Parallel Advisors LLC Has $688,000 Holdings in Copart, Inc. (NASDAQ:CPRT)

Parallel Advisors LLC boosted its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 5.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,707 shares of the business services provider’s stock after buying an additional 624 shares during the quarter. Parallel Advisors LLC’s holdings in Copart were worth $688,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CPRT. Cadence Bank raised its position in shares of Copart by 0.6% during the first quarter. Cadence Bank now owns 31,371 shares of the business services provider’s stock worth $1,817,000 after acquiring an additional 187 shares during the last quarter. WASHINGTON TRUST Co increased its position in Copart by 0.3% during the 2nd quarter. WASHINGTON TRUST Co now owns 61,852 shares of the business services provider’s stock valued at $3,350,000 after purchasing an additional 200 shares during the period. Spinnaker Trust raised its holdings in Copart by 4.0% during the 2nd quarter. Spinnaker Trust now owns 5,222 shares of the business services provider’s stock worth $283,000 after purchasing an additional 200 shares during the last quarter. Values First Advisors Inc. boosted its stake in shares of Copart by 2.9% in the 2nd quarter. Values First Advisors Inc. now owns 7,098 shares of the business services provider’s stock valued at $384,000 after purchasing an additional 201 shares during the last quarter. Finally, Burney Co. increased its position in shares of Copart by 1.4% during the second quarter. Burney Co. now owns 15,001 shares of the business services provider’s stock worth $812,000 after buying an additional 206 shares during the period. Institutional investors own 85.78% of the company’s stock.

Analysts Set New Price Targets

Separately, Robert W. Baird dropped 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 Down 1.0 %

Copart stock opened at $49.75 on Tuesday. The company has a market capitalization of $47.87 billion, a PE ratio of 35.04 and a beta of 1.27. The firm’s fifty day moving average is $51.75 and its 200 day moving average is $53.78. Copart, Inc. has a 12-month low of $42.41 and a 12-month high of $58.58.

Copart (NASDAQ:CPRT) last released its quarterly earnings data 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). Copart had a return on equity of 19.55% and a net margin of 32.17%. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the company earned $0.34 EPS. Copart’s revenue for the quarter was up 7.2% compared to the same quarter last year. Sell-side analysts expect that Copart, Inc. will post 1.54 EPS for the current fiscal 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.