Clear Perspective Advisors LLC Cuts Position in Cerner Corporation (CERN)
Clear Perspective Advisors LLC lowered its position in Cerner Corporation (NASDAQ:CERN) by 15.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,339 shares of the company’s stock after selling 2,358 shares during the quarter. Clear Perspective Advisors LLC’s holdings in Cerner Corporation were worth $887,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently modified their holdings of CERN. Johnson Financial Group Inc. lifted its position in Cerner Corporation by 2.6% during 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 in the last quarter. Acrospire Investment Management LLC grew its stake in Cerner Corporation by 100.0% during the second quarter. Acrospire Investment Management LLC now owns 1,800 shares of the company’s stock worth $120,000 after buying an additional 900 shares during the period. Pacad Investment Ltd. purchased a new stake in Cerner Corporation during the second quarter worth approximately $130,000. Sun Life Financial INC grew its stake in Cerner Corporation by 23,700.0% during the second quarter. Sun Life Financial INC now owns 2,142 shares of the company’s stock worth $142,000 after buying an additional 2,133 shares during the period. Finally, Archford Capital Strategies LLC increased its position 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 worth $153,000 after acquiring an additional 1,258 shares in the last quarter. Hedge funds and other institutional investors own 78.94% of the company’s stock.
Shares of Cerner Corporation (NASDAQ:CERN) traded down 0.21% on Wednesday, reaching $71.90. 406,319 shares of the company’s stock traded hands. Cerner Corporation has a 52 week low of $47.01 and a 52 week high of $72.82. The company’s 50-day moving average is $68.17 and its 200-day moving average is $64.71. The firm has a market capitalization of $23.84 billion, a P/E ratio of 36.33 and a beta of 0.95.
Cerner Corporation (NASDAQ:CERN) last issued its quarterly earnings results on Thursday, July 27th. The company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.30 billion. Cerner Corporation had a net margin of 13.47% and a return on equity of 18.18%. Cerner Corporation’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period last year, the company earned $0.58 earnings per share. Equities research analysts anticipate that Cerner Corporation will post $2.50 earnings per share for the current fiscal year.
In related news, SVP Randy D. Sims sold 60,000 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $68.03, for a total value of $4,081,800.00. Following the completion of the sale, the senior vice president now owns 60,890 shares in the company, valued at $4,142,346.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Clifford W. Illig sold 118,113 shares of the stock in a transaction dated 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 owns 1,229,719 shares of the company’s stock, valued at approximately $76,279,469.57. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 371,583 shares of company stock worth $24,758,191. Insiders own 13.20% of the company’s stock.
WARNING: “Clear Perspective Advisors LLC Cuts Position in Cerner Corporation (CERN)” was posted by Watch List News and is the property of of Watch List News. If you are accessing this article on another site, it was stolen and republished in violation of US & international copyright legislation. The correct version of this article can be viewed at https://www.watchlistnews.com/clear-perspective-advisors-llc-cuts-position-in-cerner-corporation-cern/1608330.html.
A number of brokerages have recently commented on CERN. UBS AG reissued a “neutral” rating and issued a $69.00 target price (up previously from $64.00) on shares of Cerner Corporation in a research note on Tuesday, June 6th. J P Morgan Chase & Co restated an “overweight” rating and set a $72.00 target price (up previously from $65.00) on shares of Cerner Corporation in a report on Tuesday, June 6th. BidaskClub cut shares of Cerner Corporation from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 15th. Jefferies Group LLC reaffirmed a “buy” rating and set a $74.00 price target on shares of Cerner Corporation in a research report on Thursday, July 6th. Finally, William Blair reiterated an “outperform” rating on shares of Cerner Corporation in a report on Monday, July 10th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $67.11.
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.
Receive News & Ratings for Cerner Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cerner Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.