Whittier Trust Co. increased its stake in Cerner Corp. (NASDAQ:CERN) by 1.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 88,826 shares of the company’s stock after buying an additional 1,671 shares during the period. Whittier Trust Co.’s holdings in Cerner Corp. were worth $5,204,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in CERN. Glenmede Trust Co. NA increased its stake in shares of Cerner Corp. by 81.5% in the first quarter. Glenmede Trust Co. NA now owns 7,228 shares of the company’s stock valued at $382,000 after buying an additional 3,245 shares during the last quarter. CIBC World Markets Inc. increased its stake in shares of Cerner Corp. by 52.3% in the first quarter. CIBC World Markets Inc. now owns 10,000 shares of the company’s stock valued at $530,000 after buying an additional 3,434 shares during the last quarter. BlackRock Group LTD increased its stake in shares of Cerner Corp. by 4.1% in the first quarter. BlackRock Group LTD now owns 2,625,695 shares of the company’s stock valued at $139,056,000 after buying an additional 102,866 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its stake in shares of Cerner Corp. by 68,592.3% in the first quarter. Massmutual Trust Co. FSB ADV now owns 8,930 shares of the company’s stock valued at $473,000 after buying an additional 8,917 shares during the last quarter. Finally, Acrospire Investment Management LLC bought a new stake in shares of Cerner Corp. during the first quarter valued at about $106,000. Institutional investors and hedge funds own 81.39% of the company’s stock.
Shares of Cerner Corp. (NASDAQ:CERN) traded down 0.64% during trading on Thursday, hitting $60.86. The company had a trading volume of 944,499 shares. Cerner Corp. has a 12-month low of $49.59 and a 12-month high of $68.31. The stock has a 50-day moving average of $63.29 and a 200 day moving average of $59.06. The stock has a market capitalization of $20.55 billion, a price-to-earnings ratio of 33.42 and a beta of 0.79.
Cerner Corp. (NASDAQ:CERN) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.01. Cerner Corp. had a return on equity of 18.57% and a net margin of 13.53%. The business earned $1.22 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the prior year, the company earned $0.52 EPS. Cerner Corp.’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, analysts predict that Cerner Corp. will post $2.36 EPS for the current fiscal year.
A number of equities research analysts have weighed in on CERN shares. Jefferies Group reiterated a “buy” rating on shares of Cerner Corp. in a research note on Friday, June 10th. SunTrust Banks Inc. upgraded shares of Cerner Corp. from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $55.28 to $65.00 in a research note on Thursday, June 23rd. They noted that the move was a valuation call. Wells Fargo & Co. reiterated a “buy” rating on shares of Cerner Corp. in a research note on Sunday, June 26th. Raymond James Financial Inc. downgraded shares of Cerner Corp. from an “outperform” rating to a “market perform” rating and set a $64.57 price target on the stock. in a research note on Tuesday, July 5th. Finally, Vetr downgraded shares of Cerner Corp. from a “buy” rating to a “hold” rating and set a $64.78 price target on the stock. in a research note on Monday, August 1st. Nine research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $66.35.
In other Cerner Corp. news, VP Michael R. Battaglioli sold 2,000 shares of the stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $67.34, for a total value of $134,680.00. Following the completion of the transaction, the vice president now directly owns 2,000 shares in the company, valued at $134,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Linda M. Dillman sold 6,000 shares of the stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $64.68, for a total value of $388,080.00. The disclosure for this sale can be found here. Corporate insiders own 13.20% of the company’s stock.
About Cerner Corp.
Cerner Corporation 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. Its segments include Domestic and Global. The Domestic segment includes the business activity in the United States.
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