Capital Investment Services of America Inc. Buys 1,995 Shares of Cerner Co. (NASDAQ:CERN)

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Capital Investment Services of America Inc. raised its stake in shares of Cerner Co. (NASDAQ:CERN) by 0.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 229,496 shares of the company’s stock after purchasing an additional 1,995 shares during the quarter. Cerner accounts for about 2.3% of Capital Investment Services of America Inc.’s investment portfolio, making the stock its 19th biggest position. Capital Investment Services of America Inc. owned about 0.07% of Cerner worth $15,645,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the company. Nuveen Asset Management LLC increased its stake in Cerner by 28,932.0% in the second quarter. Nuveen Asset Management LLC now owns 2,380,911 shares of the company’s stock valued at $174,521,000 after acquiring an additional 2,372,710 shares during the period. AQR Capital Management LLC increased its stake in Cerner by 166.4% in the second quarter. AQR Capital Management LLC now owns 2,714,579 shares of the company’s stock valued at $195,721,000 after acquiring an additional 1,695,766 shares during the period. Invesco Ltd. increased its stake in Cerner by 21.4% in the second quarter. Invesco Ltd. now owns 5,931,690 shares of the company’s stock valued at $434,793,000 after acquiring an additional 1,044,715 shares during the period. Man Group plc increased its stake in Cerner by 572.2% in the second quarter. Man Group plc now owns 1,103,741 shares of the company’s stock valued at $80,904,000 after acquiring an additional 939,552 shares during the period. Finally, Vanguard Group Inc. increased its stake in Cerner by 2.2% in the second quarter. Vanguard Group Inc. now owns 33,776,244 shares of the company’s stock valued at $2,475,799,000 after acquiring an additional 719,784 shares during the period. Institutional investors own 82.66% of the company’s stock.

In other news, VP Jeffrey A. Townsend sold 199,432 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $66.46, for a total transaction of $13,254,250.72. Following the transaction, the vice president now directly owns 59,432 shares in the company, valued at $3,949,850.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Michael Nill sold 13,124 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $68.07, for a total transaction of $893,350.68. The disclosure for this sale can be found here. Insiders have sold 344,268 shares of company stock worth $23,243,010 over the last quarter. 0.75% of the stock is owned by company insiders.

A number of analysts recently weighed in on CERN shares. ValuEngine cut shares of Cerner from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Cantor Fitzgerald upped their target price on shares of Cerner from $75.00 to $85.00 and gave the company an “overweight” rating in a research note on Monday, July 8th. Piper Jaffray Companies boosted their price target on shares of Cerner from $74.00 to $80.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Deutsche Bank assumed coverage on shares of Cerner in a research report on Thursday, September 26th. They issued a “buy” rating and a $82.00 price target on the stock. Finally, Argus upgraded shares of Cerner from a “hold” rating to a “buy” rating in a research report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $75.19.

Shares of CERN stock traded up $0.74 during trading hours on Friday, reaching $67.58. 2,041,950 shares of the company were exchanged, compared to its average volume of 2,338,917. Cerner Co. has a fifty-two week low of $48.78 and a fifty-two week high of $76.47. The stock’s fifty day moving average is $67.87 and its two-hundred day moving average is $68.53. The company has a market cap of $20.73 billion, a price-to-earnings ratio of 30.59, a P/E/G ratio of 2.02 and a beta of 0.93. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.52 and a quick ratio of 2.50.

Cerner (NASDAQ:CERN) last announced its earnings results on Wednesday, July 24th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.02. Cerner had a net margin of 10.75% and a return on equity of 15.14%. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same period in the prior year, the business earned $0.62 earnings per share. Cerner’s quarterly revenue was up 4.6% on a year-over-year basis. On average, research analysts anticipate that Cerner Co. will post 2.44 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 9th. Stockholders of record on Wednesday, September 25th were given a dividend of $0.18 per share. The ex-dividend date was Tuesday, September 24th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.07%. Cerner’s payout ratio is 32.58%.

Cerner 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.

Further Reading: Basic Economics

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Institutional Ownership by Quarter for Cerner (NASDAQ:CERN)

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