Report
Vishnu Lekraj
EUR 101.80 For Business Accounts Only

In line Quarter for Cerner; Solid Sales but Margins Moderately Fall, New CEO to Be Announced Soon

Cerner reported results that fell in line with our expectations and we are reiterating our $66 fair value and wide moat rating for the firm. The firm experienced strong growth in its bookings and backlog; signaling a solid foundation for future growth. However, the bookings to revenue ratio increased moderately during the quarter. In isolation this is not a major concern, but we believe it further signals clients are seeking more value from their IT services which could slow revenue growth for C...
Underlying
Cerner Corporation

Cerner designs, develops, markets, installs, hosts and supports health care information technology, health care devices, hardware and content solutions for health care organizations and consumers. The company also provides a range of services, including implementation and training, remote hosting, operational management services, revenue cycle services, support and maintenance, transaction processing, employer health centers, employee wellness programs and third party administrator services for employer-based health plans. The company has two operating segments: Domestic, which includes business activity in the United States; and International, which includes business activity outside the United States.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Vishnu Lekraj

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