Medical software company Cerner (NASDAQ:CERN) is a hidden market gem that simply doesn’t get enough attention. While everybody and their uncle are obsessed with the latest shiny object (i.e., meme stocks), CERN stock provides value that investors can count on.

Plus, Cerner consistently offers dividend payouts.

They probably won’t make you fabulously wealthy overnight, but re-investing dividends is a good strategy that has builds accounts over time.

Besides, Cerner has a large presence in the electronic health records (EHR) market. The company has proven itself as an innovator in the cloud-based EHR niche.

And as we’ll see, Cerner shares aren’t expensive. But even if you’re not a value-focused investor or a dividend hunter, there are reasons to take a position in Cerner today.

A Closer Look at CERN Stock

CERN stock will open today at around closed at $78. Is that expensive, or cheap?

We can use a classic valuation metric to decide. Thus, Cerner’s price-to-earnings ratio (on a trailing 12-month basis) is 30.17.

That’s a fairly reasonable P/E ratio, and it suggests that CERN stock isn’t particularly expensive at the moment.

Also notable is the stock’s five-year monthly beta of 0.73. This indicates that the share price doesn’t typically move faster than the overall stock market.

So, if you’re seeking out a fast-moving stock, this isn’t what you’re looking for.

On the other hand, if you want an investment that won’t make you nervous, then CERN stock is a good pick.

Finally, I should mention that Cerner offers a forward annual dividend yield of 1.1%.

That’s a nice bonus for long-term investors who like to re-invest their dividend payments for maximum growth potential.

Addressing Urgent Needs

When it comes to facilitating EHR, you’d be hard-pressed to find another company with a market presence to match Cerner’s.

According to Cerner’s investor presentation, the company serves over 650,000 physician users as well as 2.2 million non-physician users.

Including historical records, more than 262 million longitudinal records are managed within Cerner’s HealtheIntent platform.

Given those figures, it’s probably safe to conclude that the American health care system depends on Cerner and would be in trouble if the company didn’t exist.

This has been particularly true during the era of the Covid-19 pandemic crisis.

During this crisis, Cerner facilitated the delivery and management of Covid-19 vaccines in the U.K.

In the U.S., Cerner provided the CDC with support for national projections and policy analysis.

Plus, more than 30 academic organizations accessed Cerner’s data-driven tools to help improve treatment and testing.

Optimistic Guidance

All in all, the Covid-19 pandemic reminded the stakeholders that the health care system needs fast, reliable access to medical records and other crucial data – and that Cerner is responsive to this need.

But does all of this translate to strong revenues? The answer is a definite yes.

For the first quarter of 2021, Cerner posted revenues of $1.388 billion. Also, the company reported GAAP diluted earnings per share of 56 cents, up 19% compared to the year-ago quarter.

Importantly, the company recorded free cash flow (non-GAAP) of $291 million. That’s 81% higher than what was reported during the comparable quarter of 2020.

Looking ahead, Cerner expects second-quarter 2021 revenue growth in the high-single digits compared to 2020’s second quarter.

And for the full year of 2021, the company’s outlook models revenue growth in the mid-single digits.

The Bottom Line

As we’ve discovered, Cerner is justifiably preparing for steady revenue growth in the coming months.

If you’re on the hunt for shiny objects and moon shots, then CERN stock probably isn’t for you.

But then, maybe it’s time to consider Cerner as this dividend-paying company can help you build your investment account – not overnight, but slowly and reliably.

On the date of publication, David Moadel did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.