Inspire Investing LLC Lowers Holdings in Copart, Inc. (NASDAQ:CPRT)

Inspire Investing LLC decreased its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 20.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,680 shares of the business services provider’s stock after selling 5,715 shares during the quarter. Inspire Investing LLC’s holdings in Copart were worth $1,174,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Perpetual Ltd raised its stake in shares of Copart by 9.6% in the first quarter. Perpetual Ltd now owns 161,318 shares of the business services provider’s stock worth $9,344,000 after purchasing an additional 14,126 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of Copart by 44.1% in the first quarter. Nordea Investment Management AB now owns 2,078,277 shares of the business services provider’s stock worth $120,602,000 after purchasing an additional 636,438 shares during the last quarter. Baird Financial Group Inc. raised its stake in shares of Copart by 15.9% in the fourth quarter. Baird Financial Group Inc. now owns 2,922,176 shares of the business services provider’s stock worth $143,187,000 after purchasing an additional 400,940 shares during the last quarter. Silvercrest Asset Management Group LLC raised its stake in shares of Copart by 40.6% in the first quarter. Silvercrest Asset Management Group LLC now owns 37,962 shares of the business services provider’s stock worth $2,199,000 after purchasing an additional 10,959 shares during the last quarter. Finally, Motco raised its stake in shares of Copart by 6,085.7% in the first quarter. Motco now owns 10,392 shares of the business services provider’s stock worth $602,000 after purchasing an additional 10,224 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Analyst Ratings Changes

Separately, Robert W. Baird decreased their price target 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

Copart stock opened at $51.80 on Friday. The stock has a market cap of $49.85 billion, a PE ratio of 36.48 and a beta of 1.27. Copart, Inc. has a one year low of $42.41 and a one year high of $58.58. The stock has a fifty day moving average of $51.61 and a 200 day moving average of $53.74.

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