Cambridge Investment Research Advisors Inc. Sells 223 Shares of Cerner Co. (NASDAQ:CERN)

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Cambridge Investment Research Advisors Inc. cut its holdings in Cerner Co. (NASDAQ:CERN) by 0.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,214 shares of the company’s stock after selling 223 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Cerner were worth $1,997,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. State Street Corp raised its position in Cerner by 1.3% in the third quarter. State Street Corp now owns 14,227,729 shares of the company’s stock worth $972,413,000 after acquiring an additional 180,710 shares during the period. Parnassus Investments CA increased its stake in shares of Cerner by 2.2% in the third quarter. Parnassus Investments CA now owns 10,425,134 shares of the company’s stock worth $710,681,000 after purchasing an additional 224,177 shares in the last quarter. Starboard Value LP increased its stake in shares of Cerner by 10.8% in the third quarter. Starboard Value LP now owns 3,325,000 shares of the company’s stock worth $226,665,000 after purchasing an additional 325,000 shares in the last quarter. California Public Employees Retirement System increased its stake in shares of Cerner by 4.1% in the fourth quarter. California Public Employees Retirement System now owns 1,660,555 shares of the company’s stock worth $121,868,000 after purchasing an additional 64,701 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Cerner by 7.9% in the third quarter. First Trust Advisors LP now owns 1,392,594 shares of the company’s stock worth $94,933,000 after purchasing an additional 101,848 shares in the last quarter. Institutional investors and hedge funds own 81.85% of the company’s stock.

In related news, CAO Michael R. Battaglioli sold 10,000 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $72.06, for a total transaction of $720,600.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,226 shares of the company’s stock, valued at $448,645.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Randy D. Sims sold 188,780 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $80.00, for a total transaction of $15,102,400.00. The disclosure for this sale can be found here. Insiders have sold 513,617 shares of company stock valued at $39,627,013 over the last ninety days. 0.75% of the stock is currently owned by corporate insiders.

A number of brokerages have recently issued reports on CERN. Wells Fargo & Co increased their price objective on shares of Cerner from $80.00 to $83.50 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Bank of America set a $83.00 price objective on shares of Cerner and gave the stock a “buy” rating in a research note on Friday, October 25th. Canaccord Genuity increased their price objective on shares of Cerner from $80.00 to $81.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. Barclays set a $70.00 price objective on shares of Cerner and gave the stock a “hold” rating in a research note on Friday, October 25th. Finally, Cfra increased their price objective on shares of Cerner from $72.00 to $76.00 and gave the stock a “hold” rating in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $78.71.

CERN opened at $77.07 on Friday. The stock has a market capitalization of $23.86 billion, a price-to-earnings ratio of 31.74, a PEG ratio of 1.96 and a beta of 0.97. The company has a fifty day moving average of $74.72 and a 200 day moving average of $70.60. Cerner Co. has a fifty-two week low of $54.22 and a fifty-two week high of $80.90. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.02 and a current ratio of 2.04.

Cerner (NASDAQ:CERN) last posted its earnings results on Tuesday, February 4th. The company reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.01. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Cerner had a net margin of 9.30% and a return on equity of 16.66%. Cerner’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period last year, the company posted $0.63 earnings per share. On average, equities research analysts forecast that Cerner Co. will post 2.85 earnings per share for the current year.

Cerner Company Profile

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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Institutional Ownership by Quarter for Cerner (NASDAQ:CERN)

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