Zions Bancorporation National Association UT Purchases 3,557 Shares of Mercury Systems Inc $MRCY

Zions Bancorporation National Association UT boosted its position in shares of Mercury Systems Inc (NASDAQ:MRCY) by 6.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 58,286 shares of the technology company’s stock after purchasing an additional 3,557 shares during the quarter. Zions Bancorporation National Association UT’s holdings in Mercury Systems were worth $3,139,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of MRCY. Teacher Retirement System of Texas bought a new position in shares of Mercury Systems in the first quarter worth approximately $319,000. Principal Financial Group Inc. raised its holdings in Mercury Systems by 11.8% in the 1st quarter. Principal Financial Group Inc. now owns 274,954 shares of the technology company’s stock worth $11,848,000 after acquiring an additional 29,074 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in Mercury Systems by 56.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 15,283 shares of the technology company’s stock valued at $659,000 after acquiring an additional 5,545 shares in the last quarter. Rice Hall James & Associates LLC purchased a new stake in Mercury Systems during the 1st quarter valued at $1,992,000. Finally, Jackson Creek Investment Advisors LLC bought a new stake in shares of Mercury Systems in the 1st quarter worth $1,518,000. 95.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on MRCY shares. Raymond James Financial reaffirmed a “strong-buy” rating and set a $100.00 price target on shares of Mercury Systems in a report on Wednesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Mercury Systems in a research report on Wednesday, October 8th. Wall Street Zen downgraded shares of Mercury Systems from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. Canaccord Genuity Group initiated coverage on shares of Mercury Systems in a research note on Thursday, October 2nd. They issued a “buy” rating and a $88.00 price target for the company. Finally, Royal Bank Of Canada set a $95.00 price objective on shares of Mercury Systems and gave the company an “outperform” rating in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $76.67.

Insider Buying and Selling

In other news, Director Jana Partners Management, Lp sold 797,000 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $65.42, for a total value of $52,139,740.00. Following the transaction, the director owned 5,964,313 shares of the company’s stock, valued at $390,185,356.46. This trade represents a 11.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Steven Ratner sold 7,000 shares of Mercury Systems stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $63.76, for a total value of $446,320.00. Following the transaction, the executive vice president directly owned 33,801 shares in the company, valued at approximately $2,155,151.76. The trade was a 17.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 848,980 shares of company stock worth $55,529,247 in the last quarter. Company insiders own 1.40% of the company’s stock.

Mercury Systems Stock Performance

MRCY opened at $74.07 on Friday. The company’s 50 day moving average is $75.85 and its 200 day moving average is $61.04. The company has a current ratio of 3.52, a quick ratio of 2.41 and a debt-to-equity ratio of 0.40. The company has a market cap of $4.45 billion, a price-to-earnings ratio of -112.23, a PEG ratio of 3.17 and a beta of 0.79. Mercury Systems Inc has a 12-month low of $37.28 and a 12-month high of $85.33.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings results on Tuesday, June 7th. The technology company reported $0.64 earnings per share for the quarter. The business had revenue of $256.86 million for the quarter. Mercury Systems had a negative net margin of 4.16% and a positive return on equity of 0.58%. On average, equities research analysts predict that Mercury Systems Inc will post -0.08 EPS for the current year.

About Mercury Systems

Mercury Systems, Inc, a technology company, manufactures and sells components, products, modules, and subsystems for aerospace and defense industries in the United States, Europe, and the Asia Pacific. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors and commercial aviation customers.