Lucia Wealth Services LLC Acquires Shares of 15,731 Cerner Co. (NASDAQ:CERN)

Lucia Wealth Services LLC acquired a new stake in shares of Cerner Co. (NASDAQ:CERN) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 15,731 shares of the company’s stock, valued at approximately $1,153,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CERN. World Asset Management Inc lifted its stake in shares of Cerner by 11.7% in the 2nd quarter. World Asset Management Inc now owns 23,620 shares of the company’s stock valued at $1,731,000 after purchasing an additional 2,483 shares during the period. Manchester Financial Inc. acquired a new position in shares of Cerner in the 2nd quarter valued at $59,000. Cim LLC raised its position in Cerner by 1.9% during the second quarter. Cim LLC now owns 139,925 shares of the company’s stock worth $10,257,000 after acquiring an additional 2,666 shares during the period. AE Wealth Management LLC acquired a new position in Cerner during the second quarter worth $1,400,000. Finally, Destination Wealth Management raised its position in Cerner by 3.7% during the second quarter. Destination Wealth Management now owns 5,208 shares of the company’s stock worth $382,000 after acquiring an additional 187 shares during the period. Institutional investors and hedge funds own 81.47% of the company’s stock.

Cerner stock opened at $71.93 on Friday. Cerner Co. has a 52-week low of $48.78 and a 52-week high of $76.47. The stock has a market capitalization of $23.43 billion, a price-to-earnings ratio of 32.55, a price-to-earnings-growth ratio of 2.11 and a beta of 0.89. The business’s fifty day simple moving average is $73.30. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.52 and a quick ratio of 2.50.

Cerner (NASDAQ:CERN) last released its earnings results on Wednesday, July 24th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.02. Cerner had a net margin of 10.75% and a return on equity of 15.14%. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the prior year, the firm earned $0.62 earnings per share. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, equities analysts expect that Cerner Co. will post 2.43 EPS for the current fiscal year.

The firm also recently announced a special dividend, which was paid on Friday, July 26th. Stockholders of record on Tuesday, June 18th were issued a dividend of $0.18 per share. The ex-dividend date was Monday, June 17th. Cerner’s payout ratio is 32.58%.

In related news, Director William D. Zollars sold 1,400 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $72.11, for a total value of $100,954.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Randy D. Sims sold 40,000 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $72.45, for a total transaction of $2,898,000.00. The disclosure for this sale can be found here. Insiders have sold 441,468 shares of company stock valued at $30,777,997 in the last ninety days. Insiders own 0.75% of the company’s stock.

A number of research firms have weighed in on CERN. Canaccord Genuity upped their price objective on shares of Cerner from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Piper Jaffray Companies upped their price objective on shares of Cerner from $74.00 to $80.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Morgan Stanley set a $49.00 price objective on shares of Cerner and gave the stock a “sell” rating in a research report on Wednesday, April 10th. Cantor Fitzgerald upped their price objective on shares of Cerner from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Monday, July 8th. Finally, Robert W. Baird upped their price objective on shares of Cerner from $67.00 to $71.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company’s stock. Cerner presently has an average rating of “Buy” and an average price target of $73.36.

Cerner Company Profile

Cerner Corporation provides health care information technology solutions and tech-enabled 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.

Further Reading: Why do companies pay special dividends?

Institutional Ownership by Quarter for Cerner (NASDAQ:CERN)

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