Canada Pension Plan Investment Board Sells 50,840 Shares of Cerner Corporation (CERN)

Canada Pension Plan Investment Board lowered its holdings in Cerner Corporation (NASDAQ:CERN) by 28.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 126,570 shares of the company’s stock after selling 50,840 shares during the period. Canada Pension Plan Investment Board’s holdings in Cerner Corporation were worth $9,027,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CERN. Advisory Services Network LLC lifted its holdings in Cerner Corporation by 4.4% in the second quarter. Advisory Services Network LLC now owns 1,648 shares of the company’s stock worth $110,000 after acquiring an additional 70 shares during the last quarter. Acrospire Investment Management LLC raised its holdings in shares of Cerner Corporation by 100.0% during the second quarter. Acrospire Investment Management LLC now owns 1,800 shares of the company’s stock valued at $120,000 after buying an additional 900 shares during the last quarter. Pacad Investment Ltd. bought a new stake in shares of Cerner Corporation during the second quarter valued at approximately $130,000. Sun Life Financial INC raised its holdings in shares of Cerner Corporation by 23,700.0% during the second quarter. Sun Life Financial INC now owns 2,142 shares of the company’s stock valued at $142,000 after buying an additional 2,133 shares during the last quarter. Finally, ETF Managers Group LLC bought a new stake in shares of Cerner Corporation during the second quarter valued at approximately $157,000. 78.64% of the stock is currently owned by hedge funds and other institutional investors.

CERN has been the topic of a number of recent analyst reports. Cantor Fitzgerald reaffirmed a “buy” rating and set a $77.00 price target on shares of Cerner Corporation in a report on Tuesday, October 10th. KeyCorp reaffirmed a “buy” rating and set a $76.00 price target on shares of Cerner Corporation in a report on Friday, September 22nd. Robert W. Baird reaffirmed a “hold” rating and set a $67.00 price target on shares of Cerner Corporation in a report on Thursday, August 31st. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $79.00 price target on shares of Cerner Corporation in a report on Thursday, October 19th. Finally, Zacks Investment Research cut Cerner Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $69.79.

In other Cerner Corporation news, SVP Randy D. Sims sold 60,000 shares of Cerner Corporation stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $68.03, for a total transaction of $4,081,800.00. Following the transaction, the senior vice president now directly owns 60,890 shares in the company, valued at approximately $4,142,346.70. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Clifford W. Illig sold 4,000 shares of Cerner Corporation stock in a transaction that occurred 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 owns 1,229,719 shares in the company, valued at $81,112,265.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 257,470 shares of company stock worth $17,695,482. 13.20% of the stock is currently owned by company insiders.

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Cerner Corporation (CERN) opened at $65.31 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.77 and a quick ratio of 2.75. The stock has a market cap of $21,710.02, a P/E ratio of 28.90, a price-to-earnings-growth ratio of 2.10 and a beta of 0.93. Cerner Corporation has a 12-month low of $47.01 and a 12-month high of $73.86.

Cerner Corporation (NASDAQ:CERN) last posted its quarterly earnings results on Thursday, October 26th. The company reported $0.61 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.01). The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.29 billion. Cerner Corporation had a return on equity of 18.03% and a net margin of 13.37%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.59 EPS. equities analysts forecast that Cerner Corporation will post 2.26 EPS for the current year.

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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