Calamos Advisors LLC boosted its stake in shares of Cerner Corporation (NASDAQ:CERN) by 2.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 54,003 shares of the company’s stock after purchasing an additional 1,431 shares during the period. Calamos Advisors LLC’s holdings in Cerner Corporation were worth $3,590,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Comgest Global Investors S.A.S. lifted its position in shares of Cerner Corporation by 1.5% in the second quarter. Comgest Global Investors S.A.S. now owns 158,600 shares of the company’s stock valued at $10,543,000 after acquiring an additional 2,300 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Cerner Corporation by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,842 shares of the company’s stock valued at $1,452,000 after acquiring an additional 74 shares in the last quarter. State of Tennessee Treasury Department lifted its position in shares of Cerner Corporation by 15.1% in the second quarter. State of Tennessee Treasury Department now owns 107,819 shares of the company’s stock valued at $7,167,000 after acquiring an additional 14,162 shares in the last quarter. Sustainable Growth Advisers LP lifted its position in shares of Cerner Corporation by 8.7% in the second quarter. Sustainable Growth Advisers LP now owns 3,306,282 shares of the company’s stock valued at $219,769,000 after acquiring an additional 264,639 shares in the last quarter. Finally, Mcmillion Capital Management Inc. lifted its position in shares of Cerner Corporation by 0.3% in the second quarter. Mcmillion Capital Management Inc. now owns 47,350 shares of the company’s stock valued at $3,147,000 after acquiring an additional 165 shares in the last quarter. Institutional investors own 78.94% of the company’s stock.
Shares of Cerner Corporation (NASDAQ:CERN) traded down 0.60% during mid-day trading on Friday, hitting $71.51. The stock had a trading volume of 1,282,888 shares. The firm has a market cap of $23.71 billion, a PE ratio of 36.13 and a beta of 0.95. The stock’s 50-day moving average is $65.53 and its 200 day moving average is $63.18. Cerner Corporation has a 12 month low of $47.01 and a 12 month high of $72.27.
Cerner Corporation (NASDAQ:CERN) last announced its quarterly earnings data on Thursday, July 27th. The company reported $0.56 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.01). The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.30 billion. Cerner Corporation had a return on equity of 18.18% and a net margin of 13.47%. Cerner Corporation’s revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.58 earnings per share. Equities research analysts predict that Cerner Corporation will post $2.50 earnings per share for the current fiscal year.
Cerner Corporation announced that its Board of Directors has authorized a stock buyback plan on Thursday, May 25th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 2.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
A number of research firms recently commented on CERN. UBS AG reiterated a “neutral” rating and issued a $69.00 target price (up from $64.00) on shares of Cerner Corporation in a research report on Tuesday, June 6th. Morgan Stanley upgraded Cerner Corporation from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $59.00 to $62.00 in a research report on Thursday, August 10th. BidaskClub downgraded Cerner Corporation from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 15th. Jefferies Group LLC reissued a “buy” rating and set a $74.00 price objective on shares of Cerner Corporation in a research note on Thursday, June 1st. Finally, Zacks Investment Research cut Cerner Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Fifteen analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $65.71.
In other news, President Zane M. Burke sold 94,000 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $67.47, for a total value of $6,342,180.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Clifford W. Illig sold 118,113 shares of the firm’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $62.03, for a total transaction of $7,326,549.39. Following the completion of the transaction, the chairman now owns 1,229,719 shares in the company, valued at $76,279,469.57. The disclosure for this sale can be found here. Over the last three months, insiders have sold 272,113 shares of company stock valued at $17,750,529. 13.20% of the stock is owned by company insiders.
Cerner Corporation Company Profile
Cerner Corporation (Cerner) is a supplier of healthcare information technology (HCIT). The Company offers a range of intelligent solutions and services that support the clinical, financial and operational needs of organizations of all sizes. The Company’s segments include Domestic and Global. The Domestic segment includes revenue contributions and expenditures associated with business activity in the United States.
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