Mount Yale Investment Advisors LLC Sells 2,003 Shares of Copart, Inc. (NASDAQ:CPRT)

Mount Yale Investment Advisors LLC lowered its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 5.0% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 38,212 shares of the business services provider’s stock after selling 2,003 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Copart were worth $2,070,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Cadence Bank grew its holdings in 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 during the period. WASHINGTON TRUST Co boosted its holdings 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 acquiring an additional 200 shares during the period. Spinnaker Trust boosted its holdings 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 acquiring an additional 200 shares during the period. Values First Advisors Inc. grew its position in shares of Copart by 2.9% in the second quarter. Values First Advisors Inc. now owns 7,098 shares of the business services provider’s stock valued at $384,000 after purchasing an additional 201 shares during the last quarter. Finally, Burney Co. increased its stake 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 during the period. Institutional investors own 85.78% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Robert W. Baird reduced 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 Down 0.7 %

Shares of Copart stock opened at $51.44 on Friday. The stock has a market capitalization of $49.50 billion, a price-to-earnings ratio of 36.23 and a beta of 1.27. Copart, Inc. has a twelve month low of $42.41 and a twelve month high of $58.58. The company has a 50-day simple moving average of $51.47 and a two-hundred day simple moving average of $53.71.

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 analysts’ consensus estimates of $0.36 by ($0.03). The business had revenue of $1.07 billion during 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 quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $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 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.