Ashfield Capital Partners Lowers stake in Cerner Corporation (CERN)

Cerner Corporation (CERN) : Ashfield Capital Partners reduced its stake in Cerner Corporation by 15.73% during the most recent quarter end. The investment management company now holds a total of 322,928 shares of Cerner Corporation which is valued at $21,655,552 after selling 60,270 shares in Cerner Corporation , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Cerner Corporation makes up approximately 1.65% of Ashfield Capital Partners’s portfolio.

Other Hedge Funds, Including , Central Trust Co boosted its stake in CERN in the latest quarter, The investment management firm added 565 additional shares and now holds a total of 27,000 shares of Cerner Corporation which is valued at $1,810,620. Cerner Corporation makes up approx 0.13% of Central Trust Co’s portfolio.Ci Global Investments boosted its stake in CERN in the latest quarter, The investment management firm added 40,243 additional shares and now holds a total of 2,457,492 shares of Cerner Corporation which is valued at $164,332,490. Cerner Corporation makes up approx 4.35% of Ci Global Investments’s portfolio. Kalos Management added CERN to its portfolio by purchasing 6,511 company shares during the most recent quarter which is valued at $431,679. Cerner Corporation makes up approx 0.33% of Kalos Management’s portfolio. Ramsay Stattman Vela Price added CERN to its portfolio by purchasing 3,500 company shares during the most recent quarter which is valued at $216,825. Cerner Corporation makes up approx 0.10% of Ramsay Stattman Vela Price’s portfolio. Donald L. Hagan sold out all of its stake in CERN during the most recent quarter. The investment firm sold 336 shares of CERN which is valued $20,815.

Cerner Corporation opened for trading at $66.46 and hit $66.79 on the upside on Monday, eventually ending the session at $66.61, with a gain of 0.24% or 0.16 points. The heightened volatility saw the trading volume jump to 25,15,234 shares. Company has a market cap of $22,495 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. 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 .Company shares were Reiterated by Barclays on Aug 3, 2016 to “Overweight”, Firm has raised the Price Target to $ 67 from a previous price target of $55 .Cerner Corporation was Downgraded by Raymond James to ” Mkt Perform” on Jul 5, 2016.

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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