Cerner Co. (CERN) Shares Bought by Brown Capital Management LLC
Brown Capital Management LLC raised its stake in Cerner Co. (NASDAQ:CERN) by 16.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 107,805 shares of the company’s stock after buying an additional 14,840 shares during the period. Brown Capital Management LLC’s holdings in Cerner were worth $6,344,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in CERN. Fiduciary Management Inc. WI acquired a new stake in Cerner during the fourth quarter valued at approximately $239,174,000. Bank of New York Mellon Corp increased its stake in Cerner by 29.9% in the first quarter. Bank of New York Mellon Corp now owns 14,745,663 shares of the company’s stock valued at $867,783,000 after buying an additional 3,391,745 shares during the last quarter. Norges Bank acquired a new stake in Cerner during the fourth quarter valued at approximately $112,815,000. Russell Investments Group Ltd. acquired a new stake in Cerner during the fourth quarter valued at approximately $51,211,000. Finally, Canada Pension Plan Investment Board increased its stake in Cerner by 473.8% in the first quarter. Canada Pension Plan Investment Board now owns 1,076,084 shares of the company’s stock valued at $63,328,000 after buying an additional 888,537 shares during the last quarter. Institutional investors own 80.58% of the company’s stock.
Cerner Co. (NASDAQ:CERN) traded down 0.23% on Monday, reaching $64.95. The company had a trading volume of 1,643,604 shares. The stock’s 50 day moving average is $62.33 and its 200-day moving average is $54.94. The stock has a market capitalization of $21.46 billion, a P/E ratio of 33.48 and a beta of 1.05. Cerner Co. has a 1-year low of $47.01 and a 1-year high of $67.50.
Cerner (NASDAQ:CERN) last posted its earnings results on Thursday, April 27th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.53 by $0.06. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.23 billion. Cerner had a return on equity of 18.16% and a net margin of 13.27%. Cerner’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period last year, the company earned $0.53 earnings per share. On average, equities analysts predict that Cerner Co. will post $2.51 EPS for the current fiscal year.
CERN has been the subject of several research analyst reports. Cantor Fitzgerald reiterated a “buy” rating and issued a $68.00 price objective (up from $66.00) on shares of Cerner in a report on Thursday, April 27th. Barclays PLC reduced their price objective on Cerner to $50.00 and set a “hold” rating for the company in a report on Friday, February 10th. Zacks Investment Research upgraded Cerner from a “sell” rating to a “hold” rating in a report on Monday, March 27th. Canaccord Genuity reiterated a “buy” rating and issued a $59.00 price objective on shares of Cerner in a report on Friday, February 10th. Finally, Citigroup Inc downgraded Cerner from a “buy” rating to a “neutral” rating in a report on Friday, February 24th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and nine have assigned a buy rating to the stock. Cerner presently has a consensus rating of “Hold” and an average target price of $64.33.
In other Cerner news, Chairman Neal L. Patterson sold 20,000 shares of the stock in a transaction that occurred on Tuesday, March 14th. The stock was sold at an average price of $54.91, for a total transaction of $1,098,200.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Linda M. Dillman sold 4,600 shares of the stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $64.69, for a total value of $297,574.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 598,342 shares of company stock worth $38,355,476. 13.20% of the stock is owned by corporate insiders.
Cerner Company Profile
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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