Copart, Inc. (NASDAQ:CPRT) Shares Sold by Bank of Montreal Can

Bank of Montreal Can reduced its stake in Copart, Inc. (NASDAQ:CPRT) by 2.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,394,872 shares of the business services provider’s stock after selling 28,339 shares during the period. Bank of Montreal Can’s holdings in Copart were worth $72,617,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CPRT. Optimum Investment Advisors grew its position in shares of Copart by 141.5% during the third quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock worth $27,000 after buying an additional 300 shares in the last quarter. Eastern Bank acquired a new position in Copart during the 3rd quarter worth approximately $29,000. Crewe Advisors LLC increased its position in shares of Copart by 98.6% in the 2nd quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 280 shares during the last quarter. Meeder Asset Management Inc. raised its holdings in shares of Copart by 283.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 425 shares in the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of 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 purchasing an additional 492 shares in the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CPRT shares. JPMorgan Chase & Co. raised their price target on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Robert W. Baird decreased their target price on Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th.

Copart Stock Performance

Shares of CPRT stock opened at $63.80 on Wednesday. The stock’s 50-day moving average is $54.07 and its two-hundred day moving average is $53.24. Copart, Inc. has a 1 year low of $46.21 and a 1 year high of $64.19. The firm has a market cap of $61.46 billion, a price-to-earnings ratio of 44.93 and a beta of 1.27.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share (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 analysts’ expectations of $1.07 billion. Copart had a return on equity of 18.96% and a net margin of 31.92%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.34 EPS. As a group, research analysts predict that Copart, Inc. will post 1.55 EPS for the current year.

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.