CX Institutional Reduces Holdings in Copart, Inc. (NASDAQ:CPRT)

CX Institutional lessened its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 28.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,059 shares of the business services provider’s stock after selling 5,217 shares during the quarter. CX Institutional’s holdings in Copart were worth $684,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Rise Advisors LLC purchased a new stake in Copart during the 1st quarter worth about $28,000. Pinnacle Bancorp Inc. lifted its stake in shares of Copart by 79.6% during the first quarter. Pinnacle Bancorp Inc. now owns 528 shares of the business services provider’s stock valued at $31,000 after buying an additional 234 shares during the period. Crewe Advisors LLC grew its stake in Copart by 98.6% in the 2nd quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock worth $31,000 after acquiring an additional 280 shares during the period. Meeder Asset Management Inc. raised its holdings in Copart by 283.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 425 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in shares of Copart by 477.7% during the 2nd quarter. Versant Capital Management Inc now owns 595 shares of the business services provider’s stock worth $32,000 after purchasing an additional 492 shares during the period. 85.78% of the stock is owned by institutional investors and hedge funds.

Copart Stock Down 0.6 %

Shares of CPRT opened at $54.54 on Thursday. Copart, Inc. has a fifty-two week low of $42.41 and a fifty-two week high of $58.58. The company’s fifty day moving average is $52.09 and its two-hundred day moving average is $53.34. The firm has a market cap of $52.48 billion, a PE ratio of 38.41 and a beta of 1.27.

Copart (NASDAQ:CPRT) last issued its earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. Copart had a net margin of 32.17% and a return on equity of 19.55%. Copart’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.34 EPS. As a group, equities research analysts anticipate that Copart, Inc. will post 1.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird reduced their target price on Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th.

About Copart

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.