Parallel Advisors LLC Acquires 999 Shares of Cerner Corporation (CERN)

Parallel Advisors LLC raised its stake in shares of Cerner Corporation (NASDAQ:CERN) by 41.2% during the first quarter, Holdings Channel reports. The firm owned 3,421 shares of the company’s stock after buying an additional 999 shares during the period. Parallel Advisors LLC’s holdings in Cerner Corporation were worth $220,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in CERN. ProVise Management Group LLC boosted its position in shares of Cerner Corporation by 1.2% in the first quarter. ProVise Management Group LLC now owns 5,115 shares of the company’s stock valued at $301,000 after buying an additional 60 shares during the period. Country Club Trust Company n.a. boosted its position in shares of Cerner Corporation by 0.4% in the first quarter. Country Club Trust Company n.a. now owns 19,075 shares of the company’s stock valued at $1,123,000 after buying an additional 69 shares during the period. Linscomb & Williams Inc. boosted its position in shares of Cerner Corporation by 1.2% in the first quarter. Linscomb & Williams Inc. now owns 6,412 shares of the company’s stock valued at $377,000 after buying an additional 76 shares during the period. Maple Capital Management Inc. boosted its position in shares of Cerner Corporation by 0.9% in the first quarter. Maple Capital Management Inc. now owns 14,876 shares of the company’s stock valued at $875,000 after buying an additional 126 shares during the period. Finally, Probity Advisors Inc. boosted its position in shares of Cerner Corporation by 2.4% in the first quarter. Probity Advisors Inc. now owns 5,407 shares of the company’s stock valued at $318,000 after buying an additional 128 shares during the period. Hedge funds and other institutional investors own 82.77% of the company’s stock.

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

Shares of Cerner Corporation (NASDAQ CERN) opened at 68.32 on Friday. Cerner Corporation has a 12-month low of $47.01 and a 12-month high of $69.28. The firm has a 50-day moving average of $65.55 and a 200-day moving average of $57.03. The firm has a market capitalization of $22.57 billion, a PE ratio of 35.22 and a beta of 0.97.

Cerner Corporation (NASDAQ:CERN) last issued its quarterly earnings data on Thursday, April 27th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.06. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.23 billion. Cerner Corporation had a net margin of 13.40% and a return on equity of 18.36%. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.53 EPS. Equities analysts anticipate that Cerner Corporation will post $2.51 earnings per share for the current year.

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Several equities analysts have issued reports on the stock. Bank of America Corporation upgraded shares of Cerner Corporation from an “underperform” rating to a “neutral” rating and upped their price target for the company from $64.36 to $66.00 in a research report on Monday, May 15th. Jefferies Group LLC set a $74.00 price target on shares of Cerner Corporation and gave the company a “buy” rating in a research report on Sunday, April 30th. Zacks Investment Research cut shares of Cerner Corporation from a “hold” rating to a “sell” rating in a research report on Monday, April 3rd. Cantor Fitzgerald restated a “buy” rating and issued a $68.00 price target (up from $66.00) on shares of Cerner Corporation in a research report on Thursday, April 27th. Finally, Barclays PLC restated a “hold” rating and issued a $60.00 price target 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 assigned a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $64.68.

In other Cerner Corporation news, CFO Marc G. Naughton sold 60,000 shares of the business’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $68.63, for a total transaction of $4,117,800.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Gerald E. Bisbee, Jr. sold 6,200 shares of the business’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $67.97, for a total transaction of $421,414.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 704,542 shares of company stock worth $45,885,490. Insiders own 13.20% of the company’s stock.

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.

Want to see what other hedge funds are holding CERN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cerner Corporation (NASDAQ:CERN).

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