Advisor Group Inc. Lowers Holdings in Cerner Corporation (CERN)

Advisor Group Inc. lowered its position in shares of Cerner Corporation (NASDAQ:CERN) by 1.2% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 70,455 shares of the company’s stock after selling 884 shares during the quarter. Advisor Group Inc.’s holdings in Cerner Corporation were worth $5,025,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CERN. Bank of New York Mellon Corp lifted its holdings in shares of Cerner Corporation by 19.0% in the 2nd 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 during the period. American Century Companies Inc. lifted its holdings in shares of Cerner Corporation by 62.4% in the 2nd 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 during the period. Vanguard Group Inc. lifted its holdings in shares of Cerner Corporation by 3.1% in the 2nd 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 during the period. Arrowstreet Capital Limited Partnership acquired a new position in shares of Cerner Corporation in the 2nd quarter valued at about $44,524,000. Finally, Prudential Financial Inc. lifted its holdings in shares of Cerner Corporation by 64.5% in the 2nd 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 during the period. 78.26% of the stock is owned by institutional investors.

In other Cerner Corporation news, Chairman Clifford W. Illig sold 4,000 shares of the company’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $65.96, for a total transaction of $263,840.00. Following the transaction, the chairman now directly owns 1,229,719 shares in the company, valued at $81,112,265.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Michael Nill sold 99,470 shares of the company’s stock in a transaction on Wednesday, September 13th. The stock was 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 257,470 shares of company stock worth $17,695,482 over the last 90 days. 13.20% of the stock is owned by insiders.

Cerner Corporation (NASDAQ:CERN) traded up $0.16 on Tuesday, reaching $65.47. The company had a trading volume of 1,398,800 shares, compared to its average volume of 2,380,399. Cerner Corporation has a 12-month low of $47.01 and a 12-month high of $73.86. The firm has a market capitalization of $21,710.02, a PE ratio of 28.90, a PEG ratio of 2.10 and a beta of 0.93. 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 Corporation (NASDAQ:CERN) last released its quarterly earnings results 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 return on equity of 18.03% and a net margin of 13.37%. The firm 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 earned $0.59 earnings per share. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. equities analysts predict that Cerner Corporation will post 2.26 earnings per share for the current year.

CERN has been the subject of several analyst reports. Cantor Fitzgerald reissued a “buy” rating and issued a $77.00 price objective on shares of Cerner Corporation in a report on Tuesday, October 10th. KeyCorp reissued a “buy” rating and issued a $76.00 price objective on shares of Cerner Corporation in a report on Friday, September 22nd. Robert W. Baird reissued a “hold” rating and issued a $67.00 price objective on shares of Cerner Corporation in a report on Thursday, August 31st. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $79.00 price target on shares of Cerner Corporation in a report on Thursday, October 19th. Finally, Zacks Investment Research lowered Cerner Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have given a buy rating to the company. Cerner Corporation currently has an average rating of “Hold” and an average target price of $69.79.

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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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Institutional Ownership by Quarter for Cerner Corporation (NASDAQ:CERN)

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