Court Place Advisors LLC Maintains Stake in Cerner Corporation (NASDAQ:CERN)

Court Place Advisors LLC held its position in shares of Cerner Corporation (NASDAQ:CERN) during the second quarter, according to its most recent filing with the 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.

Several other hedge funds and other institutional investors also recently made changes to their positions in CERN. BlackRock Inc. raised its position in shares of Cerner Corporation by 3,008.5% in the first quarter. BlackRock Inc. now owns 18,298,722 shares of the company’s stock valued at $1,076,881,000 after buying an additional 17,710,062 shares during the last quarter. UBS Group AG raised its position in shares of Cerner Corporation by 1,843.1% in the first quarter. UBS Group AG now owns 5,306,053 shares of the company’s stock valued at $312,261,000 after buying an additional 5,032,976 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Cerner Corporation by 29.9% in the first quarter. Bank of New York Mellon Corp now owns 14,745,663 shares of the company’s stock worth $867,783,000 after buying an additional 3,391,745 shares during the period. Fiduciary Management Inc. WI increased its stake in Cerner Corporation by 63.2% in the first quarter. Fiduciary Management Inc. WI now owns 8,241,408 shares of the company’s stock worth $485,007,000 after buying an additional 3,192,338 shares during the period. Finally, Veritas Asset Management LLP acquired a new stake in Cerner Corporation during the first quarter worth about $186,725,000. Institutional investors and hedge funds own 81.19% of the company’s stock.

Cerner Corporation (CERN) opened at 62.49 on Thursday. The company has a 50-day moving average price of $65.38 and a 200-day moving average price of $60.99. Cerner Corporation has a 52 week low of $47.01 and a 52 week high of $69.28. The stock has a market cap of $20.72 billion, a PE ratio of 31.58 and a beta of 0.95.

Cerner Corporation (NASDAQ:CERN) last issued its quarterly earnings results on Thursday, July 27th. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by $0.01. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.30 billion. Cerner Corporation had a net margin of 13.47% and a return on equity of 18.18%. The company’s revenue was up 6.3% compared to the same quarter last year. During the same period last year, the company earned $0.58 EPS. Analysts anticipate that Cerner Corporation will post $2.50 earnings per share for the current year.

Cerner Corporation announced that its Board of Directors has initiated a stock repurchase program on Thursday, May 25th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to purchase up to 2.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

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A number of analysts recently issued reports on the stock. UBS AG reissued a “neutral” rating and set a $69.00 target price (up previously from $64.00) on shares of Cerner Corporation in a research report on Tuesday, June 6th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $77.00 price objective (up previously from $68.00) on shares of Cerner Corporation in a research report on Monday, June 5th. J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $72.00 price objective (up previously from $65.00) on shares of Cerner Corporation in a research report on Tuesday, June 6th. Canaccord Genuity reaffirmed a “buy” rating and issued a $66.00 price objective on shares of Cerner Corporation in a research report on Friday, June 2nd. Finally, BidaskClub raised shares of Cerner Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. 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 presently has an average rating of “Hold” and a consensus target price of $64.94.

In related news, CFO Marc G. Naughton sold 60,000 shares of the company’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $68.63, for a total value of $4,117,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gerald E. Bisbee, Jr. sold 6,200 shares of the company’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $67.97, for a total value of $421,414.00. The disclosure for this sale can be found here. Insiders sold 173,800 shares of company stock valued at $11,691,978 in the last quarter. 13.20% of the stock is currently owned by corporate insiders.

About Cerner Corporation

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.