Harfst & Associates Inc. Sells 4,348 Shares of Copart, Inc. (NASDAQ:CPRT)

Harfst & Associates Inc. reduced its stake in Copart, Inc. (NASDAQ:CPRT) by 41.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,018 shares of the business services provider’s stock after selling 4,348 shares during the period. Harfst & Associates Inc.’s holdings in Copart were worth $315,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Manning & Napier Advisors LLC bought a new position in shares of Copart in the 2nd quarter worth approximately $109,382,000. Price T Rowe Associates Inc. MD raised its holdings in Copart by 28.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,861,282 shares of the business services provider’s stock worth $397,406,000 after purchasing an additional 1,500,466 shares in the last quarter. TD Asset Management Inc lifted its position in Copart by 43.3% during the first quarter. TD Asset Management Inc now owns 4,862,147 shares of the business services provider’s stock valued at $281,616,000 after buying an additional 1,469,292 shares during the period. Kimelman & Baird LLC bought a new stake in shares of Copart during the 2nd quarter valued at $70,307,000. Finally, Bank of New York Mellon Corp grew its position in shares of Copart by 8.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 16,008,444 shares of the business services provider’s stock worth $867,017,000 after buying an additional 1,199,781 shares during the period. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Stock Up 0.4 %

Shares of NASDAQ CPRT traded up $0.19 during trading on Friday, reaching $53.88. The company had a trading volume of 8,538,483 shares, compared to its average volume of 4,504,438. The business’s 50-day moving average is $52.22 and its 200 day moving average is $53.31. The stock has a market cap of $51.85 billion, a PE ratio of 37.94 and a beta of 1.27. Copart, Inc. has a 12-month low of $42.41 and a 12-month high of $58.58.

Copart (NASDAQ:CPRT) last issued its earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). Copart had a return on equity of 19.55% and a net margin of 32.17%. 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 prior year, the company posted $0.34 EPS. The company’s quarterly revenue was up 7.2% on a year-over-year basis. On average, analysts anticipate that Copart, Inc. will post 1.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird lowered their price target on shares of Copart from $58.00 to $56.00 and set an “outperform” rating for the company 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.