Professional Advisory Services INC Increased Cerner Corporation (NASDAQ:CERN) by $4.59 Million as Shares Declined


Professional Advisory Services Inc increased its stake in Cerner Corporation (NASDAQ:CERN) by 66.99% based on its latest 2016Q2 regulatory filing with the SEC. Professional Advisory Services Inc bought 88,364 shares as the company’s stock declined 8.94% while stock markets rallied. The institutional investor held 220,261 shares of the edp services company at the end of 2016Q2, valued at $11.67 million, up from 131,897 at the end of the previous reported quarter. Professional Advisory Services Inc who had been investing in Cerner Corporation for a number of months, seems to be bullish on the $21.15 billion market cap company. The stock is down 1.23% or $0.77 hitting $62.04, despite the positive news. About 158,262 shares traded hands. Cerner Corporation (NASDAQ:CERN) has risen 15.69% since February 8, 2016 and is uptrending. It has underperformed by 0.79% the S&P500.

The institutional sentiment increased to 1.19 in Q2 2016. Its up 0.02, from 1.17 in 2016Q1. The ratio improved, as 55 funds sold all CERN shares owned while 203 reduced positions. 71 funds bought stakes while 236 increased positions. They now own 261.84 million shares or 1.43% less from 265.64 million shares in 2016Q1.

Sandhill Capital Partners Llc holds 3.91% of its portfolio in CERN for 213,291 shares. Mitchell Capital Management Co owns 162,121 shares or 3.8% of their US portfolio. Moreover, Manning & Napier Advisors Llc has 3.02% invested in the company for 8.50 million shares. The Florida-based Professional Advisory Services Inc has invested 2.98% in the stock. Scharf Investments Llc, a California-based fund reported 2.22 million shares.

Out of 15 analysts covering Cerner Corporation (NASDAQ:CERN), 13 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 87% are positive. Cerner Corporation has been the topic of 24 analyst reports since September 15, 2015 according to StockzIntelligence Inc. Stifel Nicolaus reinitiated the stock on August 31 with “Hold” rating.

Cerner Corporation is a supplier of healthcare information technology . The company has a market cap of $21.15 billion. The Firm offers a range of intelligent solutions and services that support the clinical, financial and operational needs of organizations. It has a 34.18 P/E ratio. The Company’s divisions include Domestic and Global.

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