Stephens Investment Management Group LLC boosted its position in shares of Cerner Co. (NASDAQ:CERN) by 1.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 532,389 shares of the company’s stock after acquiring an additional 6,285 shares during the period. Stephens Investment Management Group LLC owned 0.17% of Cerner worth $39,024,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its position in shares of Cerner by 25.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,502,329 shares of the company’s stock valued at $78,781,000 after acquiring an additional 307,694 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Cerner by 7.8% during the 4th quarter. Geode Capital Management LLC now owns 4,747,793 shares of the company’s stock valued at $248,593,000 after acquiring an additional 342,029 shares during the last quarter. Raymond James Trust N.A. bought a new stake in shares of Cerner during the 1st quarter valued at $297,000. Pennsylvania Trust Co bought a new stake in shares of Cerner during the 1st quarter valued at $1,651,000. Finally, BTIM Corp. raised its position in shares of Cerner by 53.5% during the 1st quarter. BTIM Corp. now owns 101,100 shares of the company’s stock valued at $5,783,000 after acquiring an additional 35,250 shares during the last quarter. Institutional investors own 82.59% of the company’s stock.
Several analysts have commented on CERN shares. Zacks Investment Research cut shares of Cerner from a “buy” rating to a “hold” rating and set a $77.00 target price for the company. in a research report on Monday, July 29th. Canaccord Genuity upped their target price on shares of Cerner from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. ValuEngine upgraded shares of Cerner from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Wells Fargo & Co upped their target price on shares of Cerner from $72.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, Piper Jaffray Companies upped their target price on shares of Cerner from $74.00 to $80.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company’s stock. Cerner currently has an average rating of “Buy” and a consensus target price of $73.36.
Shares of CERN stock traded up $0.47 on Thursday, hitting $69.89. The stock had a trading volume of 27,635 shares, compared to its average volume of 2,410,672. Cerner Co. has a twelve month low of $48.78 and a twelve month high of $76.47. The firm has a market cap of $22.36 billion, a price-to-earnings ratio of 31.50, a P/E/G ratio of 2.01 and a beta of 0.92. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.50 and a current ratio of 2.52. The company has a fifty day simple moving average of $73.01.
Cerner (NASDAQ:CERN) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.02. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.44 billion. Cerner had a net margin of 10.75% and a return on equity of 15.14%. The firm’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.62 EPS. Research analysts expect that Cerner Co. will post 2.43 earnings per share for the current year.
The business also recently announced a special dividend, which was paid on Friday, July 26th. Investors of record on Tuesday, June 18th were paid a $0.18 dividend. The ex-dividend date of this dividend was Monday, June 17th. Cerner’s payout ratio is presently 32.58%.
In related news, EVP Julie M. Wilson sold 93,500 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $69.57, for a total value of $6,504,795.00. Following the completion of the transaction, the executive vice president now directly owns 45,510 shares of the company’s stock, valued at approximately $3,166,130.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Michael Nill sold 244,000 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $69.42, for a total transaction of $16,938,480.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 383,000 shares of company stock valued at $26,729,803. Company insiders own 0.75% of the company’s stock.
Cerner Corporation provides health care information technology solutions and tech-enabled services in the United States and internationally. The company offers Cerner Millennium architecture, a person-centric computing framework, which includes clinical, financial, and management information systems that allow providers to access an individual's electronic health record (EHR) at the point of care, and organizes and delivers information for physicians, nurses, laboratory technicians, pharmacists, front- and back-office professionals, and consumers.
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