Cerner Corp. (CERN) Position Lowered by Montag & Caldwell LLC
Montag & Caldwell LLC cut its position in shares of Cerner Corp. (NASDAQ:CERN) by 10.4% during the second quarter, Holdings Channel reports. The firm owned 19,281 shares of the company’s stock after selling 2,230 shares during the period. Montag & Caldwell LLC’s holdings in Cerner Corp. were worth $1,130,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Loomis Sayles & Co. L P increased its position in shares of Cerner Corp. by 56.7% in the first quarter. Loomis Sayles & Co. L P now owns 6,953,349 shares of the company’s stock worth $368,249,000 after buying an additional 2,517,398 shares during the period. Renaissance Technologies LLC increased its position in shares of Cerner Corp. by 894.2% in the first quarter. Renaissance Technologies LLC now owns 817,604 shares of the company’s stock worth $43,300,000 after buying an additional 735,365 shares during the period. Scharf Investments LLC increased its position in shares of Cerner Corp. by 43.5% in the first quarter. Scharf Investments LLC now owns 2,101,147 shares of the company’s stock worth $111,277,000 after buying an additional 637,168 shares during the period. PGGM Investments acquired a new position in shares of Cerner Corp. during the second quarter worth about $32,321,000. Finally, Alta Capital Management LLC acquired a new position in shares of Cerner Corp. during the second quarter worth about $15,696,000. 81.39% of the stock is owned by hedge funds and other institutional investors.
Shares of Cerner Corp. (NASDAQ:CERN) traded down 0.98% during mid-day trading on Tuesday, reaching $60.82. The company’s stock had a trading volume of 512,084 shares. Cerner Corp. has a 52-week low of $49.59 and a 52-week high of $68.31. The company has a market capitalization of $20.54 billion, a PE ratio of 33.40 and a beta of 0.79. The firm’s 50 day moving average is $63.59 and its 200-day moving average is $58.99.
Cerner Corp. (NASDAQ:CERN) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.01. Cerner Corp. had a return on equity of 18.57% and a net margin of 13.53%. The company earned $1.22 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the previous year, the firm posted $0.52 EPS. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. Analysts forecast that Cerner Corp. will post $2.36 EPS for the current year.
A number of equities analysts recently issued reports on CERN shares. Raymond James Financial Inc. downgraded Cerner Corp. from an “outperform” rating to a “market perform” rating and set a $64.57 price target for the company. in a report on Tuesday, July 5th. Canaccord Genuity reissued a “buy” rating and issued a $68.00 price objective on shares of Cerner Corp. in a report on Sunday, September 11th. Vetr downgraded Cerner Corp. from a “hold” rating to a “sell” rating and set a $64.78 price objective for the company. in a report on Monday, August 8th. Stifel Nicolaus started coverage on Cerner Corp. in a report on Wednesday, August 31st. They issued a “hold” rating for the company. Finally, Bank of America Corp. started coverage on Cerner Corp. in a report on Monday, September 19th. They issued a “neutral” rating and a $67.00 price objective for the company. Nine investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $66.35.
In other news, Director Linda M. Dillman sold 6,000 shares of the business’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $64.68, for a total value of $388,080.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Neal L. Patterson sold 428,638 shares of the business’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $67.14, for a total value of $28,778,755.32. The disclosure for this sale can be found here. 13.20% of the stock is owned by insiders.
Cerner Corp. Company Profile
Cerner Corporation 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. Its segments include Domestic and Global. The Domestic segment includes the business activity in the United States.
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