Wells Fargo & Company MN Increases Stock Position in Mercury Systems, Inc. (NASDAQ:MRCY)

Wells Fargo & Company MN boosted its holdings in Mercury Systems, Inc. (NASDAQ:MRCY - Free Report) by 12.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,685 shares of the technology company's stock after purchasing an additional 5,038 shares during the quarter. Wells Fargo & Company MN owned about 0.07% of Mercury Systems worth $1,877,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Mercury Systems in the fourth quarter valued at about $75,000. KBC Group NV increased its position in Mercury Systems by 49.4% in the 4th quarter. KBC Group NV now owns 2,496 shares of the technology company's stock valued at $105,000 after acquiring an additional 825 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its stake in Mercury Systems by 52.5% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 4,502 shares of the technology company's stock valued at $189,000 after acquiring an additional 1,549 shares during the last quarter. Cibc World Markets Corp purchased a new stake in Mercury Systems during the 4th quarter valued at approximately $204,000. Finally, CIBC Asset Management Inc acquired a new stake in Mercury Systems during the 4th quarter worth approximately $225,000. Institutional investors and hedge funds own 95.99% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on MRCY shares. Robert W. Baird raised Mercury Systems from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $37.00 to $58.00 in a report on Wednesday, February 5th. Baird R W raised shares of Mercury Systems from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 5th. The Goldman Sachs Group raised their target price on shares of Mercury Systems from $25.00 to $28.00 and gave the stock a "sell" rating in a research note on Thursday, January 16th. Finally, Truist Financial raised shares of Mercury Systems from a "hold" rating to a "buy" rating and lifted their target price for the company from $49.00 to $56.00 in a report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $43.86.

Mercury Systems Stock Performance

Shares of MRCY opened at $49.75 on Friday. The company has a quick ratio of 2.36, a current ratio of 3.62 and a debt-to-equity ratio of 0.41. Mercury Systems, Inc. has a 52-week low of $26.48 and a 52-week high of $52.25. The company has a 50-day simple moving average of $44.96 and a 200-day simple moving average of $41.88. The company has a market capitalization of $2.97 billion, a PE ratio of -31.89 and a beta of 0.86.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last issued its earnings results on Tuesday, February 4th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.04). Mercury Systems had a negative net margin of 10.23% and a negative return on equity of 2.03%. Equities research analysts predict that Mercury Systems, Inc. will post -0.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Charles Roger Iv Wells sold 2,342 shares of Mercury Systems stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $44.12, for a total transaction of $103,329.04. Following the completion of the transaction, the chief operating officer now owns 95,928 shares of the company's stock, valued at $4,232,343.36. The trade was a 2.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Douglas Munro sold 595 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $44.12, for a total transaction of $26,251.40. Following the completion of the sale, the chief accounting officer now directly owns 14,572 shares in the company, valued at approximately $642,916.64. The trade was a 3.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,314 shares of company stock worth $234,454. 1.60% of the stock is owned by corporate insiders.

Mercury Systems Profile

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.

Want to see what other hedge funds are holding MRCY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mercury Systems, Inc. (NASDAQ:MRCY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.