Waddell & Reed Financial Inc. lowered its stake in Cerner Corporation (NASDAQ:CERN) by 0.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,497,000 shares of the company’s stock after selling 21,900 shares during the period. Waddell & Reed Financial Inc. owned 1.36% of Cerner Corporation worth $264,648,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of CERN. Johnson Financial Group Inc. increased its stake in shares of Cerner Corporation by 2.6% in the first quarter. Johnson Financial Group Inc. now owns 1,870 shares of the company’s stock valued at $110,000 after buying an additional 47 shares during the period. Alpha Windward LLC increased its stake in shares of Cerner Corporation by 6.1% in the first quarter. Alpha Windward LLC now owns 2,594 shares of the company’s stock valued at $153,000 after buying an additional 148 shares during the period. Archford Capital Strategies LLC increased its stake in shares of Cerner Corporation by 93.8% in the first quarter. Archford Capital Strategies LLC now owns 2,599 shares of the company’s stock valued at $153,000 after buying an additional 1,258 shares during the period. Fox Run Management L.L.C. acquired a new position in shares of Cerner Corporation during the first quarter valued at approximately $200,000. Finally, National Asset Management Inc. acquired a new position in shares of Cerner Corporation during the first quarter valued at approximately $201,000. Hedge funds and other institutional investors own 82.40% of the company’s stock.
Cerner Corporation (NASDAQ:CERN) traded up 1.70% during trading on Friday, reaching $64.60. 2,793,112 shares of the company traded hands. The firm has a market capitalization of $21.39 billion, a price-to-earnings ratio of 32.64 and a beta of 0.96. Cerner Corporation has a 12-month low of $47.01 and a 12-month high of $69.28. The firm’s 50 day moving average price is $66.00 and its 200 day moving average price is $60.28.
Cerner Corporation (NASDAQ:CERN) last posted its earnings results on Thursday, July 27th. The company reported $0.56 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by $0.01. Cerner Corporation had a return on equity of 18.45% and a net margin of 13.47%. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the prior year, the business posted $0.58 earnings per share. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. Equities research analysts expect that Cerner Corporation will post $2.51 earnings per share for the current year.
Cerner Corporation announced that its Board of Directors has initiated a stock repurchase plan on Thursday, May 25th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to purchase up to 2.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.
A number of brokerages recently issued reports on CERN. Stifel Nicolaus reissued a “hold” rating and issued a $69.00 price objective on shares of Cerner Corporation in a research note on Friday. BidaskClub cut shares of Cerner Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday. William Blair reissued an “outperform” rating on shares of Cerner Corporation in a research note on Monday, July 10th. Jefferies Group LLC reissued a “buy” rating and issued a $74.00 price objective on shares of Cerner Corporation in a research note on Thursday, July 6th. Finally, J P Morgan Chase & Co reissued an “overweight” rating and issued a $72.00 price objective (up from $65.00) on shares of Cerner Corporation in a research note on Tuesday, June 6th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $65.32.
In other news, VP Michael R. Battaglioli sold 4,000 shares of Cerner Corporation stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $65.55, for a total value of $262,200.00. Following the completion of the sale, the vice president now directly owns 4,000 shares in the company, valued at $262,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gerald E. Bisbee, Jr. sold 6,200 shares of Cerner Corporation stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $67.97, for a total transaction of $421,414.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 704,542 shares of company stock valued at $45,885,490. Corporate insiders own 13.20% of the company’s stock.
Cerner Corporation Company 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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