Montag & Caldwell LLC reduced its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 46.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 2,864 shares of the business services provider’s stock after selling 2,452 shares during the quarter. Montag & Caldwell LLC’s holdings in Copart were worth $214,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Icon Wealth Partners LLC acquired a new position in shares of Copart during the 1st quarter worth about $34,000. Cordasco Financial Network boosted its position in shares of Copart by 170.7% during the 2nd quarter. Cordasco Financial Network now owns 471 shares of the business services provider’s stock worth $35,000 after acquiring an additional 297 shares in the last quarter. Meridian Wealth Management LLC acquired a new position in shares of Copart during the 1st quarter worth about $40,000. Quadrant Capital Group LLC boosted its position in shares of Copart by 170.3% during the 1st quarter. Quadrant Capital Group LLC now owns 1,181 shares of the business services provider’s stock worth $67,000 after acquiring an additional 744 shares in the last quarter. Finally, Kavar Capital Partners LLC acquired a new position in shares of Copart during the 2nd quarter worth about $76,000. 83.78% of the stock is owned by institutional investors and hedge funds.

Shares of Copart stock traded up $0.28 on Thursday, hitting $74.59. The stock had a trading volume of 39,116 shares, compared to its average volume of 1,215,999. Copart, Inc. has a 52-week low of $44.61 and a 52-week high of $79.74. The company has a current ratio of 2.07, a quick ratio of 1.99 and a debt-to-equity ratio of 0.25. The firm has a market cap of $17.03 billion, a PE ratio of 43.18, a price-to-earnings-growth ratio of 1.50 and a beta of 0.82. The business has a 50 day moving average price of $76.35.

Copart (NASDAQ:CPRT) last posted its earnings results on Wednesday, May 22nd. The business services provider reported $0.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.05. Copart had a return on equity of 31.33% and a net margin of 28.12%. The business had revenue of $553.12 million during the quarter, compared to the consensus estimate of $535.62 million. During the same period in the previous year, the business earned $0.52 EPS. The business’s quarterly revenue was up 15.7% on a year-over-year basis. As a group, research analysts predict that Copart, Inc. will post 2.21 EPS for the current fiscal year.

CPRT has been the subject of several analyst reports. Guggenheim cut Copart from a “buy” rating to a “neutral” rating and set a $67.07 price objective for the company. in a research report on Friday, May 17th. BidaskClub downgraded Copart from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Zacks Investment Research raised Copart from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a report on Monday, May 27th. Barrington Research reissued a “hold” rating on shares of Copart in a report on Friday, May 24th. Finally, SunTrust Banks boosted their target price on Copart to $78.00 and gave the company a “buy” rating in a report on Friday, May 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $66.77.

In other news, insider William E. Franklin sold 8,993 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $75.01, for a total value of $674,564.93. Following the completion of the sale, the insider now directly owns 26,960 shares of the company’s stock, valued at approximately $2,022,269.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William E. Franklin sold 41,007 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $77.37, for a total value of $3,172,711.59. Following the sale, the insider now directly owns 58,974 shares of the company’s stock, valued at $4,562,818.38. The disclosure for this sale can be found here. Insiders sold a total of 423,458 shares of company stock valued at $31,198,755 over the last three months. Company insiders own 15.99% of the company’s stock.

Copart Company 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.

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Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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