Scott & Selber Inc. Purchases 2,039 Shares of Cerner Co. (NASDAQ:CERN)

Scott & Selber Inc. boosted its position in shares of Cerner Co. (NASDAQ:CERN) by 6.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,300 shares of the company’s stock after purchasing an additional 2,039 shares during the period. Scott & Selber Inc.’s holdings in Cerner were worth $2,441,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. BlackRock Inc. boosted its position in Cerner by 8.4% in the 1st quarter. BlackRock Inc. now owns 23,927,386 shares of the company’s stock valued at $1,368,887,000 after buying an additional 1,848,617 shares during the period. Parnassus Investments CA boosted its position in Cerner by 15.6% in the 1st quarter. Parnassus Investments CA now owns 11,361,322 shares of the company’s stock valued at $649,981,000 after buying an additional 1,531,499 shares during the period. Geode Capital Management LLC boosted its position in Cerner by 7.8% in the 4th quarter. Geode Capital Management LLC now owns 4,747,793 shares of the company’s stock valued at $248,593,000 after buying an additional 342,029 shares during the period. American Century Companies Inc. boosted its position in Cerner by 8.6% in the 1st quarter. American Century Companies Inc. now owns 3,564,183 shares of the company’s stock valued at $203,907,000 after buying an additional 281,156 shares during the period. Finally, MERIAN GLOBAL INVESTORS UK Ltd boosted its position in Cerner by 25.7% in the 1st quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 3,324,449 shares of the company’s stock valued at $190,191,000 after buying an additional 680,664 shares during the period. Institutional investors own 82.59% of the company’s stock.

Shares of NASDAQ CERN traded up $0.69 during trading hours on Tuesday, hitting $70.93. 68,109 shares of the stock were exchanged, compared to its average volume of 2,385,986. 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 firm has a market capitalization of $22.74 billion, a P/E ratio of 32.10, a PEG ratio of 2.04 and a beta of 0.92. The firm’s fifty day simple moving average is $73.08. Cerner Co. has a 12 month low of $48.78 and a 12 month high of $76.47.

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

The business also recently declared a special dividend, which was paid on Friday, July 26th. Shareholders of record on Tuesday, June 18th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, June 17th. Cerner’s payout ratio is 32.58%.

In other Cerner news, EVP Randy D. Sims sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $72.45, for a total transaction of $2,898,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Randy D. Sims sold 48,000 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $69.27, for a total transaction of $3,324,960.00. The disclosure for this sale can be found here. Insiders have sold a total of 441,468 shares of company stock worth $30,777,997 in the last 90 days. 0.75% of the stock is currently owned by company insiders.

Several brokerages have recently weighed in on CERN. Canaccord Genuity upped their price target on shares of Cerner from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Zacks Investment Research cut shares of Cerner from a “buy” rating to a “hold” rating and set a $77.00 price target for the company. in a research report on Monday, July 29th. Bank of America upped their price target on shares of Cerner from $70.00 to $77.00 and gave the stock a “buy” rating in a research report on Tuesday, May 21st. Cantor Fitzgerald upped their price target on shares of Cerner from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Monday, July 8th. Finally, Wells Fargo & Co upped their price target on shares of Cerner from $72.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Two research 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 company has an average rating of “Buy” and an average target price of $73.36.

About Cerner

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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