Cerner Co. (CERN) Position Reduced by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lessened its position in Cerner Co. (NASDAQ:CERN) by 60.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 244,903 shares of the company’s stock after selling 378,575 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Cerner were worth $15,774,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Icon Wealth Partners LLC bought a new position in shares of Cerner during the 2nd quarter worth about $102,000. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of Cerner by 155.7% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,347 shares of the company’s stock worth $151,000 after purchasing an additional 1,429 shares during the period. CWM LLC increased its holdings in shares of Cerner by 880.5% during the 2nd quarter. CWM LLC now owns 2,510 shares of the company’s stock worth $150,000 after purchasing an additional 2,254 shares during the period. Qube Research & Technologies Ltd increased its holdings in shares of Cerner by 85.4% during the 2nd quarter. Qube Research & Technologies Ltd now owns 2,898 shares of the company’s stock worth $173,000 after purchasing an additional 1,335 shares during the period. Finally, Raymond James Trust N.A. bought a new position in shares of Cerner during the 3rd quarter worth about $201,000. Hedge funds and other institutional investors own 77.70% of the company’s stock.

In other Cerner news, Vice Chairman Clifford W. Illig sold 5,000 shares of the business’s stock in a transaction dated Monday, November 19th. The shares were sold at an average price of $57.19, for a total value of $285,950.00. Following the completion of the transaction, the insider now directly owns 1,229,719 shares of the company’s stock, valued at $70,327,629.61. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Zane M. Burke sold 381,139 shares of the business’s stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $64.05, for a total transaction of $24,411,952.95. Following the completion of the transaction, the president now directly owns 59,539 shares of the company’s stock, valued at $3,813,472.95. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 919,678 shares of company stock valued at $57,136,166. Insiders own 4.71% of the company’s stock.

Several research analysts have recently issued reports on CERN shares. Royal Bank of Canada downgraded shares of Cerner from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $72.00 to $54.00 in a report on Friday, October 26th. Zacks Investment Research lowered shares of Cerner from a “hold” rating to a “sell” rating in a research report on Monday, October 8th. BidaskClub lowered shares of Cerner from a “hold” rating to a “sell” rating in a research report on Friday, August 31st. Leerink Swann upgraded shares of Cerner from a “market perform” rating to an “outperform” rating and set a $70.00 target price on the stock in a research report on Monday, October 29th. Finally, Barclays started coverage on shares of Cerner in a research report on Thursday, September 13th. They set an “equal weight” rating and a $70.00 target price on the stock. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $69.98.

NASDAQ:CERN opened at $57.91 on Monday. The stock has a market capitalization of $19.08 billion, a price-to-earnings ratio of 26.32, a PEG ratio of 1.89 and a beta of 0.96. Cerner Co. has a 12 month low of $50.91 and a 12 month high of $73.43. The company has a current ratio of 2.63, a quick ratio of 2.60 and a debt-to-equity ratio of 0.09.

Cerner (NASDAQ:CERN) last announced its earnings results on Thursday, October 25th. The company reported $0.57 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.58 by ($0.01). Cerner had a return on equity of 14.73% and a net margin of 15.72%. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.36 billion. Research analysts predict that Cerner Co. will post 2.22 earnings per share for the current fiscal year.

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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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