Kelly Lawrence W & Associates Inc. CA reduced its position in shares of Cerner Corporation (NASDAQ:CERN) by 28.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,500 shares of the company’s stock after selling 600 shares during the period. Kelly Lawrence W & Associates Inc. CA’s holdings in Cerner Corporation were worth $100,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the stock. SG Americas Securities LLC raised its stake in Cerner Corporation by 581.2% in the first quarter. SG Americas Securities LLC now owns 400,861 shares of the company’s stock worth $23,591,000 after buying an additional 342,013 shares during the period. Toronto Dominion Bank raised its stake in shares of Cerner Corporation by 54.8% in the first quarter. Toronto Dominion Bank now owns 82,127 shares of the company’s stock valued at $4,834,000 after buying an additional 29,068 shares during the last quarter. IBM Retirement Fund raised its stake in shares of Cerner Corporation by 114.6% in the second quarter. IBM Retirement Fund now owns 7,038 shares of the company’s stock valued at $523,000 after buying an additional 3,759 shares during the last quarter. Cim Investment Mangement Inc. raised its stake in shares of Cerner Corporation by 146.2% in the first quarter. Cim Investment Mangement Inc. now owns 26,370 shares of the company’s stock valued at $1,552,000 after buying an additional 15,661 shares during the last quarter. Finally, Ardevora Asset Management LLP acquired a new stake in shares of Cerner Corporation during the second quarter valued at approximately $27,977,000. Hedge funds and other institutional investors own 82.34% of the company’s stock.
Shares of Cerner Corporation (NASDAQ CERN) traded up 1.40% during midday trading on Friday, hitting $64.25. The company had a trading volume of 2,249,981 shares. The stock has a 50 day moving average price of $64.58 and a 200 day moving average price of $61.47. Cerner Corporation has a 1-year low of $47.01 and a 1-year high of $69.28. The firm has a market capitalization of $21.30 billion, a P/E ratio of 32.47 and a beta of 0.95.
Cerner Corporation (NASDAQ:CERN) last issued its earnings results on Thursday, July 27th. The company reported $0.56 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by $0.01. Cerner Corporation had a return on equity of 18.18% and a net margin of 13.47%. The business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same period last year, the business earned $0.58 EPS. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities analysts anticipate that Cerner Corporation will post $2.50 EPS for the current fiscal year.
Cerner Corporation declared that its board has authorized a share repurchase plan on Thursday, May 25th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to buy up to 2.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
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A number of research firms recently weighed in on CERN. Bank of America Corporation raised Cerner Corporation from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $64.36 to $66.00 in a research note on Monday, May 15th. William Blair reaffirmed an “outperform” rating on shares of Cerner Corporation in a research note on Monday, July 10th. Canaccord Genuity upped their price target on Cerner Corporation from $59.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, May 1st. BidaskClub downgraded Cerner Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $69.00 price objective on shares of Cerner Corporation in a research note on Friday, July 28th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $65.84.
In other Cerner Corporation news, Chairman Clifford W. Illig sold 118,113 shares of Cerner Corporation stock in a transaction on Friday, August 11th. The shares were sold at an average price of $62.03, for a total value of $7,326,549.39. Following the completion of the transaction, the chairman now owns 1,229,719 shares of the company’s stock, valued at $76,279,469.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gerald E. Bisbee, Jr. sold 6,200 shares of Cerner Corporation stock in a transaction on Friday, June 9th. The shares were sold at an average price of $67.97, for a total transaction of $421,414.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 248,913 shares of company stock valued at $16,252,337. 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.
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