Atlantic Trust Group LLC cut its stake in shares of Cerner Corporation (NASDAQ:CERN) by 15.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,536 shares of the company’s stock after selling 2,874 shares during the period. Atlantic Trust Group LLC’s holdings in Cerner Corporation were worth $1,033,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Comgest Global Investors S.A.S. raised its stake in Cerner Corporation by 1.5% during the 2nd quarter. Comgest Global Investors S.A.S. now owns 158,600 shares of the company’s stock valued at $10,543,000 after buying an additional 2,300 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Cerner Corporation by 0.3% during the 2nd 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 buying an additional 74 shares during the last quarter. State of Tennessee Treasury Department raised its stake in Cerner Corporation by 15.1% during the 2nd quarter. State of Tennessee Treasury Department now owns 107,819 shares of the company’s stock valued at $7,167,000 after buying an additional 14,162 shares during the last quarter. Sustainable Growth Advisers LP raised its stake in Cerner Corporation by 8.7% during the 2nd quarter. Sustainable Growth Advisers LP now owns 3,306,282 shares of the company’s stock valued at $219,769,000 after buying an additional 264,639 shares during the last quarter. Finally, Mcmillion Capital Management Inc. raised its stake in Cerner Corporation by 0.3% during the 2nd quarter. Mcmillion Capital Management Inc. now owns 47,350 shares of the company’s stock valued at $3,147,000 after buying an additional 165 shares during the last quarter. Institutional investors and hedge funds own 78.94% of the company’s stock.

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In related news, Chairman Clifford W. Illig sold 118,113 shares of the firm’s stock in a transaction on 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 sale, the chairman now owns 1,229,719 shares in the company, valued at $76,279,469.57. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, President Zane M. Burke sold 94,000 shares of the firm’s stock in a transaction on Tuesday, September 5th. The shares were 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. In the last 90 days, insiders have sold 272,113 shares of company stock worth $17,750,529. 13.20% of the stock is owned by company insiders.

Cerner Corporation (CERN) opened at 69.35 on Monday. Cerner Corporation has a one year low of $47.01 and a one year high of $69.91. The company has a 50-day moving average of $64.89 and a 200 day moving average of $62.73. The company has a market cap of $23.00 billion, a P/E ratio of 35.04 and a beta of 0.95.

Cerner Corporation (NASDAQ:CERN) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.56 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by $0.01. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.30 billion. Cerner Corporation had a net margin of 13.47% and a return on equity of 18.18%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.58 EPS. Analysts anticipate that Cerner Corporation will post $2.50 earnings per share for the current year.

Cerner Corporation announced that its board has approved a stock buyback plan on Thursday, May 25th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to buy up to 2.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

A number of brokerages have weighed in on CERN. UBS AG reiterated a “neutral” rating and set a $69.00 target price (up from $64.00) on shares of Cerner Corporation in a research note on Tuesday, June 6th. Bank of America Corporation upgraded shares of Cerner Corporation from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $64.36 to $66.00 in a research note on Monday, May 15th. Morgan Stanley upgraded shares of Cerner Corporation from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $59.00 to $62.00 in a research note on Thursday, August 10th. BidaskClub lowered shares of Cerner Corporation from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 15th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $74.00 target price on shares of Cerner Corporation in a research note on Thursday, June 1st. Fifteen analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $65.71.

Cerner Corporation 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.

Institutional Ownership by Quarter for Cerner Corporation (NASDAQ:CERN)

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