State Board of Administration of Florida Retirement System Trims Stake in Cerner Corporation (CERN)

State Board of Administration of Florida Retirement System reduced its position in Cerner Corporation (NASDAQ:CERN) by 0.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 430,171 shares of the company’s stock after selling 3,130 shares during the period. State Board of Administration of Florida Retirement System owned 0.13% of Cerner Corporation worth $30,680,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp increased its position in Cerner Corporation by 19.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 17,546,618 shares of the company’s stock valued at $1,166,325,000 after acquiring an additional 2,800,955 shares during the period. American Century Companies Inc. increased its position in Cerner Corporation by 62.4% in the 2nd quarter. American Century Companies Inc. now owns 3,929,394 shares of the company’s stock valued at $261,187,000 after acquiring an additional 1,510,288 shares during the period. Vanguard Group Inc. increased its position in Cerner Corporation by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 29,296,545 shares of the company’s stock valued at $1,947,341,000 after acquiring an additional 876,919 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in Cerner Corporation in the 2nd quarter valued at about $44,524,000. Finally, Prudential Financial Inc. increased its position in Cerner Corporation by 64.5% in the 2nd quarter. Prudential Financial Inc. now owns 1,192,666 shares of the company’s stock valued at $79,277,000 after acquiring an additional 467,476 shares during the period. 78.64% of the stock is owned by institutional investors and hedge funds.

In other news, Chairman Clifford W. Illig sold 118,113 shares of the firm’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $62.03, for a total transaction of $7,326,549.39. Following the completion of the sale, the chairman now directly owns 1,229,719 shares in the company, valued at $76,279,469.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Randy D. Sims sold 60,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $68.03, for a total value of $4,081,800.00. Following the sale, the senior vice president now owns 60,890 shares of the company’s stock, valued at $4,142,346.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 371,583 shares of company stock valued at $24,758,191. 13.20% of the stock is owned by insiders.

Several research firms have issued reports on CERN. Cantor Fitzgerald reiterated a “buy” rating and set a $77.00 target price on shares of Cerner Corporation in a research report on Tuesday, October 10th. KeyCorp reiterated a “buy” rating and set a $76.00 target price on shares of Cerner Corporation in a research report on Friday, September 22nd. Robert W. Baird reiterated a “hold” rating and set a $67.00 target price on shares of Cerner Corporation in a research report on Thursday, August 31st. SunTrust Banks, Inc. reiterated a “buy” rating and set a $79.00 target price on shares of Cerner Corporation in a research report on Thursday, October 19th. Finally, Zacks Investment Research cut Cerner Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have given a buy rating to the company’s stock. Cerner Corporation presently has a consensus rating of “Hold” and an average target price of $68.80.

Shares of Cerner Corporation (NASDAQ:CERN) opened at $65.43 on Monday. The firm has a market capitalization of $21,749.91, a P/E ratio of 28.95, a price-to-earnings-growth ratio of 2.10 and a beta of 0.93. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.77 and a quick ratio of 2.75.

Cerner Corporation (NASDAQ:CERN) last released its quarterly earnings data on Thursday, October 26th. The company reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.01). Cerner Corporation had a return on equity of 18.03% and a net margin of 13.37%. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the previous year, the company earned $0.59 earnings per share. The company’s quarterly revenue was up 7.7% on a year-over-year basis. research analysts forecast that Cerner Corporation will post 2.26 EPS for the current year.

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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.

Institutional Ownership by Quarter for Cerner Corporation (NASDAQ:CERN)

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