Sandy Spring Bank trimmed its holdings in shares of Cerner Corporation (NASDAQ:CERN) by 1.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,921 shares of the company’s stock after selling 700 shares during the period. Sandy Spring Bank’s holdings in Cerner Corporation were worth $3,318,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Johnson Financial Group Inc. raised its stake in shares of Cerner Corporation by 2.6% during the first quarter. Johnson Financial Group Inc. now owns 1,870 shares of the company’s stock worth $110,000 after buying an additional 47 shares during the last quarter. Pacad Investment Ltd. bought a new stake in shares of Cerner Corporation during the second quarter worth approximately $130,000. Archford Capital Strategies LLC raised its stake in shares of Cerner Corporation by 93.8% during the first quarter. Archford Capital Strategies LLC now owns 2,599 shares of the company’s stock worth $153,000 after buying an additional 1,258 shares during the last quarter. Raymond James Trust N.A. bought a new stake in shares of Cerner Corporation during the second quarter worth approximately $203,000. Finally, Wellington Shields & Co. LLC bought a new stake in shares of Cerner Corporation during the second quarter worth approximately $213,000. 78.94% of the stock is owned by institutional investors and hedge funds.

Cerner Corporation (CERN) traded down 0.64% on Friday, hitting $71.48. 6,083,154 shares of the stock traded hands. The stock has a 50-day moving average price of $65.76 and a 200 day moving average price of $63.29. The company has a market cap of $23.70 billion, a price-to-earnings ratio of 36.12 and a beta of 0.95. Cerner Corporation has a 1-year low of $47.01 and a 1-year high of $72.27.

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

Cerner Corporation announced that its board has initiated a stock repurchase plan on Thursday, May 25th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to reacquire up to 2.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

A number of equities research analysts recently weighed in on CERN shares. J P Morgan Chase & Co restated an “overweight” rating and set a $72.00 price objective (up previously from $65.00) on shares of Cerner Corporation in a report on Tuesday, June 6th. UBS AG restated a “neutral” rating and set a $69.00 price objective (up previously from $64.00) on shares of Cerner Corporation in a report on Tuesday, June 6th. Cantor Fitzgerald restated a “buy” rating and set a $77.00 price objective (up previously from $68.00) on shares of Cerner Corporation in a report on Monday, June 5th. Robert W. Baird restated a “hold” rating and set a $67.00 price objective on shares of Cerner Corporation in a report on Thursday, August 31st. Finally, Canaccord Genuity restated a “buy” rating and set a $69.00 price objective on shares of Cerner Corporation in a report on Wednesday, September 6th. Fifteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $65.71.

In related news, Chairman Clifford W. Illig sold 118,113 shares of Cerner Corporation stock in a transaction on Friday, August 11th. The shares were sold at an average price of $62.03, for a total value of $7,326,549.39. Following the completion of the sale, the chairman now owns 1,229,719 shares of the company’s stock, valued at approximately $76,279,469.57. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Randy D. Sims sold 60,000 shares of Cerner Corporation stock in a transaction on Friday, September 1st. The shares were sold at an average price of $68.03, for a total transaction of $4,081,800.00. Following the completion of the sale, the senior vice president now directly owns 60,890 shares of the company’s stock, valued at approximately $4,142,346.70. The disclosure for this sale can be found here. Insiders sold a total of 371,583 shares of company stock valued at $24,758,191 in the last quarter. 13.20% of the stock is currently owned by company insiders.

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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.

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

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