Scharf Investments LLC Trims Position in Cerner Co. (CERN)

Scharf Investments LLC lowered its position in shares of Cerner Co. (NASDAQ:CERN) by 3.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,568,321 shares of the company’s stock after selling 55,056 shares during the period. Cerner comprises about 2.7% of Scharf Investments LLC’s portfolio, making the stock its 20th biggest position. Scharf Investments LLC owned about 0.47% of Cerner worth $111,852,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CERN. Bank of New York Mellon Corp grew its position in Cerner by 19.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 17,546,618 shares of the company’s stock worth $1,166,325,000 after acquiring an additional 2,800,955 shares during the last quarter. American Century Companies Inc. grew its position in shares of Cerner by 62.4% in the 2nd quarter. American Century Companies Inc. now owns 3,929,394 shares of the company’s stock valued at $261,187,000 after buying an additional 1,510,288 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Cerner by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 29,296,545 shares of the company’s stock valued at $1,947,341,000 after buying an additional 876,919 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Cerner in the 2nd quarter valued at about $44,524,000. Finally, Sawgrass Asset Management LLC bought a new stake in shares of Cerner in the 3rd quarter valued at about $39,946,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

In related news, COO Michael Nill sold 99,470 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $70.45, for a total transaction of $7,007,661.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Clifford W. Illig sold 140,000 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $65.52, for a total value of $9,172,800.00. Following the transaction, the chief executive officer now directly owns 1,229,719 shares in the company, valued at $80,571,188.88. The disclosure for this sale can be found here. Insiders sold a total of 833,470 shares of company stock worth $55,418,902 over the last three months. 13.11% of the stock is owned by company insiders.

Cerner Co. (CERN) opened at $69.58 on Thursday. The stock has a market capitalization of $23,298.96, a PE ratio of 31.01, a PEG ratio of 2.26 and a beta of 0.94. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.77 and a quick ratio of 2.75. Cerner Co. has a 52 week low of $47.01 and a 52 week high of $73.86.

Cerner (NASDAQ:CERN) last announced its quarterly earnings data on Thursday, October 26th. The company reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 had a net margin of 13.37% and a return on equity of 18.03%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.59 earnings per share. sell-side analysts predict that Cerner Co. will post 2.25 earnings per share for the current fiscal year.

CERN has been the topic of a number of analyst reports. Cantor Fitzgerald reiterated a “buy” rating and issued a $77.00 price target on shares of Cerner in a research report on Tuesday, October 10th. KeyCorp reiterated a “buy” rating and issued a $76.00 price target on shares of Cerner in a research report on Friday, September 22nd. Robert W. Baird reiterated a “hold” rating and issued a $67.00 price target on shares of Cerner in a research report on Thursday, August 31st. SunTrust Banks reiterated a “buy” rating and issued a $79.00 price target on shares of Cerner in a research report on Thursday, October 19th. Finally, Zacks Investment Research lowered Cerner from a “hold” rating to a “sell” rating in a research report on Tuesday, September 26th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $69.50.

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Cerner 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.

Institutional Ownership by Quarter for Cerner (NASDAQ:CERN)

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