Teacher Retirement System of Texas Invests $490,000 in Cerner Corporation (CERN)
Teacher Retirement System of Texas acquired a new stake in Cerner Corporation (NASDAQ:CERN) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,334 shares of the company’s stock, valued at approximately $490,000.
Other large investors have also added to or reduced their stakes in the company. Advantage Investment Management LLC acquired a new stake in Cerner Corporation during the fourth quarter valued at approximately $103,000. Parallel Advisors LLC acquired a new stake in Cerner Corporation during the fourth quarter valued at approximately $115,000. Blenheim Capital Management BV acquired a new stake in Cerner Corporation during the fourth quarter valued at approximately $126,000. Alpha Windward LLC raised its stake in Cerner Corporation by 6.1% in the first quarter. Alpha Windward LLC now owns 2,594 shares of the company’s stock valued at $153,000 after buying an additional 148 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in Cerner Corporation during the first quarter valued at approximately $200,000. Institutional investors and hedge funds own 82.77% of the company’s stock.
Shares of Cerner Corporation (CERN) traded down 0.52% during midday trading on Tuesday, reaching $66.99. The company’s stock had a trading volume of 261,182 shares. The stock has a 50 day moving average price of $65.50 and a 200-day moving average price of $56.89. Cerner Corporation has a 52-week low of $47.01 and a 52-week high of $69.28. The company has a market capitalization of $22.14 billion, a price-to-earnings ratio of 34.53 and a beta of 0.97.
Cerner Corporation (NASDAQ:CERN) last announced its quarterly earnings results on Thursday, April 27th. The company reported $0.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.06. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.23 billion. Cerner Corporation had a return on equity of 18.36% and a net margin of 13.40%. Cerner Corporation’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.53 EPS. Equities research analysts expect that Cerner Corporation will post $2.51 EPS for the current year.
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Several equities research analysts recently commented on CERN shares. TheStreet upgraded shares of Cerner Corporation from a “c+” rating to a “b-” rating in a research report on Monday, April 3rd. Cantor Fitzgerald reiterated a “buy” rating and issued a $68.00 price objective (up from $66.00) on shares of Cerner Corporation in a research report on Thursday, April 27th. Jefferies Group LLC set a $74.00 price objective on shares of Cerner Corporation and gave the stock a “buy” rating in a research report on Sunday, April 30th. Canaccord Genuity boosted their price objective on shares of Cerner Corporation from $59.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, May 1st. Finally, BidaskClub lowered shares of Cerner Corporation from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 15th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $64.70.
In related news, Vice Chairman Clifford W. Illig sold 234,525 shares of the business’s stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $64.43, for a total value of $15,110,445.75. Following the sale, the insider now owns 1,229,719 shares of the company’s stock, valued at approximately $79,230,795.17. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Michael Nill sold 110,000 shares of the business’s stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $63.91, for a total value of $7,030,100.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 704,542 shares of company stock worth $45,885,490. 13.20% of the stock is 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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