State of Tennessee Treasury Department Has $7.89 Million Stock Position in Cerner Co. (NASDAQ:CERN)

State of Tennessee Treasury Department raised its holdings in Cerner Co. (NASDAQ:CERN) by 0.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 107,545 shares of the company’s stock after buying an additional 131 shares during the quarter. State of Tennessee Treasury Department’s holdings in Cerner were worth $7,893,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Eagle Asset Management Inc. bought a new position in Cerner in the 3rd quarter valued at $67,620,000. Carillon Tower Advisers Inc. bought a new stake in shares of Cerner during the third quarter worth $52,774,000. PGGM Investments bought a new stake in shares of Cerner during the fourth quarter worth $34,498,000. Starboard Value LP raised its position in shares of Cerner by 10.8% during the third quarter. Starboard Value LP now owns 3,325,000 shares of the company’s stock worth $226,665,000 after acquiring an additional 325,000 shares during the last quarter. Finally, Boston Trust Walden Corp grew its stake in shares of Cerner by 205.5% during the fourth quarter. Boston Trust Walden Corp now owns 333,954 shares of the company’s stock worth $24,509,000 after purchasing an additional 224,624 shares during the period. 81.70% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:CERN traded up $0.58 on Monday, reaching $77.07. The company’s stock had a trading volume of 3,081,393 shares, compared to its average volume of 1,990,540. Cerner Co. has a 1-year low of $54.22 and a 1-year high of $80.90. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.02 and a current ratio of 2.04. The firm has a market cap of $24.04 billion, a PE ratio of 46.71, a PEG ratio of 1.98 and a beta of 0.97. The business’s 50-day moving average price is $74.72 and its two-hundred day moving average price is $70.60.

Cerner (NASDAQ:CERN) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.01. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Cerner had a return on equity of 16.66% and a net margin of 9.30%. Cerner’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.63 earnings per share. As a group, sell-side analysts expect that Cerner Co. will post 2.85 EPS for the current year.

A number of equities research analysts recently commented on CERN shares. Bank of America set a $83.00 price objective on Cerner and gave the stock a “buy” rating in a research note on Friday, October 25th. Royal Bank of Canada started coverage on Cerner in a research note on Wednesday, November 27th. They set an “outperform” rating and a $80.00 price objective for the company. Robert W. Baird lifted their price objective on Cerner from $72.00 to $85.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 5th. Piper Sandler lifted their price objective on Cerner from to in a research note on Wednesday, February 5th. Finally, Cfra lifted their price objective on Cerner from $72.00 to $76.00 and gave the stock a “hold” rating in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. Cerner has an average rating of “Buy” and a consensus price target of $78.71.

In other news, CAO Michael R. Battaglioli sold 10,000 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $72.06, for a total transaction of $720,600.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,226 shares of the company’s stock, valued at $448,645.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Donald Trigg sold 17,400 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $78.94, for a total value of $1,373,556.00. The disclosure for this sale can be found here. Insiders have sold 513,617 shares of company stock valued at $39,627,013 over the last ninety days. 0.75% of the stock is owned by insiders.

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.

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Institutional Ownership by Quarter for Cerner (NASDAQ:CERN)

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