Global Retirement Partners LLC Decreases Stake in Copart, Inc. (NASDAQ:CPRT)

Global Retirement Partners LLC reduced its stake in Copart, Inc. (NASDAQ:CPRT) by 19.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,376 shares of the business services provider’s stock after selling 2,195 shares during the quarter. Global Retirement Partners LLC’s holdings in Copart were worth $491,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CPRT. Bank of New York Mellon Corp raised its position 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 buying an additional 1,199,781 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position 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 buying an additional 30,454 shares during the last quarter. Legal & General Group Plc raised its position in Copart by 9.4% during the 2nd quarter. Legal & General Group Plc now owns 6,943,042 shares of the business services provider’s stock worth $376,035,000 after buying an additional 598,566 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position 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 buying an additional 1,500,466 shares during the last quarter. Finally, William Blair Investment Management LLC raised its position in Copart by 9.9% during the 1st quarter. William Blair Investment Management LLC now owns 5,498,210 shares of the business services provider’s stock worth $318,456,000 after buying an additional 496,643 shares during the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Robert W. Baird reduced their price target on shares of 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 $52.56 on Tuesday. The firm has a market cap of $50.58 billion, a price-to-earnings ratio of 37.00 and a beta of 1.27. The company has a 50 day moving average price of $52.22 and a 200-day moving average price of $53.26. Copart, Inc. has a 1-year low of $42.41 and a 1-year high of $58.58.

Copart (NASDAQ:CPRT) last posted its 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%. Copart’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the firm earned $0.34 earnings per share. On average, sell-side analysts anticipate that Copart, Inc. will post 1.54 earnings per share 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.