New Century Financial Group LLC Decreases Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

New Century Financial Group LLC lowered its position in shares of Copart, Inc. (NASDAQ:CPRT) by 22.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,369 shares of the business services provider’s stock after selling 1,275 shares during the period. New Century Financial Group LLC’s holdings in Copart were worth $253,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CPRT. Rise Advisors LLC bought a new position in Copart in the 1st quarter valued at approximately $28,000. Pinnacle Bancorp Inc. boosted its position in shares of Copart by 79.6% in the first quarter. Pinnacle Bancorp Inc. now owns 528 shares of the business services provider’s stock worth $31,000 after purchasing an additional 234 shares during the period. Fortitude Family Office LLC purchased a new stake in shares of Copart in the fourth quarter worth $34,000. Indiana Trust & Investment Management CO bought a new stake in shares of Copart during the 1st quarter valued at $36,000. Finally, Trust Co. of Vermont purchased a new position in shares of Copart during the 4th quarter valued at $38,000. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. boosted their target price on Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $51.00.

Copart Price Performance

CPRT opened at $53.89 on Friday. The business’s 50-day moving average is $54.23 and its two-hundred day moving average is $52.71. Copart, Inc. has a 1 year low of $42.41 and a 1 year high of $58.58. The firm has a market capitalization of $51.86 billion, a PE ratio of 37.95 and a beta of 1.27.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, May 16th. The business services provider reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. Copart had a return on equity of 20.80% and a net margin of 33.33%. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter last year, the firm earned $0.36 EPS. The business’s quarterly revenue was up 10.3% on a year-over-year basis. As a group, sell-side analysts expect that Copart, Inc. will post 1.43 EPS for the current year.

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.