Headinvest LLC Decreases Stock Position in Cerner Co. (NASDAQ:CERN)

Headinvest LLC trimmed its holdings in Cerner Co. (NASDAQ:CERN – Get Rating) by 54.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,870 shares of the company’s stock after selling 3,500 shares during the period. Headinvest LLC’s holdings in Cerner were worth $267,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. K2 Principal Fund L.P. acquired a new position in shares of Cerner in the 4th quarter valued at approximately $1,161,000. Gamco Investors INC. ET AL acquired a new position in shares of Cerner in the 4th quarter valued at approximately $1,588,000. Gabelli Funds LLC acquired a new position in shares of Cerner in the 4th quarter valued at approximately $10,993,000. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in shares of Cerner in the 4th quarter valued at approximately $7,200,000. Finally, O Shaughnessy Asset Management LLC raised its position in shares of Cerner by 251.2% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 5,882 shares of the company’s stock valued at $546,000 after purchasing an additional 4,207 shares in the last quarter. 82.23% of the stock is currently owned by institutional investors.

In related news, CAO Michael R. Battaglioli sold 5,288 shares of the firm’s stock in a transaction dated Wednesday, May 4th. The stock was sold at an average price of $94.09, for a total transaction of $497,547.92. Following the completion of the transaction, the chief accounting officer now owns 3,412 shares of the company’s stock, valued at $321,035.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Tracy L. Platt sold 7,769 shares of the firm’s stock in a transaction dated Friday, March 11th. The shares were sold at an average price of $93.40, for a total value of $725,624.60. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company’s stock.

Several research firms recently issued reports on CERN. StockNews.com began coverage on Cerner in a research report on Thursday, March 31st. They set a “buy” rating on the stock. Argus lowered Cerner from a “buy” rating to a “hold” rating in a research report on Monday, April 11th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Cerner has an average rating of “Hold” and an average price target of $87.38.

CERN traded up $0.01 during trading on Friday, reaching $93.93. 2,220,277 shares of the company were exchanged, compared to its average volume of 3,263,446. The stock has a market cap of $27.62 billion, a P/E ratio of 47.20, a PEG ratio of 2.35 and a beta of 0.77. The firm has a 50 day moving average of $93.68 and a 200 day moving average of $88.74. The company has a current ratio of 1.79, a quick ratio of 1.77 and a debt-to-equity ratio of 0.41. Cerner Co. has a 52 week low of $69.08 and a 52 week high of $94.46.

Cerner (NASDAQ:CERN – Get Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.03. Cerner had a return on equity of 22.86% and a net margin of 10.15%. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same period in the prior year, the business earned $0.76 EPS. The firm’s revenue was up 3.0% on a year-over-year basis. As a group, analysts forecast that Cerner Co. will post 3.13 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 19th. Stockholders of record on Monday, March 28th were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, March 25th. This represents a $1.08 annualized dividend and a dividend yield of 1.15%. Cerner’s payout ratio is 54.27%.

Cerner Company Profile (Get Rating)

Cerner Corporation, together with its subsidiaries, provides health care information technology solutions and tech-enabled services in the United States and internationally. It 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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