Chevy Chase Trust Holdings Inc. Invests $16.28 Million in Cerner Co. (CERN) Stock

Chevy Chase Trust Holdings Inc. purchased a new stake in Cerner Co. (NASDAQ:CERN) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 272,241 shares of the company’s stock, valued at approximately $16,277,000.

A number of other large investors have also recently made changes to their positions in CERN. Summit Trail Advisors LLC boosted its holdings in Cerner by 5,166.1% in the 1st quarter. Summit Trail Advisors LLC now owns 1,980,457 shares of the company’s stock valued at $1,980,000 after purchasing an additional 1,942,849 shares during the period. Loomis Sayles & Co. L P boosted its holdings in Cerner by 18.0% in the 1st quarter. Loomis Sayles & Co. L P now owns 12,297,860 shares of the company’s stock valued at $713,276,000 after purchasing an additional 1,877,563 shares during the period. Rockefeller Capital Management L.P. bought a new position in Cerner in the 1st quarter valued at $81,329,000. Old Mutual Global Investors UK Ltd. bought a new position in Cerner in the 1st quarter valued at $62,557,000. Finally, LGT Capital Partners LTD. bought a new position in Cerner in the 2nd quarter valued at $58,038,000. 78.26% of the stock is owned by hedge funds and other institutional investors.

Cerner opened at $66.29 on Friday, MarketBeat Ratings reports. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.83 and a current ratio of 2.85. The firm has a market cap of $21.70 billion, a PE ratio of 30.39, a P/E/G ratio of 2.09 and a beta of 0.98. Cerner Co. has a fifty-two week low of $52.05 and a fifty-two week high of $73.86.



Cerner (NASDAQ:CERN) last posted its quarterly earnings data on Thursday, August 2nd. The company reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02. The firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Cerner had a net margin of 16.06% and a return on equity of 15.26%. The business’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the company posted $0.61 EPS. equities analysts forecast that Cerner Co. will post 2.28 earnings per share for the current year.

Several research analysts have commented on the stock. Canaccord Genuity raised their price target on shares of Cerner from $64.00 to $71.00 and gave the company a “buy” rating in a report on Friday, August 3rd. Stifel Nicolaus raised their price target on shares of Cerner from $62.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, July 25th. Jefferies Financial Group set a $68.00 price target on shares of Cerner and gave the company a “buy” rating in a report on Friday, May 18th. KeyCorp cut their price target on shares of Cerner from $76.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, May 3rd. Finally, ValuEngine raised shares of Cerner from a “sell” rating to a “hold” rating in a report on Saturday, June 16th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $71.04.

In other news, Vice Chairman Clifford W. Illig sold 205,600 shares of the firm’s stock in a transaction on Thursday, June 7th. The shares were sold at an average price of $60.26, for a total transaction of $12,389,456.00. Following the sale, the insider now owns 1,229,719 shares in the company, valued at approximately $74,102,866.94. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William D. Zollars sold 3,900 shares of the firm’s stock in a transaction on Monday, May 21st. The shares were sold at an average price of $60.80, for a total transaction of $237,120.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 280,748 shares of company stock worth $17,002,795. Corporate insiders own 4.71% of the company’s stock.

Cerner 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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Institutional Ownership by Quarter for Cerner (NASDAQ:CERN)

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