Canada Pension Plan Investment Board Sells 186,711 Shares of Cerner Co. (CERN)

Canada Pension Plan Investment Board cut its holdings in Cerner Co. (NASDAQ:CERN) by 42.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 257,484 shares of the company’s stock after selling 186,711 shares during the period. Canada Pension Plan Investment Board’s holdings in Cerner were worth $16,585,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CERN. DekaBank Deutsche Girozentrale increased its holdings in Cerner by 3.1% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 139,041 shares of the company’s stock valued at $9,159,000 after acquiring an additional 4,127 shares during the last quarter. CIBC World Markets Inc. increased its holdings in Cerner by 54.4% in the 3rd quarter. CIBC World Markets Inc. now owns 25,153 shares of the company’s stock valued at $1,620,000 after acquiring an additional 8,867 shares during the last quarter. Gratus Capital LLC bought a new stake in Cerner in the 3rd quarter valued at $335,000. Rafferty Asset Management LLC increased its holdings in Cerner by 13.1% in the 3rd quarter. Rafferty Asset Management LLC now owns 31,151 shares of the company’s stock valued at $2,006,000 after acquiring an additional 3,608 shares during the last quarter. Finally, American International Group Inc. increased its holdings in Cerner by 7.3% in the 3rd quarter. American International Group Inc. now owns 159,820 shares of the company’s stock valued at $10,294,000 after acquiring an additional 10,817 shares during the last quarter. Institutional investors and hedge funds own 77.70% of the company’s stock.

In related news, Vice Chairman Clifford W. Illig sold 250,000 shares of Cerner stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $57.53, for a total transaction of $14,382,500.00. Following the completion of the transaction, the insider now directly owns 1,229,719 shares of the company’s stock, valued at approximately $70,745,734.07. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Vice Chairman Clifford W. Illig sold 5,000 shares of Cerner stock in a transaction dated Monday, November 19th. The stock was sold at an average price of $57.19, for a total transaction of $285,950.00. Following the transaction, the insider now directly owns 1,229,719 shares of the company’s stock, valued at $70,327,629.61. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 919,678 shares of company stock valued at $57,136,166. 4.71% of the stock is owned by corporate insiders.

Shares of NASDAQ:CERN opened at $57.91 on Monday. Cerner Co. has a 52 week low of $50.91 and a 52 week high of $73.43. The firm has a market capitalization of $19.08 billion, a price-to-earnings ratio of 26.69, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.63 and a quick ratio of 2.60.

Cerner (NASDAQ:CERN) last issued its quarterly earnings data on Thursday, October 25th. The company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). Cerner had a return on equity of 14.73% and a net margin of 15.72%. The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.36 billion. As a group, research analysts expect that Cerner Co. will post 2.22 EPS for the current fiscal year.

A number of analysts have issued reports on CERN shares. Zacks Investment Research downgraded shares of Cerner from a “hold” rating to a “sell” rating in a report on Monday, October 8th. SunTrust Banks lifted their price target on shares of Cerner to $65.00 and gave the company a “hold” rating in a report on Monday, August 6th. Cantor Fitzgerald reiterated a “buy” rating and issued a $80.00 price target on shares of Cerner in a report on Wednesday, September 12th. Barclays started coverage on shares of Cerner in a research note on Thursday, September 13th. They issued an “equal weight” rating and a $70.00 price objective for the company. Finally, BidaskClub cut shares of Cerner from a “hold” rating to a “sell” rating in a research note on Friday, August 31st. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $69.98.

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About Cerner

Cerner Corporation provides health care information technology solutions and services in the United States and internationally. The company offers Cerner Millennium architecture, a person-centric computing framework, which includes clinical, financial, and management information systems that allow providers to access an individual's electronic health record (EHR) at the point of care, and organizes and delivers information for physicians, nurses, laboratory technicians, pharmacists, front- and back-office professionals, and consumers.

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Institutional Ownership by Quarter for Cerner (NASDAQ:CERN)

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