Cerner Corporation (CERN) Position Increased by Ngam Advisors L.P.
Ngam Advisors L.P. increased its stake in Cerner Corporation (NASDAQ:CERN) by 32.5% during the first quarter, Holdings Channel reports. The firm owned 749,009 shares of the company’s stock after buying an additional 183,658 shares during the period. Ngam Advisors L.P.’s holdings in Cerner Corporation were worth $44,079,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Aberdeen Asset Management PLC UK increased its position in shares of Cerner Corporation by 26.2% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 70,318 shares of the company’s stock valued at $3,331,000 after buying an additional 14,577 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Cerner Corporation by 0.9% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,321 shares of the company’s stock valued at $820,000 after buying an additional 155 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Cerner Corporation by 10.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 639,729 shares of the company’s stock valued at $30,307,000 after buying an additional 61,928 shares during the period. Baird Financial Group Inc. increased its position in shares of Cerner Corporation by 381.9% in the fourth quarter. Baird Financial Group Inc. now owns 30,695 shares of the company’s stock valued at $1,454,000 after buying an additional 24,325 shares during the period. Finally, Martingale Asset Management L P bought a new position in shares of Cerner Corporation during the fourth quarter valued at about $579,000. Institutional investors own 82.77% of the company’s stock.
Shares of Cerner Corporation (NASDAQ:CERN) traded down 0.53% during mid-day trading on Tuesday, reaching $66.98. 260,980 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $65.50 and a 200-day moving average price of $56.89. Cerner Corporation has a one year low of $47.01 and a one year high of $69.28. The stock has a market cap of $22.13 billion, a PE ratio of 34.53 and a beta of 0.97.
Cerner Corporation (NASDAQ:CERN) last released its quarterly earnings data on Thursday, April 27th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.06. Cerner Corporation had a net margin of 13.40% and a return on equity of 18.36%. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the previous year, the company earned $0.53 earnings per share. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, analysts predict that Cerner Corporation will post $2.51 EPS for the current year.
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CERN has been the subject of several research analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $66.00 price target on shares of Cerner Corporation in a report on Wednesday, February 22nd. Stifel Nicolaus upped their price target on shares of Cerner Corporation from $56.00 to $60.00 and gave the stock a “hold” rating in a report on Wednesday, February 22nd. Citigroup Inc. downgraded shares of Cerner Corporation from a “buy” rating to a “neutral” rating in a report on Friday, February 24th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Cerner Corporation from a “sell” rating to a “hold” rating in a report on Monday, March 20th. Finally, TheStreet upgraded shares of Cerner Corporation from a “c+” rating to a “b-” rating in a report on Monday, April 3rd. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the stock. Cerner Corporation has an average rating of “Hold” and an average target price of $64.70.
In other news, VP Michael R. Battaglioli sold 4,000 shares of Cerner Corporation stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $65.55, for a total transaction of $262,200.00. Following the sale, the vice president now owns 4,000 shares of the company’s stock, valued at approximately $262,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Clifford W. Illig sold 234,525 shares of Cerner Corporation stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $64.43, for a total transaction of $15,110,445.75. Following the sale, the insider now directly owns 1,229,719 shares in the company, valued at approximately $79,230,795.17. The disclosure for this sale can be found here. Insiders have sold a total of 704,542 shares of company stock worth $45,885,490 in the last ninety days. Insiders own 13.20% of the company’s stock.
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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