Cerner Co. (CERN) Position Reduced by BB&T Corp

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BB&T Corp lowered its stake in Cerner Co. (NASDAQ:CERN) by 3.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 147,070 shares of the company’s stock after selling 5,792 shares during the quarter. BB&T Corp’s holdings in Cerner were worth $9,473,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. BlackRock Inc. raised its position in Cerner by 4.7% in the 2nd quarter. BlackRock Inc. now owns 20,778,625 shares of the company’s stock valued at $1,242,353,000 after buying an additional 926,609 shares during the last quarter. Parnassus Investments CA increased its holdings in Cerner by 178.1% in the 2nd quarter. Parnassus Investments CA now owns 7,207,631 shares of the company’s stock worth $430,944,000 after acquiring an additional 4,616,290 shares during the last quarter. Veritas Asset Management LLP increased its holdings in Cerner by 25.7% in the 2nd quarter. Veritas Asset Management LLP now owns 4,586,572 shares of the company’s stock worth $274,231,000 after acquiring an additional 937,800 shares during the last quarter. Northern Trust Corp increased its holdings in Cerner by 0.6% in the 2nd quarter. Northern Trust Corp now owns 3,435,234 shares of the company’s stock worth $205,392,000 after acquiring an additional 19,829 shares during the last quarter. Finally, Morgan Stanley boosted its stake in Cerner by 39.1% in the 2nd quarter. Morgan Stanley now owns 2,552,434 shares of the company’s stock worth $152,610,000 after purchasing an additional 717,218 shares during the period. 76.33% of the stock is currently owned by hedge funds and other institutional investors.

CERN traded down $0.48 during trading on Friday, hitting $57.57. 2,314,205 shares of the stock were exchanged, compared to its average volume of 2,503,779. The company has a market capitalization of $19.29 billion, a P/E ratio of 26.17, a PEG ratio of 1.91 and a beta of 0.96. Cerner Co. has a 1 year low of $50.91 and a 1 year high of $73.43. The company has a quick ratio of 2.60, a current ratio of 2.63 and a debt-to-equity ratio of 0.09.

In other Cerner news, President Zane M. Burke sold 381,139 shares of Cerner stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $64.05, for a total transaction of $24,411,952.95. Following the completion of the sale, the president now owns 59,539 shares of the company’s stock, valued at approximately $3,813,472.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Julie M. Wilson sold 67,574 shares of the business’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $64.73, for a total value of $4,374,065.02. The disclosure for this sale can be found here. Insiders sold a total of 1,134,070 shares of company stock worth $71,159,251 over the last quarter. Company insiders own 4.71% of the company’s stock.

Several research analysts have commented on the company. SunTrust Banks raised their target price on Cerner to $65.00 and gave the stock a “hold” rating in a research note on Monday, August 6th. KeyCorp boosted their target price on Cerner from $74.00 to $76.00 and gave the stock an “overweight” rating in a research report on Monday, August 20th. BidaskClub downgraded Cerner from a “hold” rating to a “sell” rating in a research report on Friday, August 31st. Barclays began coverage on Cerner in a research note on Thursday, September 13th. They issued an “equal weight” rating and a $70.00 price target on the stock. Finally, Cantor Fitzgerald reissued a “buy” rating and set a $80.00 target price on shares of Cerner in a research note on Wednesday, September 12th. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $69.98.

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Cerner Profile

Cerner Corporation provides health care information technology solutions and 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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