Commerce Bank buys $48,769,787 stake in Cerner Corporation (CERN)

Cerner Corporation (CERN) : Commerce Bank scooped up 18,101 additional shares in Cerner Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 9, 2016. The investment management firm now holds a total of 727,256 shares of Cerner Corporation which is valued at $48,769,787.Cerner Corporation makes up approximately 0.75% of Commerce Bank’s portfolio.

Other Hedge Funds, Including , Tributary Capital Management boosted its stake in CERN in the latest quarter, The investment management firm added 1,700 additional shares and now holds a total of 20,600 shares of Cerner Corporation which is valued at $1,381,436. Cerner Corporation makes up approx 0.19% of Tributary Capital Management’s portfolio.Assetmark Inc boosted its stake in CERN in the latest quarter, The investment management firm added 326 additional shares and now holds a total of 1,024 shares of Cerner Corporation which is valued at $68,669. Armbruster Capital Management sold out all of its stake in CERN during the most recent quarter. The investment firm sold 230 shares of CERN which is valued $14,350. Oakbrook Investments added CERN to its portfolio by purchasing 4,500 company shares during the most recent quarter which is valued at $278,775. Cerner Corporation makes up approx 0.01% of Oakbrook Investments’s portfolio.Cutler Group Lp boosted its stake in CERN in the latest quarter, The investment management firm added 10,267 additional shares and now holds a total of 12,307 shares of Cerner Corporation which is valued at $742,851. Cerner Corporation makes up approx 0.05% of Cutler Group Lp’s portfolio.

Cerner Corporation closed down -0.62 points or -0.94% at $65.36 with 24,70,638 shares getting traded on Wednesday. Post opening the session at $66.24, the shares hit an intraday low of $64.92 and an intraday high of $66.25 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

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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