Country Club Trust Company n.a. reduced its stake in Cerner Corporation (NASDAQ:CERN) by 2.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,596 shares of the company’s stock after selling 479 shares during the period. Country Club Trust Company n.a.’s holdings in Cerner Corporation were worth $1,236,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Johnson Financial Group Inc. raised its position in shares of Cerner Corporation by 2.6% in the first quarter. Johnson Financial Group Inc. now owns 1,870 shares of the company’s stock valued at $110,000 after buying an additional 47 shares during the period. Alpha Windward LLC raised its position in shares of Cerner Corporation by 6.1% in the first quarter. Alpha Windward LLC now owns 2,594 shares of the company’s stock valued at $153,000 after buying an additional 148 shares during the period. Archford Capital Strategies LLC raised its position in shares of Cerner Corporation by 93.8% in the first quarter. Archford Capital Strategies LLC now owns 2,599 shares of the company’s stock valued at $153,000 after buying an additional 1,258 shares during the period. Fox Run Management L.L.C. bought a new position in shares of Cerner Corporation during the first quarter valued at approximately $200,000. Finally, National Asset Management Inc. bought a new position in shares of Cerner Corporation during the first quarter valued at approximately $201,000. Institutional investors and hedge funds own 82.77% of the company’s stock.
Shares of Cerner Corporation (NASDAQ CERN) traded down 0.61% during midday trading on Monday, reaching $65.34. 2,626,666 shares of the company traded hands. The firm has a market capitalization of $21.59 billion, a PE ratio of 33.68 and a beta of 0.96. The stock has a 50 day moving average price of $66.03 and a 200 day moving average price of $57.87. Cerner Corporation has a 1-year low of $47.01 and a 1-year high of $69.28.
Cerner Corporation (NASDAQ:CERN) last issued its earnings results on Thursday, April 27th. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.06. Cerner Corporation had a return on equity of 18.36% and a net margin of 13.40%. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period last year, the company earned $0.53 EPS. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. Analysts expect that Cerner Corporation will post $2.51 earnings per share for the current fiscal year.
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Several research analysts recently issued reports on the stock. Jefferies Group LLC set a $74.00 price target on shares of Cerner Corporation and gave the stock a “buy” rating in a research note on Sunday, April 30th. BidaskClub lowered shares of Cerner Corporation from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 15th. William Blair reiterated an “outperform” rating on shares of Cerner Corporation in a research note on Monday. Canaccord Genuity reiterated a “buy” rating and issued a $66.00 price target on shares of Cerner Corporation in a research note on Friday, June 2nd. Finally, Zacks Investment Research upgraded shares of Cerner Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, April 18th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $64.69.
In related news, VP Michael R. Battaglioli sold 4,000 shares of the firm’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $65.55, for a total transaction of $262,200.00. Following the completion of the transaction, the vice president now directly owns 4,000 shares in the company, valued at approximately $262,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Neal L. Patterson sold 180,667 shares of the firm’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $64.71, for a total value of $11,690,961.57. The disclosure for this sale can be found here. Insiders sold a total of 704,542 shares of company stock valued at $45,885,490 over the last ninety days. Corporate insiders own 13.20% of the company’s stock.
About Cerner Corporation
Cerner Corporation (Cerner) is a supplier of healthcare information technology (HCIT). The Company offers a range of intelligent solutions and services that support the clinical, financial and operational needs of organizations of all sizes. The Company’s segments include Domestic and Global. The Domestic segment includes revenue contributions and expenditures associated with business activity in the United States.
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