Copart, Inc. (NASDAQ:CPRT) Position Decreased by Boston Financial Mangement LLC

Boston Financial Mangement LLC lowered its holdings in Copart, Inc. (NASDAQ:CPRT) by 0.9% in the third quarter, Holdings Channel.com reports. The firm owned 1,989,991 shares of the business services provider’s stock after selling 18,923 shares during the period. Copart accounts for 3.1% of Boston Financial Mangement LLC’s investment portfolio, making the stock its 5th largest holding. Boston Financial Mangement LLC’s holdings in Copart were worth $104,276,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Optimum Investment Advisors raised its holdings in shares of Copart by 141.5% in the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock worth $27,000 after purchasing an additional 300 shares during the period. Eastern Bank purchased a new position in Copart in the third quarter valued at approximately $29,000. Crewe Advisors LLC raised its holdings in Copart by 98.6% in the second quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock valued at $31,000 after buying an additional 280 shares during the period. Meeder Asset Management Inc. lifted its position in Copart by 283.3% during the second quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock valued at $31,000 after buying an additional 425 shares in the last quarter. Finally, Versant Capital Management Inc grew its stake in Copart by 477.7% during the second quarter. Versant Capital Management Inc now owns 595 shares of the business services provider’s stock worth $32,000 after buying an additional 492 shares during the period. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Copart Stock Performance

Shares of NASDAQ:CPRT opened at $51.85 on Tuesday. The business’s 50-day simple moving average is $52.30 and its 200 day simple moving average is $53.07. The company has a market cap of $49.95 billion, a P/E ratio of 36.51 and a beta of 1.27. Copart, Inc. has a one year low of $42.41 and a one year high of $58.58.

Copart (NASDAQ:CPRT) last posted its earnings results on Wednesday, September 4th. The business services provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. Copart had a return on equity of 19.55% and a net margin of 32.17%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.34 earnings per share. Analysts predict 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.