Cerner Co. (CERN) Position Raised by Sei Investments Co.
Sei Investments Co. increased its position in shares of Cerner Co. (NASDAQ:CERN) by 18.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,264 shares of the company’s stock after purchasing an additional 5,901 shares during the period. Sei Investments Co.’s holdings in Cerner were worth $2,729,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Andra AP fonden increased its position in Cerner by 45.8% during the second quarter. Andra AP fonden now owns 30,900 shares of the company’s stock worth $2,054,000 after purchasing an additional 9,700 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Cerner by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 697,200 shares of the company’s stock worth $46,342,000 after purchasing an additional 47,812 shares during the last quarter. State Farm Mutual Automobile Insurance Co. increased its position in Cerner by 381.0% during the second quarter. State Farm Mutual Automobile Insurance Co. now owns 429,846 shares of the company’s stock worth $28,572,000 after purchasing an additional 340,486 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in Cerner by 2.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 937,175 shares of the company’s stock worth $62,295,000 after purchasing an additional 23,659 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in Cerner by 16.1% during the second quarter. Victory Capital Management Inc. now owns 31,298 shares of the company’s stock worth $2,080,000 after purchasing an additional 4,340 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.
Cerner Co. (NASDAQ:CERN) opened at $70.17 on Friday. The company has a quick ratio of 2.75, a current ratio of 2.77 and a debt-to-equity ratio of 0.11. Cerner Co. has a 12 month low of $47.01 and a 12 month high of $73.86. The company has a market cap of $23,498.41, a P/E ratio of 31.28, a PEG ratio of 2.28 and a beta of 0.94.
Cerner (NASDAQ:CERN) last posted its quarterly earnings data on Thursday, October 26th. The company reported $0.61 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.01). Cerner had a net margin of 13.37% and a return on equity of 18.03%. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the previous year, the business posted $0.59 EPS. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. sell-side analysts expect that Cerner Co. will post 2.25 EPS for the current year.
In other news, COO Michael Nill sold 99,470 shares of the firm’s stock in a transaction that occurred 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Zane M. Burke sold 94,000 shares of the firm’s stock in a transaction that occurred 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 three months, insiders sold 927,470 shares of company stock valued at $61,761,082. Insiders own 13.11% of the company’s stock.
CERN has been the subject of several research analyst reports. Morgan Stanley raised shares of Cerner from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $59.00 to $62.00 in a research note on Thursday, August 10th. BidaskClub raised shares of Cerner from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. Robert W. Baird reaffirmed a “hold” rating and set a $67.00 target price on shares of Cerner in a research note on Thursday, August 31st. Canaccord Genuity reaffirmed a “buy” rating and set a $69.00 target price on shares of Cerner in a research note on Wednesday, September 6th. Finally, Royal Bank Of Canada initiated coverage on shares of Cerner in a research note on Tuesday, September 19th. They set a “top pick” rating and a $84.00 target price for the company. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $69.50.
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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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