State Street Corp Has $1.05 Billion Holdings in Cerner Co. (NASDAQ:CERN)

State Street Corp cut its holdings in Cerner Co. (NASDAQ:CERN) by 2.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 14,506,613 shares of the company’s stock after selling 420,355 shares during the quarter. State Street Corp’s holdings in Cerner were worth $1,051,253,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. lifted its position in Cerner by 4.0% during the third quarter. BlackRock Inc. now owns 24,859,804 shares of the company’s stock worth $1,797,114,000 after purchasing an additional 959,533 shares during the period. Bank of New York Mellon Corp lifted its position in Cerner by 1.3% during the second quarter. Bank of New York Mellon Corp now owns 14,691,468 shares of the company’s stock worth $1,007,099,000 after purchasing an additional 188,613 shares during the period. Morgan Stanley lifted its position in Cerner by 31.2% during the first quarter. Morgan Stanley now owns 2,868,059 shares of the company’s stock worth $180,660,000 after purchasing an additional 682,655 shares during the period. Veritas Investment Management LLP lifted its position in Cerner by 5.6% during the third quarter. Veritas Investment Management LLP now owns 1,737,900 shares of the company’s stock worth $125,589,000 after purchasing an additional 92,570 shares during the period. Finally, California Public Employees Retirement System lifted its position in Cerner by 2.3% during the third quarter. California Public Employees Retirement System now owns 1,682,306 shares of the company’s stock worth $121,614,000 after purchasing an additional 38,028 shares during the period. Institutional investors and hedge funds own 72.19% of the company’s stock.

Several equities research analysts recently weighed in on CERN shares. Zacks Investment Research cut shares of Cerner from a “buy” rating to a “hold” rating and set a $72.00 price objective for the company. in a research report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Cerner from $77.00 to $79.00 and gave the stock a “buy” rating in a report on Thursday, October 29th. Wells Fargo & Company increased their target price on shares of Cerner from $81.00 to $82.00 and gave the stock an “overweight” rating in a report on Thursday, October 29th. Royal Bank of Canada reissued a “buy” rating and issued a $80.00 target price on shares of Cerner in a report on Thursday, July 30th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $88.00 target price on shares of Cerner in a report on Tuesday, August 11th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the stock. Cerner currently has a consensus rating of “Hold” and a consensus target price of $77.33.

Shares of NASDAQ CERN opened at $73.25 on Friday. The company has a 50 day simple moving average of $72.89 and a 200 day simple moving average of $70.97. The firm has a market cap of $22.46 billion, a PE ratio of 28.61, a price-to-earnings-growth ratio of 2.80 and a beta of 0.76. Cerner Co. has a 1 year low of $53.08 and a 1 year high of $80.90. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.29 and a quick ratio of 2.28.

Cerner (NASDAQ:CERN) last released its earnings results on Wednesday, October 28th. The company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.10. Cerner had a net margin of 14.28% and a return on equity of 18.14%. As a group, research analysts anticipate that Cerner Co. will post 2.47 earnings per share for the current fiscal year.

In other Cerner news, EVP John Peterzalek sold 1,100 shares of the stock in a transaction that occurred on Monday, November 16th. The shares were sold at an average price of $76.04, for a total transaction of $83,644.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director George Andrew Riedel sold 1,750 shares of the stock in a transaction that occurred on Monday, November 16th. The shares were sold at an average price of $75.69, for a total transaction of $132,457.50. The disclosure for this sale can be found here. Insiders have sold a total of 66,486 shares of company stock valued at $5,047,431 in the last three months. Insiders own 0.33% of the company’s stock.

Cerner Company Profile

Cerner Corporation, together with its subsidiaries, 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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Institutional Ownership by Quarter for Cerner (NASDAQ:CERN)

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