Wilkins Investment Counsel Inc. held its position in Cerner Corporation (NASDAQ:CERN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,225 shares of the company’s stock at the close of the second quarter. Wilkins Investment Counsel Inc.’s holdings in Cerner Corporation were worth $1,012,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Waldron LP acquired a new position in Cerner Corporation during the 1st quarter worth about $339,000. Oregon Public Employees Retirement Fund lifted its stake in Cerner Corporation by 0.9% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 31,675 shares of the company’s stock worth $1,864,000 after acquiring an additional 290 shares in the last quarter. Bbva Compass Bancshares Inc. lifted its stake in Cerner Corporation by 3.4% during the 1st quarter. Bbva Compass Bancshares Inc. now owns 80,574 shares of the company’s stock worth $4,742,000 after acquiring an additional 2,614 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in Cerner Corporation by 6.3% during the 1st quarter. Daiwa Securities Group Inc. now owns 8,450 shares of the company’s stock worth $497,000 after acquiring an additional 500 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its stake in Cerner Corporation by 4.0% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 36,503 shares of the company’s stock worth $2,148,000 after acquiring an additional 1,398 shares in the last quarter. Institutional investors and hedge funds own 78.94% of the company’s stock.
A number of equities research analysts have issued reports on CERN shares. Robert W. Baird reaffirmed a “hold” rating and issued a $67.00 price target on shares of Cerner Corporation in a research report on Thursday, August 31st. Zacks Investment Research lowered Cerner Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Jefferies Group LLC reaffirmed a “buy” rating and issued a $74.00 price target on shares of Cerner Corporation in a research report on Thursday, June 1st. Canaccord Genuity reaffirmed a “buy” rating and issued a $69.00 price target on shares of Cerner Corporation in a research report on Wednesday, September 6th. Finally, BidaskClub lowered Cerner Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Fifteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Cerner Corporation currently has a consensus rating of “Hold” and a consensus price target of $65.71.
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Shares of Cerner Corporation (NASDAQ:CERN) traded down 0.47% on Friday, hitting $71.60. The company’s stock had a trading volume of 1,573,343 shares. Cerner Corporation has a 1-year low of $47.01 and a 1-year high of $72.27. The firm has a market cap of $23.74 billion, a PE ratio of 36.18 and a beta of 0.95. The company has a 50 day moving average of $65.53 and a 200 day moving average of $63.18.
Cerner Corporation (NASDAQ:CERN) last announced its quarterly earnings results on Thursday, July 27th. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.01). Cerner Corporation had a net margin of 13.47% and a return on equity of 18.18%. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same period last year, the firm earned $0.58 EPS. Cerner Corporation’s quarterly revenue was up 6.3% on a year-over-year basis. Equities analysts forecast that Cerner Corporation will post $2.50 EPS for the current year.
Cerner Corporation declared that its board has authorized a stock repurchase program on Thursday, May 25th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 2.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other news, Chairman Clifford W. Illig sold 118,113 shares of the business’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $62.03, for a total transaction of $7,326,549.39. Following the transaction, the chairman now directly owns 1,229,719 shares in the company, valued at approximately $76,279,469.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Zane M. Burke sold 94,000 shares of the business’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $67.47, for a total transaction of $6,342,180.00. The disclosure for this sale can be found here. Insiders sold a total of 272,113 shares of company stock worth $17,750,529 over the last ninety days. 13.20% of the stock is currently owned by insiders.
About Cerner Corporation
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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