Creative Planning Has $22.44 Million Position in Cerner Co. (NASDAQ:CERN)

Creative Planning reduced its holdings in Cerner Co. (NASDAQ:CERN) by 11.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 306,103 shares of the company’s stock after selling 38,579 shares during the quarter. Creative Planning owned about 0.09% of Cerner worth $22,437,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of CERN. Wetherby Asset Management Inc. acquired a new stake in Cerner during the second quarter worth about $231,000. First Merchants Corp grew its position in Cerner by 1.3% during the second quarter. First Merchants Corp now owns 34,297 shares of the company’s stock worth $2,513,000 after buying an additional 455 shares in the last quarter. BTIM Corp. grew its position in Cerner by 5.0% during the second quarter. BTIM Corp. now owns 106,145 shares of the company’s stock worth $7,781,000 after buying an additional 5,045 shares in the last quarter. Strs Ohio grew its position in Cerner by 39.5% during the second quarter. Strs Ohio now owns 15,751 shares of the company’s stock worth $1,154,000 after buying an additional 4,462 shares in the last quarter. Finally, Hartford Investment Management Co. grew its position in Cerner by 0.3% during the second quarter. Hartford Investment Management Co. now owns 104,219 shares of the company’s stock worth $7,639,000 after buying an additional 313 shares in the last quarter. 83.05% of the stock is currently owned by institutional investors.

In other news, Director William D. Zollars sold 1,400 shares of Cerner stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $72.11, for a total value of $100,954.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Randy D. Sims sold 40,000 shares of Cerner stock in a transaction that occurred on 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 sold 441,468 shares of company stock valued at $30,777,997 in the last quarter. 0.75% of the stock is currently owned by corporate insiders.

CERN traded up $0.20 during midday trading on Tuesday, reaching $69.87. 852,436 shares of the company’s stock were exchanged, compared to its average volume of 2,248,345. Cerner Co. has a one year low of $48.78 and a one year high of $76.47. The company’s 50-day moving average is $73.18. The company has a quick ratio of 2.50, a current ratio of 2.52 and a debt-to-equity ratio of 0.22. The company has a market cap of $22.18 billion, a price-to-earnings ratio of 31.62, a price-to-earnings-growth ratio of 2.03 and a beta of 0.92.

Cerner (NASDAQ:CERN) last posted its earnings results on Wednesday, July 24th. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. Cerner had a net margin of 10.75% and a return on equity of 15.14%. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the previous year, the company posted $0.62 earnings per share. Cerner’s quarterly revenue was up 4.6% compared to the same quarter last year. Analysts predict that Cerner Co. will post 2.43 EPS for the current fiscal year.

The company also recently announced a special dividend, which was paid on Friday, July 26th. Stockholders of record on Tuesday, June 18th were paid a $0.18 dividend. The ex-dividend date of this dividend was Monday, June 17th. Cerner’s dividend payout ratio (DPR) is currently 32.58%.

CERN has been the topic of a number of recent research reports. Barclays reissued a “hold” rating and set a $68.00 target price on shares of Cerner in a research report on Wednesday, April 10th. Zacks Investment Research downgraded Cerner from a “buy” rating to a “hold” rating and set a $77.00 target price on the stock. in a research report on Monday, July 29th. ValuEngine raised Cerner from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Piper Jaffray Companies lifted their target price on Cerner from $74.00 to $80.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, Cantor Fitzgerald lifted their target price on Cerner from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Monday, July 8th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $73.36.

About Cerner

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: Treasury Bonds

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Institutional Ownership by Quarter for Cerner (NASDAQ:CERN)

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