Intech Investment Management LLC Has $8.58 Million Stake in Copart, Inc. (NASDAQ:CPRT)

Intech Investment Management LLC reduced its holdings in Copart, Inc. (NASDAQ:CPRT) by 48.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 158,502 shares of the business services provider’s stock after selling 151,581 shares during the quarter. Intech Investment Management LLC’s holdings in Copart were worth $8,584,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in CPRT. Gilbert & Cook Inc. grew its position in shares of Copart by 1.7% in the fourth quarter. Gilbert & Cook Inc. now owns 28,553 shares of the business services provider’s stock valued at $1,399,000 after purchasing an additional 469 shares during the last quarter. Gryphon Financial Partners LLC acquired a new stake in shares of Copart in the fourth quarter valued at about $114,000. Avantax Advisory Services Inc. lifted its stake in shares of Copart by 44.7% in the fourth quarter. Avantax Advisory Services Inc. now owns 7,816 shares of the business services provider’s stock valued at $383,000 after buying an additional 2,414 shares during the period. D.A. Davidson & CO. acquired a new stake in Copart during the fourth quarter worth about $409,000. Finally, Corient Private Wealth LLC grew its position in Copart by 3.6% during the fourth quarter. Corient Private Wealth LLC now owns 220,764 shares of the business services provider’s stock worth $10,817,000 after buying an additional 7,673 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Copart Stock Down 0.7 %

CPRT stock opened at $51.44 on Friday. Copart, Inc. has a twelve month low of $42.41 and a twelve month high of $58.58. The company has a market cap of $49.50 billion, a PE ratio of 36.23 and a beta of 1.27. The business’s 50-day simple moving average is $51.55 and its 200 day simple moving average is $53.73.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Wednesday, September 4th. The business services provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. Copart had a net margin of 32.17% and a return on equity of 19.55%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.34 earnings per share. On average, equities research analysts anticipate that Copart, Inc. will post 1.54 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.