Alta Capital Management Lowers stake in Cerner Corporation (CERN)

Cerner Corporation (CERN) : Alta Capital Management reduced its stake in Cerner Corporation by 0.83% during the most recent quarter end. The investment management company now holds a total of 265,636 shares of Cerner Corporation which is valued at $16,272,861 after selling 2,224 shares in Cerner Corporation , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.Cerner Corporation makes up approximately 1.03% of Alta Capital Management’s portfolio.

Other Hedge Funds, Including , Community Bank N.a. reduced its stake in CERN by selling 225 shares or 45.92% in the most recent quarter. The Hedge Fund company now holds 265 shares of CERN which is valued at $16,234.Nisa Investment Advisors boosted its stake in CERN in the latest quarter, The investment management firm added 4,930 additional shares and now holds a total of 93,452 shares of Cerner Corporation which is valued at $5,675,340. Cerner Corporation makes up approx 0.07% of Nisa Investment Advisors’s portfolio.Washington Trust Bank boosted its stake in CERN in the latest quarter, The investment management firm added 13 additional shares and now holds a total of 3,664 shares of Cerner Corporation which is valued at $224,420. Cerner Corporation makes up approx 0.05% of Washington Trust Bank’s portfolio.

Cerner Corporation closed down -1.06 points or -1.72% at $60.73 with 15,59,499 shares getting traded on Tuesday. Post opening the session at $62.53, the shares hit an intraday low of $60.26 and an intraday high of $62.53 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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. 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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