Wedbush Securities Inc. cut its stake in Cerner Corporation (NASDAQ:CERN) by 0.8% during the second quarter, Holdings Channel reports. The firm owned 8,081 shares of the company’s stock after selling 64 shares during the period. Wedbush Securities Inc.’s holdings in Cerner Corporation were worth $537,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Cerner Corporation by 0.8% in the first quarter. Vanguard Group Inc. now owns 28,419,626 shares of the company’s stock valued at $1,672,495,000 after buying an additional 231,565 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Cerner Corporation by 3,008.5% in the first quarter. BlackRock Inc. now owns 18,298,722 shares of the company’s stock valued at $1,076,881,000 after buying an additional 17,710,062 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Cerner Corporation by 29.9% in the first quarter. Bank of New York Mellon Corp now owns 14,745,663 shares of the company’s stock valued at $867,783,000 after buying an additional 3,391,745 shares during the last quarter. State Street Corp boosted its stake in shares of Cerner Corporation by 1.8% in the first quarter. State Street Corp now owns 12,593,837 shares of the company’s stock valued at $741,147,000 after buying an additional 228,570 shares during the last quarter. Finally, Fiduciary Management Inc. WI boosted its stake in shares of Cerner Corporation by 63.2% in the first quarter. Fiduciary Management Inc. WI now owns 8,241,408 shares of the company’s stock valued at $485,007,000 after buying an additional 3,192,338 shares during the last quarter. Hedge funds and other institutional investors own 82.34% of the company’s stock.

Cerner Corporation (CERN) opened at 63.44 on Wednesday. The firm has a market capitalization of $21.04 billion, a price-to-earnings ratio of 32.06 and a beta of 0.95. Cerner Corporation has a 52 week low of $47.01 and a 52 week high of $69.28. The company has a 50-day moving average of $64.81 and a 200-day moving average of $61.36.

Cerner Corporation (NASDAQ:CERN) last posted its quarterly earnings results on Thursday, July 27th. The company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.57 by $0.01. Cerner Corporation had a net margin of 13.47% and a return on equity of 18.18%. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period last year, the firm posted $0.58 earnings per share. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities analysts forecast that Cerner Corporation will post $2.50 earnings per share for the current fiscal year.

Cerner Corporation declared that its Board of Directors has initiated a share repurchase plan on Thursday, May 25th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to repurchase up to 2.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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Several analysts have commented on CERN shares. Zacks Investment Research upgraded shares of Cerner Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, April 18th. Cantor Fitzgerald reiterated a “buy” rating and set a $68.00 target price (up previously from $66.00) on shares of Cerner Corporation in a research report on Thursday, April 27th. UBS AG upped their target price on shares of Cerner Corporation from $60.00 to $64.00 and gave the company a “buy” rating in a research report on Friday, April 28th. Leerink Swann set a $65.00 target price on shares of Cerner Corporation and gave the company a “hold” rating in a research report on Friday, April 28th. Finally, Barclays PLC reiterated a “hold” rating and set a $60.00 target price on shares of Cerner Corporation in a research report on Monday, May 1st. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $65.84.

In other Cerner Corporation news, CFO Marc G. Naughton sold 60,000 shares of Cerner Corporation stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $68.63, for a total value of $4,117,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Clifford W. Illig sold 118,113 shares of Cerner Corporation stock in a transaction on Friday, August 11th. The shares were sold at an average price of $62.03, for a total transaction of $7,326,549.39. Following the completion of the sale, the chairman now directly owns 1,229,719 shares of the company’s stock, valued at $76,279,469.57. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 248,913 shares of company stock valued at $16,252,337. Insiders own 13.20% of the company’s stock.

About Cerner Corporation

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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