World Asset Management Inc Grows Stock Holdings in Cerner Co. (NASDAQ:CERN)

World Asset Management Inc lifted its position in shares of Cerner Co. (NASDAQ:CERN) by 11.7% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 23,620 shares of the company’s stock after buying an additional 2,483 shares during the quarter. World Asset Management Inc’s holdings in Cerner were worth $1,731,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nelson Roberts Investment Advisors LLC purchased a new position in shares of Cerner during the 1st quarter valued at $25,000. Moody National Bank Trust Division increased its holdings in Cerner by 72.5% in the 1st quarter. Moody National Bank Trust Division now owns 483 shares of the company’s stock valued at $28,000 after acquiring an additional 203 shares during the last quarter. Advisory Alpha LLC bought a new stake in Cerner in the 1st quarter valued at $28,000. Creative Financial Designs Inc. ADV increased its holdings in Cerner by 303.4% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 710 shares of the company’s stock valued at $41,000 after acquiring an additional 534 shares during the last quarter. Finally, Valeo Financial Advisors LLC bought a new stake in Cerner in the 2nd quarter valued at $49,000. Institutional investors own 81.47% of the company’s stock.

In related news, EVP Randy D. Sims sold 40,000 shares of Cerner stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $72.45, for a total transaction of $2,898,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Michael Nill sold 244,000 shares of Cerner stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $69.42, for a total transaction of $16,938,480.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 441,468 shares of company stock worth $30,777,997. Insiders own 0.75% of the company’s stock.

Shares of Cerner stock traded down $1.47 during trading hours on Wednesday, reaching $72.12. The company’s stock had a trading volume of 1,384,772 shares, compared to its average volume of 2,079,893. The business’s 50 day simple moving average is $73.29. Cerner Co. has a one year low of $48.78 and a one year high of $76.47. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.50 and a current ratio of 2.52. The stock has a market cap of $23.79 billion, a PE ratio of 32.63, a P/E/G ratio of 2.09 and a beta of 0.89.

Cerner (NASDAQ:CERN) last posted its earnings results on Wednesday, July 24th. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. Cerner had a net margin of 10.75% and a return on equity of 15.14%. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the previous year, the firm posted $0.62 EPS. The business’s quarterly revenue was up 4.6% on a year-over-year basis. Research analysts anticipate that Cerner Co. will post 2.43 earnings per share for the current fiscal year.

The firm also recently announced a special dividend, which was paid on Friday, July 26th. Stockholders of record on Tuesday, June 18th were issued a $0.18 dividend. The ex-dividend date of this dividend was Monday, June 17th. Cerner’s dividend payout ratio (DPR) is presently 32.58%.

CERN has been the topic of a number of research reports. Citigroup lifted their price target on shares of Cerner from $77.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Zacks Investment Research downgraded shares of Cerner from a “buy” rating to a “hold” rating and set a $77.00 price target on the stock. in a report on Monday. ValuEngine upgraded shares of Cerner from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Wells Fargo & Co lifted their price target on shares of Cerner from $72.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Cantor Fitzgerald lifted their price target on shares of Cerner from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Monday, July 8th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $73.36.

Cerner Profile

Cerner Corporation provides health care information technology solutions and tech-enabled 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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