Cerner Co. (NASDAQ:CERN) Shares Sold by Cullen Frost Bankers Inc.

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Cullen Frost Bankers Inc. lessened its holdings in Cerner Co. (NASDAQ:CERN) by 15.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,527 shares of the company’s stock after selling 273 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Cerner were worth $104,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Smith Asset Management Group LP purchased a new position in shares of Cerner in the second quarter worth about $18,104,000. Janus Henderson Group PLC raised its stake in shares of Cerner by 0.8% in the second quarter. Janus Henderson Group PLC now owns 367,043 shares of the company’s stock worth $26,900,000 after purchasing an additional 2,859 shares during the last quarter. Hartford Investment Management Co. raised its stake in shares of Cerner by 0.3% in the second quarter. Hartford Investment Management Co. now owns 104,219 shares of the company’s stock worth $7,639,000 after purchasing an additional 313 shares during the last quarter. FinTrust Capital Advisors LLC raised its stake in shares of Cerner by 6,480.6% in the second quarter. FinTrust Capital Advisors LLC now owns 8,160 shares of the company’s stock worth $598,000 after purchasing an additional 8,036 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its stake in shares of Cerner by 60.7% in the third quarter. State of Alaska Department of Revenue now owns 81,249 shares of the company’s stock worth $5,537,000 after purchasing an additional 30,678 shares during the last quarter. Hedge funds and other institutional investors own 83.82% of the company’s stock.

In other Cerner news, EVP John Peterzalek sold 27,484 shares of Cerner stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $72.11, for a total value of $1,981,871.24. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Michael Nill sold 13,124 shares of Cerner stock in a transaction on Friday, September 13th. The shares were sold at an average price of $68.07, for a total value of $893,350.68. The disclosure for this sale can be found here. Insiders sold 344,268 shares of company stock worth $23,243,010 in the last 90 days. Company insiders own 0.75% of the company’s stock.

Shares of CERN stock opened at $67.31 on Friday. The stock has a 50 day moving average of $67.42 and a 200 day moving average of $69.69. The stock has a market cap of $21.11 billion, a P/E ratio of 30.46, a P/E/G ratio of 2.11 and a beta of 0.92. The company has a current ratio of 2.21, a quick ratio of 2.19 and a debt-to-equity ratio of 0.24. Cerner Co. has a twelve month low of $48.78 and a twelve month high of $76.47.

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

Several brokerages have recently issued reports on CERN. ValuEngine cut Cerner from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Jefferies Financial Group cut Cerner from a “buy” rating to a “hold” rating and raised their price objective for the stock from $69.00 to $75.00 in a research note on Friday, August 23rd. Piper Jaffray Companies set a $78.00 price objective on Cerner and gave the stock a “buy” rating in a research note on Friday, October 25th. Zacks Investment Research cut Cerner from a “buy” rating to a “hold” rating and set a $77.00 price target for the company. in a research report on Monday, July 29th. Finally, Wells Fargo & Co lifted their price target on Cerner from $72.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $76.73.

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.

See Also: Roth IRA

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Institutional Ownership by Quarter for Cerner (NASDAQ:CERN)

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