Sterling Capital Management LLC Has $46.70 Million Holdings in Cerner Corporation (CERN)
Sterling Capital Management LLC cut its holdings in Cerner Corporation (NASDAQ:CERN) by 0.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 702,553 shares of the company’s stock after selling 5,405 shares during the quarter. Sterling Capital Management LLC owned about 0.21% of Cerner Corporation worth $46,699,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of CERN. Johnson Financial Group Inc. lifted its stake in 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 acquiring an additional 47 shares during the last quarter. Acrospire Investment Management LLC lifted its stake in Cerner Corporation by 100.0% in the second quarter. Acrospire Investment Management LLC now owns 1,800 shares of the company’s stock valued at $120,000 after acquiring an additional 900 shares during the last quarter. Pacad Investment Ltd. acquired a new stake in Cerner Corporation in the second quarter valued at approximately $130,000. Sun Life Financial INC lifted its stake in Cerner Corporation by 23,700.0% in the second quarter. Sun Life Financial INC now owns 2,142 shares of the company’s stock valued at $142,000 after acquiring an additional 2,133 shares during the last quarter. Finally, Archford Capital Strategies LLC lifted its stake in 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 acquiring an additional 1,258 shares during the last quarter. Hedge funds and other institutional investors own 78.94% of the company’s stock.
Cerner Corporation (NASDAQ CERN) traded up 0.60% during trading on Thursday, hitting $71.95. 1,049,752 shares of the stock were exchanged. Cerner Corporation has a 1-year low of $47.01 and a 1-year high of $72.82. The stock has a market cap of $23.86 billion, a price-to-earnings ratio of 36.36 and a beta of 0.95. The firm’s 50 day moving average price is $69.43 and its 200-day moving average price is $65.29.
Cerner Corporation (NASDAQ:CERN) last released its quarterly earnings data on Thursday, July 27th. The company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.01). The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.30 billion. Cerner Corporation had a net margin of 13.47% and a return on equity of 18.18%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.58 EPS. On average, analysts anticipate that Cerner Corporation will post $2.50 EPS for the current year.
CERN has been the subject of a number of analyst reports. BidaskClub cut shares of Cerner Corporation from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 15th. Jefferies Group LLC reiterated a “buy” rating and issued a $74.00 target price on shares of Cerner Corporation in a research note on Thursday, July 6th. William Blair reiterated an “outperform” rating on shares of Cerner Corporation in a research note on Monday, July 10th. Stifel Nicolaus reiterated a “hold” rating and issued a $69.00 target price on shares of Cerner Corporation in a research note on Friday, July 28th. Finally, Zacks Investment Research cut shares of Cerner Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $67.56.
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In other Cerner Corporation news, SVP Randy D. Sims sold 60,000 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $68.03, for a total transaction of $4,081,800.00. Following the completion of the sale, the senior vice president now owns 60,890 shares of the company’s stock, valued at approximately $4,142,346.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Clifford W. Illig sold 118,113 shares of the firm’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $62.03, for a total value of $7,326,549.39. Following the sale, the chairman now directly 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. Insiders have sold a total of 371,583 shares of company stock valued at $24,758,191 in the last ninety days. 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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