Court Place Advisors LLC held its stake in Cerner Corporation (NASDAQ:CERN) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,900 shares of the company’s stock at the end of the second quarter. Court Place Advisors LLC’s holdings in Cerner Corporation were worth $259,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Johnson Financial Group Inc. boosted its stake in Cerner Corporation by 2.6% in the first quarter. Johnson Financial Group Inc. now owns 1,870 shares of the company’s stock worth $110,000 after buying an additional 47 shares during the last quarter. Alpha Windward LLC boosted its position in shares of Cerner Corporation by 6.1% in the first quarter. Alpha Windward LLC now owns 2,594 shares of the company’s stock worth $153,000 after buying an additional 148 shares during the last quarter. Archford Capital Strategies LLC boosted its position in shares of Cerner Corporation by 93.8% in the first quarter. Archford Capital Strategies LLC now owns 2,599 shares of the company’s stock worth $153,000 after buying an additional 1,258 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in shares of Cerner Corporation during the first quarter worth approximately $200,000. Finally, Brookstone Capital Management acquired a new position in shares of Cerner Corporation during the first quarter worth approximately $201,000. 81.78% of the stock is currently owned by institutional investors.
Cerner Corporation (NASDAQ CERN) traded down 1.3231% during trading on Wednesday, reaching $63.9525. The company’s stock had a trading volume of 701,752 shares. The stock’s 50-day moving average is $65.92 and its 200 day moving average is $60.63. Cerner Corporation has a 52-week low of $47.01 and a 52-week high of $69.28. The firm has a market capitalization of $21.17 billion, a price-to-earnings ratio of 32.3156 and a beta of 0.95.
Cerner Corporation (NASDAQ:CERN) last issued its quarterly earnings data on Thursday, July 27th. The company reported $0.56 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.57 by $0.01. Cerner Corporation had a net margin of 13.47% and a return on equity of 18.18%. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the previous year, the business posted $0.58 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis. On average, analysts predict that Cerner Corporation will post $2.51 EPS for the current fiscal year.
Cerner Corporation announced that its board has initiated a share buyback plan on Thursday, May 25th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 2.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
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CERN has been the topic of a number of recent research reports. UBS AG lifted their target price on shares of Cerner Corporation from $60.00 to $64.00 and gave the company a “buy” rating in a report on Friday, April 28th. Cantor Fitzgerald reiterated a “buy” rating and issued a $68.00 price objective (up from $66.00) on shares of Cerner Corporation in a research report on Thursday, April 27th. Canaccord Genuity reiterated a “buy” rating and issued a $66.00 price objective on shares of Cerner Corporation in a research report on Friday, June 2nd. Jefferies Group LLC restated a “buy” rating and set a $74.00 target price on shares of Cerner Corporation in a research report on Thursday, June 1st. Finally, BidaskClub lowered shares of Cerner Corporation from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 15th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $65.32.
In other Cerner Corporation news, Vice Chairman Clifford W. Illig sold 234,525 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $64.43, for a total value of $15,110,445.75. Following the sale, the insider now owns 1,229,719 shares of the company’s stock, valued at approximately $79,230,795.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Marc G. Naughton sold 60,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $68.63, for a total value of $4,117,800.00. The disclosure for this sale can be found here. Insiders sold a total of 700,542 shares of company stock worth $45,623,290 over the last three months. 13.20% of the stock is owned by company insiders.
Cerner Corporation Company Profile
Cerner Corporation (Cerner) is a supplier of healthcare information technology (HCIT). The Company offers a range of intelligent solutions and services that support the clinical, financial and operational needs of organizations of all sizes. The Company’s segments include Domestic and Global. The Domestic segment includes revenue contributions and expenditures associated with business activity in the United States.
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