Profund Advisors LLC Cuts Stock Position in Copart, Inc. (NASDAQ:CPRT)

Profund Advisors LLC lessened its position in Copart, Inc. (NASDAQ:CPRT) by 1.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 84,008 shares of the business services provider’s stock after selling 1,068 shares during the quarter. Profund Advisors LLC’s holdings in Copart were worth $4,550,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. increased its holdings in Copart by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 39,232,895 shares of the business services provider’s stock worth $2,272,369,000 after purchasing an additional 1,009,053 shares during the period. Capital World Investors increased its holdings in Copart by 1.0% during the 4th quarter. Capital World Investors now owns 21,419,398 shares of the business services provider’s stock worth $1,049,551,000 after purchasing an additional 207,349 shares during the period. Bank of New York Mellon Corp increased its holdings in Copart by 8.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 16,008,444 shares of the business services provider’s stock worth $867,017,000 after purchasing an additional 1,199,781 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Copart by 0.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,898,956 shares of the business services provider’s stock worth $427,807,000 after purchasing an additional 30,454 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in Copart by 28.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,861,282 shares of the business services provider’s stock worth $397,406,000 after purchasing an additional 1,500,466 shares during the period. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Analysts Set New Price Targets

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

Copart Stock Performance

CPRT opened at $51.44 on Friday. Copart, Inc. has a one year low of $42.41 and a one year high of $58.58. The company has a market cap of $49.50 billion, a P/E ratio of 36.23 and a beta of 1.27. The business’s 50-day simple moving average is $51.47 and its 200-day simple moving average is $53.71.

Copart (NASDAQ:CPRT) last released 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). Copart had a net margin of 32.17% and a return on equity of 19.55%. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the company posted $0.34 EPS. The company’s revenue was up 7.2% compared to the same quarter last year. As a group, analysts predict that Copart, Inc. will post 1.54 earnings per share 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.