Clear Perspective Advisors LLC Decreases Holdings in Cerner Co. (CERN)

Clear Perspective Advisors LLC lessened its stake in shares of Cerner Co. (NASDAQ:CERN) by 33.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,498 shares of the company’s stock after selling 3,720 shares during the quarter. Clear Perspective Advisors LLC’s holdings in Cerner were worth $483,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Bank of Montreal Can acquired a new stake in Cerner in the 2nd quarter worth about $10,074,000. Cornerstone Wealth Management LLC acquired a new stake in Cerner in the 2nd quarter worth about $968,000. Janney Montgomery Scott LLC boosted its stake in Cerner by 5.2% in the 2nd quarter. Janney Montgomery Scott LLC now owns 28,329 shares of the company’s stock worth $1,694,000 after buying an additional 1,400 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in Cerner by 58.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 187,085 shares of the company’s stock worth $11,186,000 after buying an additional 69,144 shares during the last quarter. Finally, Advisor Partners LLC acquired a new stake in Cerner in the 2nd quarter worth about $204,000. 77.14% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have issued reports on CERN. SunTrust Banks raised their price target on Cerner to $65.00 and gave the stock a “hold” rating in a research note on Monday, August 6th. KeyCorp lifted their price objective on Cerner from $74.00 to $76.00 and gave the company an “overweight” rating in a research note on Monday, August 20th. BidaskClub lowered Cerner from a “hold” rating to a “sell” rating in a research note on Friday, August 31st. Barclays began coverage on Cerner in a research note on Thursday, September 13th. They issued an “equal weight” rating and a $70.00 price objective on the stock. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Cerner in a research note on Wednesday, September 12th. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $69.98.

Shares of NASDAQ:CERN opened at $56.91 on Friday. The stock has a market cap of $18.75 billion, a P/E ratio of 26.23, a P/E/G ratio of 1.86 and a beta of 0.96. 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 Co. has a one year low of $50.91 and a one year high of $73.43.

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

In related news, President Zane M. Burke sold 151,818 shares of the firm’s stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $65.44, for a total transaction of $9,934,969.92. Following the sale, the president now directly owns 37,418 shares in the company, valued at approximately $2,448,633.92. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Zane M. Burke sold 381,139 shares of the firm’s stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $64.05, for a total value of $24,411,952.95. Following the sale, the president now owns 59,539 shares in the company, valued at $3,813,472.95. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,071,496 shares of company stock worth $67,071,136. Company insiders own 4.71% of the company’s stock.

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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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