Cerner Corporation (CERN) Position Lifted by World Asset Management Inc
World Asset Management Inc increased its holdings in Cerner Corporation (NASDAQ:CERN) by 5.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 30,291 shares of the company’s stock after acquiring an additional 1,646 shares during the quarter. World Asset Management Inc owned approximately 9,112.27% of Cerner Corporation worth $2,160,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its stake in Cerner Corporation by 19.0% during the second quarter. Bank of New York Mellon Corp now owns 17,546,618 shares of the company’s stock valued at $1,166,325,000 after buying an additional 2,800,955 shares in the last quarter. American Century Companies Inc. raised its stake in Cerner Corporation by 62.4% during the second quarter. American Century Companies Inc. now owns 3,929,394 shares of the company’s stock valued at $261,187,000 after buying an additional 1,510,288 shares in the last quarter. Vanguard Group Inc. raised its stake in Cerner Corporation by 3.1% during the second quarter. Vanguard Group Inc. now owns 29,296,545 shares of the company’s stock valued at $1,947,341,000 after buying an additional 876,919 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Cerner Corporation during the second quarter valued at approximately $44,524,000. Finally, Prudential Financial Inc. raised its stake in Cerner Corporation by 64.5% during the second quarter. Prudential Financial Inc. now owns 1,192,666 shares of the company’s stock valued at $79,277,000 after buying an additional 467,476 shares in the last quarter. Institutional investors and hedge funds own 78.64% of the company’s stock.
Shares of Cerner Corporation (NASDAQ:CERN) traded down $0.34 during trading hours on Friday, hitting $65.14. The stock had a trading volume of 64,146 shares, compared to its average volume of 2,379,005. Cerner Corporation has a one year low of $47.01 and a one year high of $73.86. The firm has a market cap of $21,710.00, a P/E ratio of 29.33, a PEG ratio of 2.13 and a beta of 0.93. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.77 and a quick ratio of 2.75.
Cerner Corporation (NASDAQ:CERN) last announced its quarterly earnings data on Thursday, October 26th. The company reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.01). Cerner Corporation had a net margin of 13.37% and a return on equity of 18.03%. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter last year, the company posted $0.59 EPS. Cerner Corporation’s revenue was up 7.7% on a year-over-year basis. research analysts expect that Cerner Corporation will post 2.26 earnings per share for the current fiscal year.
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A number of brokerages have recently weighed in on CERN. BidaskClub cut Cerner Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Stifel Nicolaus reiterated a “hold” rating and set a $69.00 price target on shares of Cerner Corporation in a research report on Friday, July 28th. Zacks Investment Research cut Cerner Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Morgan Stanley upgraded Cerner Corporation from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $59.00 to $62.00 in a research report on Thursday, August 10th. Finally, Robert W. Baird reiterated a “hold” rating and set a $67.00 price target on shares of Cerner Corporation in a research report on Thursday, August 31st. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have issued a buy rating to the company’s stock. Cerner Corporation has an average rating of “Hold” and an average target price of $68.80.
In other news, Chairman Clifford W. Illig sold 4,000 shares of the stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $65.96, for a total value of $263,840.00. Following the completion of the sale, the chairman now owns 1,229,719 shares in the company, valued at $81,112,265.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Michael Nill sold 99,470 shares of the stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $70.45, for a total value of $7,007,661.50. The disclosure for this sale can be found here. Insiders have sold a total of 257,470 shares of company stock valued at $17,695,482 in the last quarter. Insiders own 13.20% of the company’s stock.
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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