Carillon Tower Advisers Inc. Invests $52.77 Million in Cerner Co. (NASDAQ:CERN)

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Carillon Tower Advisers Inc. acquired a new position in shares of Cerner Co. (NASDAQ:CERN) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 774,151 shares of the company’s stock, valued at approximately $52,774,000. Carillon Tower Advisers Inc. owned approximately 0.25% of Cerner as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Cerner by 2.2% during the second quarter. Vanguard Group Inc. now owns 33,776,244 shares of the company’s stock worth $2,475,799,000 after acquiring an additional 719,784 shares in the last quarter. Parnassus Investments CA increased its position in shares of Cerner by 2.2% during the third quarter. Parnassus Investments CA now owns 10,425,134 shares of the company’s stock worth $710,681,000 after acquiring an additional 224,177 shares in the last quarter. Waddell & Reed Financial Inc. grew its position in Cerner by 4.1% in the second quarter. Waddell & Reed Financial Inc. now owns 6,087,983 shares of the company’s stock valued at $446,249,000 after purchasing an additional 238,143 shares in the last quarter. Invesco Ltd. grew its position 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 purchasing an additional 1,044,715 shares in the last quarter. Finally, Northern Trust Corp grew its position in Cerner by 6.3% in the second quarter. Northern Trust Corp now owns 3,775,949 shares of the company’s stock valued at $276,778,000 after purchasing an additional 223,334 shares in the last quarter. 83.82% of the stock is owned by institutional investors.

In other news, CFO Marc G. Naughton sold 24,110 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $67.58, for a total value of $1,629,353.80. Following the sale, the chief financial officer now directly owns 84,898 shares of the company’s stock, valued at $5,737,406.84. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Jeffrey A. Townsend sold 199,432 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $66.46, for a total transaction of $13,254,250.72. Following the completion of the sale, the vice president now directly owns 59,432 shares in the company, valued at $3,949,850.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 344,268 shares of company stock worth $23,243,010. Insiders own 0.75% of the company’s stock.

A number of research analysts recently weighed in on the stock. ValuEngine downgraded shares of Cerner from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. KeyCorp reaffirmed an “overweight” rating and issued a $82.00 target price (up previously from $76.00) on shares of Cerner in a research report on Friday, August 16th. Zacks Investment Research downgraded shares of Cerner from a “buy” rating to a “hold” rating and set a $77.00 target price for the company. in a research report on Monday, July 29th. BidaskClub downgraded shares of Cerner from a “sell” rating to a “strong sell” rating in a research report on Friday, October 25th. Finally, Cowen set a $66.00 target price on shares of Cerner and gave the company a “hold” rating in a research report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $76.73.

Shares of CERN stock opened at $67.31 on Friday. The firm has a market capitalization of $21.11 billion, a PE ratio of 30.46, a price-to-earnings-growth ratio of 2.11 and a beta of 0.92. Cerner Co. has a 12 month low of $48.78 and a 12 month high of $76.47. The company has a current ratio of 2.21, a quick ratio of 2.19 and a debt-to-equity ratio of 0.24. The firm has a fifty day simple moving average of $67.42 and a two-hundred day simple moving average of $69.69.

Cerner (NASDAQ:CERN) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.66 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.66. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.43 billion. Cerner had a net margin of 9.02% and a return on equity of 15.61%. The company’s revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.63 earnings per share. On average, equities analysts predict that Cerner Co. will post 2.41 earnings per share for the current fiscal year.

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.

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Institutional Ownership by Quarter for Cerner (NASDAQ:CERN)

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