Cetera Investment Advisers Invests $1.42 Million in Cerner Corporation (CERN) Stock
Cetera Investment Advisers purchased a new stake in shares of Cerner Corporation (NASDAQ:CERN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 21,385 shares of the company’s stock, valued at approximately $1,420,000.
A number of other large investors have also recently modified their holdings of the business. Advisory Services Network LLC lifted its holdings in Cerner Corporation by 4.4% during the second quarter. Advisory Services Network LLC now owns 1,648 shares of the company’s stock valued at $110,000 after purchasing an additional 70 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Cerner Corporation during the second quarter valued at approximately $880,000. Tandem Investment Advisors Inc. lifted its holdings in Cerner Corporation by 4.8% during the second quarter. Tandem Investment Advisors Inc. now owns 19,434 shares of the company’s stock valued at $1,292,000 after purchasing an additional 883 shares in the last quarter. WINTON GROUP Ltd purchased a new position in Cerner Corporation during the second quarter valued at approximately $688,000. Finally, Covington Capital Management lifted its holdings in Cerner Corporation by 1.1% during the second quarter. Covington Capital Management now owns 119,674 shares of the company’s stock valued at $7,955,000 after purchasing an additional 1,275 shares in the last quarter. 78.94% of the stock is currently owned by institutional investors and hedge funds.
Shares of Cerner Corporation (CERN) traded down 1.570% during mid-day trading on Monday, hitting $72.415. 396,496 shares of the stock were exchanged. Cerner Corporation has a 12 month low of $47.01 and a 12 month high of $73.86. The stock has a market cap of $24.01 billion, a price-to-earnings ratio of 36.592 and a beta of 0.95. The company has a 50-day moving average price of $70.01 and a 200-day moving average price of $65.53.
Cerner Corporation (NASDAQ:CERN) last issued 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). The business 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%. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.58 earnings per share. Equities analysts expect that Cerner Corporation will post $2.50 earnings per share for the current year.
In related news, President Zane M. Burke sold 94,000 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $67.47, for a total transaction of $6,342,180.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Randy D. Sims sold 60,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $68.03, for a total value of $4,081,800.00. Following the sale, the senior vice president now directly owns 60,890 shares of the company’s stock, valued at $4,142,346.70. The disclosure for this sale can be found here. Insiders have sold a total of 371,583 shares of company stock valued at $24,758,191 over the last three months. Corporate insiders own 13.20% of the company’s stock.
Several equities analysts have weighed in on the stock. Jefferies Group LLC set a $79.00 price target on shares of Cerner Corporation and gave the company a “buy” rating in a report on Friday. Piper Jaffray Companies reiterated a “buy” rating and set a $77.00 price objective on shares of Cerner Corporation in a research report on Thursday. Cantor Fitzgerald reiterated a “buy” rating and set a $77.00 price objective on shares of Cerner Corporation in a research report on Tuesday, October 10th. Zacks Investment Research cut shares of Cerner Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, September 26th. Finally, KeyCorp reiterated a “buy” rating and set a $76.00 price objective on shares of Cerner Corporation in a research report on Friday, September 22nd. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Cerner Corporation presently has a consensus rating of “Hold” and a consensus target price of $67.83.
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.
Want to see what other hedge funds are holding CERN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cerner Corporation (NASDAQ:CERN).
Receive News & Stock Ratings for Cerner Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cerner Corporation and related stocks with our FREE daily email newsletter.