Wasatch Advisors Inc. reduced its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 9.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,303,866 shares of the business services provider’s stock after selling 335,202 shares during the quarter. Copart makes up about 1.9% of Wasatch Advisors Inc.’s holdings, making the stock its 11th largest position. Wasatch Advisors Inc.’s holdings in Copart were worth $170,248,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Pinnacle Financial Partners Inc. bought a new stake in Copart during the third quarter worth $109,000. Cornerstone Advisors Inc. lifted its holdings in Copart by 88.5% during the second quarter. Cornerstone Advisors Inc. now owns 1,972 shares of the business services provider’s stock worth $112,000 after acquiring an additional 926 shares during the period. First Hawaiian Bank bought a new stake in Copart during the third quarter worth $117,000. TRUE Private Wealth Advisors bought a new stake in Copart during the third quarter worth $118,000. Finally, Bessemer Group Inc. lifted its holdings in Copart by 2,739.4% during the third quarter. Bessemer Group Inc. now owns 2,669 shares of the business services provider’s stock worth $137,000 after acquiring an additional 2,575 shares during the period. Institutional investors and hedge funds own 82.24% of the company’s stock.

CPRT has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Copart from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a report on Tuesday, July 17th. BidaskClub lowered Copart from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. Northcoast Research reiterated a “neutral” rating on shares of Copart in a report on Monday, September 17th. Barrington Research restated a “hold” rating on shares of Copart in a research note on Tuesday, September 18th. Finally, SunTrust Banks set a $63.00 target price on Copart and gave the company a “buy” rating in a research note on Thursday, September 20th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. Copart currently has a consensus rating of “Hold” and a consensus price target of $55.14.

Shares of CPRT traded down $0.25 during mid-day trading on Tuesday, hitting $49.02. The stock had a trading volume of 98,845 shares, compared to its average volume of 1,671,723. The firm has a market cap of $11.76 billion, a PE ratio of 28.34, a PEG ratio of 1.02 and a beta of 1.01. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.56 and a quick ratio of 2.50. Copart, Inc. has a 52 week low of $35.44 and a 52 week high of $67.08.

Copart (NASDAQ:CPRT) last issued its earnings results on Wednesday, September 19th. The business services provider reported $0.42 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.06). The firm had revenue of $449.20 million during the quarter, compared to the consensus estimate of $448.64 million. Copart had a net margin of 23.14% and a return on equity of 29.92%. The business’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.35 earnings per share. Sell-side analysts anticipate that Copart, Inc. will post 2.13 earnings per share for the current fiscal year.

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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 to vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as for individual owners.

Further Reading: Why do company’s buyback their stock?

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Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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