Cerner Corporation (CERN) Position Trimmed by People s United Financial Inc.
People s United Financial Inc. lessened its holdings in shares of Cerner Corporation (NASDAQ:CERN) by 19.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,695 shares of the company’s stock after selling 400 shares during the period. People s United Financial Inc.’s holdings in Cerner Corporation were worth $113,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in CERN. Alps Advisors Inc. boosted its position in Cerner Corporation by 0.3% during the second quarter. Alps Advisors Inc. now owns 8,693 shares of the company’s stock worth $578,000 after purchasing an additional 23 shares in the last quarter. Johnson Financial Group Inc. lifted 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 acquiring an additional 47 shares in the last quarter. Conning Inc. lifted its position in shares of Cerner Corporation by 0.8% in the second quarter. Conning Inc. now owns 7,742 shares of the company’s stock valued at $515,000 after acquiring an additional 58 shares in the last quarter. ProVise Management Group LLC lifted its position in shares of Cerner Corporation by 1.3% in the second quarter. ProVise Management Group LLC now owns 5,184 shares of the company’s stock valued at $345,000 after acquiring an additional 69 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Cerner Corporation by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,842 shares of the company’s stock valued at $1,452,000 after acquiring an additional 74 shares in the last quarter. 78.94% of the stock is currently owned by hedge funds and other institutional investors.
CERN has been the topic of several recent analyst reports. Zacks Investment Research downgraded Cerner Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, September 26th. KeyCorp restated a “buy” rating and set a $76.00 price target on shares of Cerner Corporation in a research note on Friday, September 22nd. Royal Bank Of Canada began coverage on Cerner Corporation in a research note on Tuesday, September 19th. They set a “top pick” rating and a $84.00 price target for the company. Robert W. Baird reiterated a “hold” rating and issued a $67.00 target price on shares of Cerner Corporation in a research note on Thursday, August 31st. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $69.00 target price on shares of Cerner Corporation in a research note on Wednesday, September 6th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $67.00.
In related news, Chairman Clifford W. Illig sold 118,113 shares of the business’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $62.03, for a total value of $7,326,549.39. Following the transaction, the chairman now owns 1,229,719 shares in the company, valued at $76,279,469.57. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Randy D. Sims sold 60,000 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $68.03, for a total transaction of $4,081,800.00. Following the completion of the transaction, the senior vice president now owns 60,890 shares in the company, valued at approximately $4,142,346.70. The disclosure for this sale can be found here. Insiders sold 371,583 shares of company stock worth $24,758,191 in the last 90 days. Company insiders own 13.20% of the company’s stock.
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Shares of Cerner Corporation (NASDAQ CERN) opened at 71.44 on Tuesday. The firm’s 50-day moving average price is $69.07 and its 200-day moving average price is $65.14. Cerner Corporation has a 12-month low of $47.01 and a 12-month high of $72.82. The firm has a market capitalization of $23.69 billion, a P/E ratio of 36.10 and a beta of 0.95.
Cerner Corporation (NASDAQ:CERN) last announced its quarterly earnings data on Thursday, July 27th. The company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). Cerner Corporation had a net margin of 13.47% and a return on equity of 18.18%. The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period last year, the business earned $0.58 earnings per share. The business’s revenue was up 6.3% compared to the same quarter last year. Equities analysts predict that Cerner Corporation will post $2.50 earnings per share for the current fiscal year.
Cerner Corporation 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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