Webster Bank N. A. Sells 327 Shares of Cerner Corporation (NASDAQ:CERN)
Webster Bank N. A. decreased its position in Cerner Corporation (NASDAQ:CERN) by 1.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,205 shares of the company’s stock after selling 327 shares during the period. Webster Bank N. A.’s holdings in Cerner Corporation were worth $2,074,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of CERN. Johnson Financial Group Inc. raised its stake in Cerner Corporation by 2.6% in the first quarter. Johnson Financial Group Inc. now owns 1,870 shares of the company’s stock worth $110,000 after buying an additional 47 shares in the last quarter. Alpha Windward LLC raised its position in 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 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. acquired a new position in Cerner Corporation during the first quarter valued at approximately $200,000. Finally, Brookstone Capital Management acquired a new position in Cerner Corporation during the first quarter valued at approximately $201,000. 81.78% of the stock is currently owned by institutional investors and hedge funds.
Cerner Corporation (CERN) opened at 63.08 on Monday. The stock has a market capitalization of $20.92 billion, a PE ratio of 31.87 and a beta of 0.95. Cerner Corporation has a 52 week low of $47.01 and a 52 week high of $69.28. The stock’s 50 day moving average is $65.92 and its 200-day moving average is $60.63.
Cerner Corporation (NASDAQ:CERN) last issued its earnings results on Thursday, July 27th. The company reported $0.56 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.57 by $0.01. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.30 billion. Cerner Corporation had a return on equity of 18.18% and a net margin of 13.47%. Cerner Corporation’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.58 earnings per share. Equities research analysts forecast that Cerner Corporation will post $2.50 EPS for the current year.
Cerner Corporation announced that its Board of Directors has initiated a share buyback plan on Thursday, May 25th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to reacquire up to 2.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
Several equities analysts recently commented on CERN shares. Zacks Investment Research raised Cerner Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, April 18th. Cantor Fitzgerald reissued a “buy” rating and issued a $68.00 target price (up previously from $66.00) on shares of Cerner Corporation in a report on Thursday, April 27th. UBS AG upped their price objective on shares of Cerner Corporation from $60.00 to $64.00 and gave the company a “buy” rating in a research note on Friday, April 28th. Leerink Swann set a $65.00 price objective on shares of Cerner Corporation and gave the company a “hold” rating in a research note on Friday, April 28th. Finally, Barclays PLC restated a “hold” rating and issued a $60.00 price objective on shares of Cerner Corporation in a research note on Monday, May 1st. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $64.94.
In other Cerner Corporation news, Vice Chairman Clifford W. Illig sold 234,525 shares of Cerner Corporation stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $64.43, for a total transaction of $15,110,445.75. Following the completion of the transaction, the insider now directly owns 1,229,719 shares of the company’s stock, valued at $79,230,795.17. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Marc G. Naughton sold 60,000 shares of Cerner Corporation stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $68.63, for a total transaction of $4,117,800.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 408,325 shares of company stock valued at $26,802,424. Company 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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