Atlanta Capital Management Co. L L C lowered its position in shares of Cerner Corporation (NASDAQ:CERN) by 3.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 610,100 shares of the company’s stock after selling 24,961 shares during the period. Atlanta Capital Management Co. L L C owned about 0.18% of Cerner Corporation worth $40,554,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of CERN. BlackRock Inc. lifted its holdings in Cerner Corporation by 3,008.5% during the 1st quarter. BlackRock Inc. now owns 18,298,722 shares of the company’s stock worth $1,076,881,000 after buying an additional 17,710,062 shares during the period. UBS Group AG lifted its holdings in Cerner Corporation by 1,843.1% during the 1st quarter. UBS Group AG now owns 5,306,053 shares of the company’s stock worth $312,261,000 after buying an additional 5,032,976 shares during the period. Fiduciary Management Inc. WI lifted its holdings in Cerner Corporation by 63.2% during the 1st quarter. Fiduciary Management Inc. WI now owns 8,241,408 shares of the company’s stock worth $485,007,000 after buying an additional 3,192,338 shares during the period. Veritas Asset Management LLP acquired a new position in Cerner Corporation during the 1st quarter worth about $186,725,000. Finally, FMR LLC lifted its holdings in Cerner Corporation by 105.5% during the 1st quarter. FMR LLC now owns 5,609,410 shares of the company’s stock worth $330,113,000 after buying an additional 2,879,319 shares during the period. Institutional investors and hedge funds own 78.94% of the company’s stock.
In other Cerner Corporation news, Chairman Clifford W. Illig sold 118,113 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chairman now directly owns 1,229,719 shares in the company, valued at $76,279,469.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 transaction of $4,081,800.00. Following the completion of the sale, the senior vice president now 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 sold 371,583 shares of company stock valued at $24,758,191 over the last 90 days. 13.20% of the stock is currently owned by company insiders.
CERN has been the topic of several recent research reports. Canaccord Genuity reaffirmed a “buy” rating and set a $69.00 target price on shares of Cerner Corporation in a report on Wednesday, September 6th. BidaskClub raised Cerner Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. Robert W. Baird reaffirmed a “hold” rating and set a $67.00 target price on shares of Cerner Corporation in a report on Thursday, August 31st. William Blair reaffirmed an “outperform” rating on shares of Cerner Corporation in a report on Monday, July 10th. Finally, KeyCorp reaffirmed a “buy” rating and set a $76.00 target price on shares of Cerner Corporation in a report on Friday, September 22nd. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Cerner Corporation presently has an average rating of “Hold” and an average target price of $67.00.
Cerner Corporation (CERN) traded up 0.10% on Tuesday, reaching $71.51. The company had a trading volume of 530,499 shares. The firm has a market capitalization of $23.71 billion, a price-to-earnings ratio of 36.13 and a beta of 0.95. The company’s 50 day moving average is $69.07 and its 200-day moving average is $65.14. Cerner Corporation has a one year low of $47.01 and a one year high of $72.82.
Cerner Corporation (NASDAQ:CERN) last issued its quarterly earnings data on Thursday, July 27th. The company reported $0.56 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.01). Cerner Corporation had a return on equity of 18.18% and a net margin of 13.47%. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter last year, the business earned $0.58 earnings per share. The business’s quarterly revenue was up 6.3% on a year-over-year basis. On average, equities research analysts expect that Cerner Corporation will post $2.50 earnings per share for the current fiscal year.
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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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