Massmutual Trust Co. FSB ADV Sells 1,864 Shares of Copart, Inc. (NASDAQ:CPRT)

Massmutual Trust Co. FSB ADV lowered its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 22.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,480 shares of the business services provider’s stock after selling 1,864 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Copart were worth $340,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Cadence Bank grew 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 purchasing an additional 187 shares in the last quarter. WASHINGTON TRUST Co grew its position in shares of Copart by 0.3% during the second quarter. WASHINGTON TRUST Co now owns 61,852 shares of the business services provider’s stock worth $3,350,000 after purchasing an additional 200 shares in the last quarter. Spinnaker Trust grew its position in shares of Copart by 4.0% during the second quarter. Spinnaker Trust now owns 5,222 shares of the business services provider’s stock worth $283,000 after purchasing an additional 200 shares in the last quarter. Values First Advisors Inc. grew its position in shares of Copart by 2.9% during the second quarter. Values First Advisors Inc. now owns 7,098 shares of the business services provider’s stock worth $384,000 after purchasing an additional 201 shares in the last quarter. Finally, Burney Co. grew 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 purchasing an additional 206 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Wall Street Analyst Weigh In

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

Copart Price Performance

NASDAQ CPRT opened at $52.90 on Friday. The stock has a market capitalization of $50.91 billion, a PE ratio of 37.25 and a beta of 1.27. The business has a 50 day simple moving average of $51.44 and a two-hundred day simple moving average of $53.52. Copart, Inc. has a 1-year low of $42.41 and a 1-year high of $58.58.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share for the quarter, missing the consensus estimate 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 business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.34 EPS. On average, analysts anticipate that Copart, Inc. will post 1.54 EPS for the current fiscal year.

Copart Company 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.