Cerner Co. (CERN) Stake Boosted by Quantitative Systematic Strategies LLC

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Quantitative Systematic Strategies LLC grew its position in shares of Cerner Co. (NASDAQ:CERN) by 72.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,836 shares of the company’s stock after acquiring an additional 5,834 shares during the period. Quantitative Systematic Strategies LLC’s holdings in Cerner were worth $827,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. MV Capital Management Inc. purchased a new stake in Cerner in the first quarter worth about $116,000. CWM LLC grew its holdings in Cerner by 880.5% in the second quarter. CWM LLC now owns 2,510 shares of the company’s stock worth $150,000 after purchasing an additional 2,254 shares during the period. Alpha Windward LLC purchased a new stake in Cerner in the second quarter worth about $160,000. Archford Capital Strategies LLC purchased a new stake in Cerner in the first quarter worth about $181,000. Finally, Baldwin Brothers Inc. MA purchased a new stake in Cerner in the second quarter worth about $191,000. 77.15% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:CERN opened at $65.43 on Tuesday. The company has a market cap of $21.48 billion, a PE ratio of 30.09, a PEG ratio of 2.07 and a beta of 0.98. Cerner Co. has a 52 week low of $52.05 and a 52 week high of $73.86. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.83 and a current ratio of 2.85.

Cerner (NASDAQ:CERN) last issued its quarterly earnings data on Thursday, August 2nd. The company reported $0.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.02. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.33 billion. Cerner had a net margin of 16.06% and a return on equity of 15.26%. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.61 earnings per share. equities analysts predict that Cerner Co. will post 2.28 earnings per share for the current fiscal year.

In related news, Vice Chairman Clifford W. Illig sold 205,600 shares of the stock in a transaction that occurred on Thursday, June 7th. The shares were sold at an average price of $60.26, for a total transaction of $12,389,456.00. Following the transaction, the insider now owns 1,229,719 shares in the company, valued at $74,102,866.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Michael R. Battaglioli sold 4,000 shares of the stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $67.02, for a total transaction of $268,080.00. Following the transaction, the chief accounting officer now owns 2,226 shares in the company, valued at approximately $149,186.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 709,974 shares of company stock worth $45,502,401. 4.71% of the stock is owned by insiders.

A number of equities research analysts have weighed in on CERN shares. Zacks Investment Research upgraded shares of Cerner from a “sell” rating to a “hold” rating in a report on Tuesday, July 3rd. BidaskClub cut shares of Cerner from a “hold” rating to a “sell” rating in a report on Friday, May 25th. KeyCorp increased their price target on shares of Cerner from $71.00 to $74.00 and gave the company an “overweight” rating in a report on Friday, August 3rd. Royal Bank of Canada increased their price target on shares of Cerner from $67.00 to $71.00 and gave the company a “buy” rating in a report on Thursday, May 24th. Finally, Stifel Nicolaus cut their price target on shares of Cerner from $71.00 to $62.00 and set a “hold” rating on the stock in a report on Thursday, May 3rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $71.83.

About Cerner

Cerner Corporation provides health care information technology solutions and services in the United States and internationally. The company offers Cerner Millennium architecture, a person-centric computing framework, which includes clinical, financial, and management information systems that allow providers to access an individual's electronic health record (EHR) at the point of care, and organizes and delivers information for physicians, nurses, laboratory technicians, pharmacists, front- and back-office professionals, and consumers.

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Institutional Ownership by Quarter for Cerner (NASDAQ:CERN)

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