Capital Investment Services Of America Lowers stake in Cerner Corporation (CERN)

Cerner Corporation (CERN) : Capital Investment Services Of America reduced its stake in Cerner Corporation by 0.86% during the most recent quarter end. The investment management company now holds a total of 207,810 shares of Cerner Corporation which is valued at $12,703,425 after selling 1,810 shares in Cerner Corporation , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Cerner Corporation makes up approximately 2.44% of Capital Investment Services Of America’s portfolio.

Other Hedge Funds, Including , Advisory Services Network boosted its stake in CERN in the latest quarter, The investment management firm added 360 additional shares and now holds a total of 1,263 shares of Cerner Corporation which is valued at $77,207. Cerner Corporation makes up approx 0.01% of Advisory Services Network’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in CERN in the latest quarter, The investment management firm added 125,285 additional shares and now holds a total of 156,519 shares of Cerner Corporation which is valued at $9,586,789. Cerner Corporation makes up approx 0.04% of Bnp Paribas Arbitrage Sa’s portfolio. Eqis Capital Management added CERN to its portfolio by purchasing 4,549 company shares during the most recent quarter which is valued at $278,626. Cerner Corporation makes up approx 0.02% of Eqis Capital Management’s portfolio.Beacon Financial Group reduced its stake in CERN by selling 209 shares or 3.37% in the most recent quarter. The Hedge Fund company now holds 5,991 shares of CERN which is valued at $366,949. Cerner Corporation makes up approx 0.08% of Beacon Financial Group’s portfolio.

Cerner Corporation opened for trading at $61.17 and hit $61.23 on the upside on Friday, eventually ending the session at $61.13, with a gain of 0.44% or 0.27 points. The heightened volatility saw the trading volume jump to 11,27,595 shares. Company has a market cap of $20,644 M.

On the company’s financial health, Cerner Corporation reported $0.58 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.57. The company had revenue of $1216.00 million for the quarter, compared to analysts expectations of $1209.57 million. The company’s revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS.

Many Wall Street Analysts have commented on Cerner Corporation. BofA/Merrill Initiated Cerner Corporation on Sep 19, 2016 to “Buy”, Price Target of the shares are set at $67.Cerner Corporation was Resumed by Stifel to “Hold” on Aug 31, 2016. Company shares were Reiterated by Deutsche Bank on Aug 15, 2016 to “Buy”, Firm has raised the Price Target to $ 70 from a previous price target of $66 .

Cerner Corporation (Cerner) is a supplier of health care information technology (HCIT). The Company offers a range of intelligent solutions and services that support the clinical financial and operational needs of organizations. The Company offers software hardware professional services and managed services. The Company operates in two segments: Domestic and Global. The Domestic segment includes the business activity in the United States. The Global segment includes the business activity in Aruba Australia Austria Brazil Canada Cayman Islands Chile Egypt England Finland France Germany Guam India Ireland Israel Malaysia Mexico Netherlands Qatar Saudi Arabia Singapore Spain Switzerland and the United Arab Emirates. Cerner solutions are offered on the unified Cerner Millennium architecture and on the HealtheIntent cloud-based platform. Its solutions include HealtheRegistries Cerner ITWorks Cerner RevWorks PowerWorks and CommunityWorks among others.

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