Hartford Investment Management Co. Trims Stake in Copart, Inc. (NASDAQ:CPRT)

Hartford Investment Management Co. cut its position in shares of Copart, Inc. (NASDAQ:CPRT) by 2.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 54,858 shares of the business services provider’s stock after selling 1,104 shares during the period. Hartford Investment Management Co.’s holdings in Copart were worth $2,875,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its stake in shares of Copart by 44.1% during the first quarter. Nordea Investment Management AB now owns 2,078,277 shares of the business services provider’s stock valued at $120,602,000 after buying an additional 636,438 shares during the last quarter. Silvercrest Asset Management Group LLC grew its position in Copart by 40.6% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 37,962 shares of the business services provider’s stock valued at $2,199,000 after acquiring an additional 10,959 shares during the last quarter. Motco increased its stake in Copart by 6,085.7% in the first quarter. Motco now owns 10,392 shares of the business services provider’s stock worth $602,000 after purchasing an additional 10,224 shares during the period. Twin Tree Management LP bought a new stake in shares of Copart during the first quarter worth $3,877,000. Finally, Manning & Napier Advisors LLC purchased a new stake in shares of Copart during the second quarter valued at $109,382,000. 85.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird decreased their price objective on shares of Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a report on Thursday, September 5th.

Copart Stock Down 1.4 %

Shares of NASDAQ CPRT opened at $51.36 on Thursday. Copart, Inc. has a twelve month low of $42.41 and a twelve month high of $58.58. The firm has a market cap of $49.42 billion, a PE ratio of 36.17 and a beta of 1.27. The business has a fifty day simple moving average of $52.28 and a two-hundred day simple moving average of $53.20.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Wednesday, September 4th. The business services provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). Copart had a net margin of 32.17% and a return on equity of 19.55%. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the firm earned $0.34 earnings per share. The business’s revenue was up 7.2% compared to the same quarter last year. On average, research analysts expect that Copart, Inc. will post 1.54 earnings per share for the current year.

Copart Profile

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.