Cerner Corporation (CERN) Position Lowered by Security National Trust Co.
Security National Trust Co. lowered its position in shares of Cerner Corporation (NASDAQ:CERN) by 63.7% during the second quarter, according to its most recent filing with the SEC. The fund owned 1,826 shares of the company’s stock after selling 3,203 shares during the period. Security National Trust Co.’s holdings in Cerner Corporation were worth $121,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the stock. Johnson Financial Group Inc. boosted 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 during the period. Archford Capital Strategies LLC boosted its stake in Cerner Corporation by 93.8% in the first quarter. Archford Capital Strategies LLC now owns 2,599 shares of the company’s stock worth $153,000 after buying an additional 1,258 shares during the period. Wellington Shields & Co. LLC acquired a new stake in Cerner Corporation during the second quarter worth $213,000. Fox Run Management L.L.C. acquired a new stake in Cerner Corporation during the first quarter worth $200,000. Finally, National Asset Management Inc. acquired a new stake in Cerner Corporation during the first quarter worth $201,000. 82.34% of the stock is currently owned by institutional investors.
Cerner Corporation (NASDAQ CERN) opened at 64.25 on Monday. The firm has a market cap of $21.30 billion, a price-to-earnings ratio of 32.47 and a beta of 0.95. The firm has a 50-day moving average of $64.58 and a 200 day moving average of $61.47. Cerner Corporation has a 52-week low of $47.01 and a 52-week high of $69.28.
Cerner Corporation (NASDAQ:CERN) last released its earnings results on Thursday, July 27th. The company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by $0.01. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.30 billion. Cerner Corporation had a net margin of 13.47% and a return on equity of 18.18%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period last year, the business posted $0.58 EPS. On average, equities research analysts forecast that Cerner Corporation will post $2.50 earnings per share for the current year.
Cerner Corporation declared that its Board of Directors has approved a share repurchase plan on Thursday, May 25th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to buy up to 2.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
A number of research firms have recently weighed in on CERN. UBS AG reaffirmed a “neutral” rating and set a $69.00 price target (up previously from $64.00) on shares of Cerner Corporation in a report on Tuesday, June 6th. Jefferies Group LLC set a $74.00 price target on Cerner Corporation and gave the company a “buy” rating in a report on Sunday, April 30th. BidaskClub raised Cerner Corporation from a “sell” rating to a “hold” rating in a report on Saturday. Morgan Stanley raised Cerner Corporation from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $59.00 to $62.00 in a report on Thursday, August 10th. Finally, Zacks Investment Research cut Cerner Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Sixteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Cerner Corporation has an average rating of “Hold” and an average target price of $65.84.
In related news, Director Gerald E. Bisbee, Jr. sold 6,200 shares of the firm’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $67.97, for a total value of $421,414.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Marc G. Naughton sold 60,000 shares of the firm’s stock in a transaction on Tuesday, June 6th. The shares were 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. In the last ninety days, insiders sold 244,313 shares of company stock valued at $15,954,763. 13.20% of the stock is owned by insiders.
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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