 million. Mercury Systems had a return on equity of 7.92% and a net margin of 10.76%. The firm’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.47 EPS. Research analysts predict that Mercury Systems Inc will post 1.82 earnings per share for the current fiscal year.

In other Mercury Systems news, CAO Michelle M. Mccarthy sold 388 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $78.64, for a total transaction of $30,512.32. Following the sale, the chief accounting officer now directly owns 12,136 shares in the company, valued at approximately $954,375.04. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Michelle M. Mccarthy sold 975 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $76.14, for a total value of $74,236.50. Following the sale, the chief accounting officer now owns 11,072 shares in the company, valued at $843,022.08. The disclosure for this sale can be found here. Insiders sold a total of 127,946 shares of company stock worth $10,025,125 in the last 90 days. 1.90% of the stock is currently owned by company insiders.

A number of equities research analysts have recently weighed in on MRCY shares. Bank of America raised Mercury Systems from a “neutral” rating to a “buy” rating and boosted their target price for the company from $95.00 to $106.00 in a research note on Friday, August 7th. Royal Bank of Canada reaffirmed a “hold” rating and set a $85.00 price target on shares of Mercury Systems in a research report on Thursday, August 6th. BofA Securities raised Mercury Systems from a “neutral” rating to a “buy” rating and upped their price target for the company from $95.00 to $106.00 in a research report on Friday, August 7th. Finally, BidaskClub lowered Mercury Systems from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. Mercury Systems currently has a consensus rating of “Buy” and an average price target of $94.63.

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.

See Also: What is a management fee?

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

Receive News & Ratings for Mercury Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mercury Systems and related companies with MarketBeat.com's FREE daily email newsletter.