California Public Employees Retirement System Has $43.60 Million Stake in Cerner Co. (CERN)

California Public Employees Retirement System lifted its position in Cerner Co. (NASDAQ:CERN) by 6.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 646,905 shares of the company’s stock after buying an additional 37,519 shares during the quarter. California Public Employees Retirement System’s holdings in Cerner were worth $43,595,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of CERN. Advisory Services Network LLC grew its position in shares of Cerner by 4.4% in the 2nd quarter. Advisory Services Network LLC now owns 1,648 shares of the company’s stock worth $110,000 after buying an additional 70 shares during the last quarter. Fuller & Thaler Asset Management Inc. purchased a new stake in Cerner during the 3rd quarter worth approximately $121,000. Cerebellum GP LLC purchased a new stake in Cerner during the 4th quarter worth approximately $127,000. Steward Partners Investment Advisory LLC purchased a new stake in Cerner during the 3rd quarter worth approximately $128,000. Finally, Fort Pitt Capital Group LLC purchased a new stake in Cerner during the 3rd quarter worth approximately $205,000. 81.58% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Cerner Co. (NASDAQ CERN) opened at $62.22 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.99 and a current ratio of 3.01. Cerner Co. has a 12 month low of $54.01 and a 12 month high of $73.86. The company has a market cap of $20,784.01, a P/E ratio of 28.15, a price-to-earnings-growth ratio of 1.87 and a beta of 0.90.

Cerner (NASDAQ:CERN) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.58 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.03). Cerner had a net margin of 16.86% and a return on equity of 16.82%. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the previous year, the firm posted $0.61 earnings per share. The business’s revenue was up 4.5% on a year-over-year basis. equities research analysts predict that Cerner Co. will post 2.42 earnings per share for the current year.

In related news, CFO Marc G. Naughton sold 60,000 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $70.64, for a total value of $4,238,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Clifford W. Illig sold 530,000 shares of the business’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $65.54, for a total transaction of $34,736,200.00. Following the completion of the transaction, the chairman now owns 1,229,719 shares of the company’s stock, valued at $80,595,783.26. The disclosure for this sale can be found here. Over the last quarter, insiders sold 648,100 shares of company stock valued at $43,009,016. Company insiders own 13.11% of the company’s stock.

Several analysts have weighed in on CERN shares. Zacks Investment Research downgraded shares of Cerner from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. SunTrust Banks reissued a “buy” rating and set a $79.00 target price on shares of Cerner in a research report on Thursday, October 19th. Evercore ISI started coverage on shares of Cerner in a research report on Thursday, January 18th. They set an “in-line” rating and a $77.00 target price on the stock. BidaskClub downgraded shares of Cerner from a “hold” rating to a “sell” rating in a research report on Wednesday, January 24th. Finally, Robert W. Baird raised shares of Cerner from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $67.00 to $76.00 in a research report on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $67.05.

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About Cerner

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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