Gulf International Bank UK Ltd boosted its position in Cerner Co. (NASDAQ:CERN) by 10.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,477 shares of the company’s stock after buying an additional 9,886 shares during the period. Gulf International Bank UK Ltd’s holdings in Cerner were worth $6,536,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of CERN. Icon Wealth Partners LLC bought a new stake in Cerner during the 2nd quarter worth approximately $102,000. Moneta Group Investment Advisors LLC increased its holdings in Cerner by 3,608.5% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 31,411 shares of the company’s stock worth $124,000 after purchasing an additional 30,564 shares in the last quarter. CWM LLC increased its holdings in Cerner by 880.5% during the 2nd quarter. CWM LLC now owns 2,510 shares of the company’s stock worth $150,000 after purchasing an additional 2,254 shares in the last quarter. Alpha Windward LLC bought a new stake in Cerner during the 2nd quarter worth approximately $160,000. Finally, Qube Research & Technologies Ltd increased its holdings in Cerner by 85.4% during the 2nd quarter. Qube Research & Technologies Ltd now owns 2,898 shares of the company’s stock worth $173,000 after purchasing an additional 1,335 shares in the last quarter. 76.33% of the stock is owned by institutional investors and hedge funds.
In other news, Vice Chairman Clifford W. Illig sold 250,000 shares of the business’s stock in a transaction that occurred on Friday, November 2nd. The stock was sold at an average price of $57.53, for a total value of $14,382,500.00. Following the transaction, the insider now owns 1,229,719 shares in the company, valued at approximately $70,745,734.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Zane M. Burke sold 381,139 shares of the business’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $64.05, for a total value of $24,411,952.95. Following the completion of the transaction, the president now owns 59,539 shares in the company, valued at approximately $3,813,472.95. The disclosure for this sale can be found here. Insiders sold a total of 1,134,070 shares of company stock worth $71,159,251 in the last 90 days. Company insiders own 4.71% of the company’s stock.
Shares of NASDAQ CERN opened at $57.57 on Friday. Cerner Co. has a twelve month low of $50.91 and a twelve month high of $73.43. The company has a market capitalization of $19.29 billion, a PE ratio of 26.98, a price-to-earnings-growth ratio of 1.91 and a beta of 0.96. The company has a current ratio of 2.63, a quick ratio of 2.60 and a debt-to-equity ratio of 0.09.
CERN has been the subject of a number of recent research reports. Cantor Fitzgerald reissued a “buy” rating and set a $80.00 price objective on shares of Cerner in a report on Wednesday, September 12th. Piper Jaffray Companies reissued a “buy” rating and set a $71.00 price objective on shares of Cerner in a report on Friday, August 3rd. Canaccord Genuity boosted their price objective on Cerner from $64.00 to $71.00 and gave the stock a “buy” rating in a report on Friday, August 3rd. Royal Bank of Canada reissued a “buy” rating and set a $72.00 price objective on shares of Cerner in a report on Friday, August 3rd. Finally, Barclays initiated coverage on Cerner in a report on Thursday, September 13th. They set an “equal weight” rating and a $70.00 price objective for the company. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $69.98.
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Cerner Company Profile
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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