California State Teachers Retirement System lessened its stake in shares of Cerner Co. (NASDAQ:CERN) by 8.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 485,284 shares of the company’s stock after selling 46,532 shares during the quarter. California State Teachers Retirement System owned 0.15% of Cerner worth $34,610,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of CERN. Andra AP fonden increased its position in shares of Cerner by 45.8% during the second quarter. Andra AP fonden now owns 30,900 shares of the company’s stock worth $2,054,000 after acquiring an additional 9,700 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Cerner by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 697,200 shares of the company’s stock worth $46,342,000 after acquiring an additional 47,812 shares during the last quarter. State Farm Mutual Automobile Insurance Co. increased its position in shares of Cerner by 381.0% during the second quarter. State Farm Mutual Automobile Insurance Co. now owns 429,846 shares of the company’s stock worth $28,572,000 after acquiring an additional 340,486 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Cerner by 2.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 937,175 shares of the company’s stock worth $62,295,000 after acquiring an additional 23,659 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Cerner by 16.1% during the second quarter. Victory Capital Management Inc. now owns 31,298 shares of the company’s stock worth $2,080,000 after acquiring an additional 4,340 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

A number of analysts have recently issued reports on CERN shares. Royal Bank of Canada reaffirmed a “buy” rating on shares of Cerner in a research report on Wednesday, October 25th. SunTrust Banks reaffirmed a “buy” rating and set a $79.00 target price on shares of Cerner in a research report on Thursday, October 19th. Zacks Investment Research raised Cerner from a “hold” rating to a “buy” rating and set a $81.00 target price on the stock in a research report on Tuesday, October 17th. Jefferies Group set a $79.00 price objective on Cerner and gave the company a “buy” rating in a report on Friday, October 13th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $77.00 price objective on shares of Cerner in a report on Thursday, October 12th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $69.50.

In other news, CFO Marc G. Naughton sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $70.64, for a total transaction of $4,238,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Clifford W. Illig sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $65.96, for a total value of $263,840.00. Following the transaction, the chairman now directly owns 1,229,719 shares of the company’s stock, valued at $81,112,265.24. The disclosure for this sale can be found here. Insiders have sold 788,000 shares of company stock valued at $52,190,800 over the last ninety days. Corporate insiders own 13.11% of the company’s stock.

Shares of Cerner Co. (NASDAQ:CERN) opened at $69.42 on Friday. The company has a quick ratio of 2.75, a current ratio of 2.77 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $23,080.00, a PE ratio of 30.34, a P/E/G ratio of 2.21 and a beta of 0.94. Cerner Co. has a fifty-two week low of $47.09 and a fifty-two week high of $73.86.

Cerner (NASDAQ:CERN) last posted its earnings results on Thursday, October 26th. The company reported $0.61 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.01). The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.29 billion. Cerner had a net margin of 13.37% and a return on equity of 18.03%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the company posted $0.59 earnings per share. equities analysts anticipate that Cerner Co. will post 2.25 EPS for the current year.

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Cerner 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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Institutional Ownership by Quarter for Cerner (NASDAQ:CERN)

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