Webster Bank N. A. trimmed its position in shares of Cerner Co. (NASDAQ:CERN) by 8.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,929 shares of the company’s stock after selling 2,437 shares during the period. Webster Bank N. A.’s holdings in Cerner were worth $1,610,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CERN. MV Capital Management Inc. acquired a new stake in shares of Cerner during the first quarter valued at about $116,000. Archford Capital Strategies LLC acquired a new stake in shares of Cerner during the first quarter valued at about $181,000. Cedar Hill Associates LLC acquired a new stake in shares of Cerner during the fourth quarter valued at about $200,000. TLP Group LLC grew its stake in shares of Cerner by 856.1% during the first quarter. TLP Group LLC now owns 3,442 shares of the company’s stock valued at $200,000 after acquiring an additional 3,082 shares in the last quarter. Finally, Signature Financial Management Inc. acquired a new stake in shares of Cerner during the first quarter valued at about $238,000. Hedge funds and other institutional investors own 77.72% of the company’s stock.

Shares of Cerner traded up $0.94, hitting $61.18, during trading hours on Thursday, Marketbeat.com reports. 51,352 shares of the company were exchanged, compared to its average volume of 1,646,383. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.93 and a current ratio of 2.95. Cerner Co. has a one year low of $52.05 and a one year high of $73.86. The stock has a market capitalization of $20.16 billion, a price-to-earnings ratio of 27.58, a PEG ratio of 1.92 and a beta of 0.96.

Cerner (NASDAQ:CERN) last issued its earnings results on Wednesday, May 2nd. The company reported $0.58 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.58. Cerner had a net margin of 16.50% and a return on equity of 15.80%. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter last year, the company posted $0.59 earnings per share. Cerner’s revenue was up 2.6% on a year-over-year basis. research analysts forecast that Cerner Co. will post 2.28 EPS for the current year.

In other Cerner news, Vice Chairman Clifford W. Illig sold 45,000 shares of the firm’s stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $60.63, for a total value of $2,728,350.00. Following the transaction, the insider now owns 1,229,719 shares of the company’s stock, valued at $74,557,862.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Clifford W. Illig sold 3,000 shares of the firm’s stock in a transaction dated Monday, May 7th. The stock was sold at an average price of $58.32, for a total transaction of $174,960.00. Following the completion of the transaction, the insider now directly owns 1,229,719 shares in the company, valued at approximately $71,717,212.08. The disclosure for this sale can be found here. Insiders sold 275,848 shares of company stock worth $16,650,169 in the last three months. 4.71% of the stock is currently owned by corporate insiders.

Several analysts have recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and set a $80.00 target price on shares of Cerner in a research note on Monday. BidaskClub upgraded Cerner from a “sell” rating to a “hold” rating in a research note on Friday, July 6th. Zacks Investment Research upgraded Cerner from a “sell” rating to a “hold” rating in a research note on Tuesday, July 3rd. ValuEngine upgraded Cerner from a “sell” rating to a “hold” rating in a research note on Saturday, June 16th. Finally, Wells Fargo & Co set a $73.00 target price on Cerner and gave the company a “buy” rating in a research note on Wednesday, June 6th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $69.18.

About Cerner

Cerner Corporation provides health care information technology solutions and services in the United States and internationally. The company offers Cerner Millennium architecture, a person-centric computing framework, which includes clinical, financial, and management information systems that allow providers to access an individual's electronic health record (EHR) at the point of care, and organizes and delivers information for physicians, nurses, laboratory technicians, pharmacists, front- and back-office professionals, and consumers.

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Institutional Ownership by Quarter for Cerner (NASDAQ:CERN)

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