Copart, Inc. (NASDAQ:CPRT) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC lessened its holdings in Copart, Inc. (NASDAQ:CPRT) by 0.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 379,000 shares of the business services provider’s stock after selling 2,000 shares during the period. Gabelli Funds LLC’s holdings in Copart were worth $20,527,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of CPRT. Perpetual Ltd increased its holdings in Copart by 9.6% in the 1st quarter. Perpetual Ltd now owns 161,318 shares of the business services provider’s stock valued at $9,344,000 after purchasing an additional 14,126 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of Copart by 44.1% during the first quarter. Nordea Investment Management AB now owns 2,078,277 shares of the business services provider’s stock worth $120,602,000 after buying an additional 636,438 shares during the period. Baird Financial Group Inc. boosted its position in shares of Copart by 15.9% during the fourth quarter. Baird Financial Group Inc. now owns 2,922,176 shares of the business services provider’s stock worth $143,187,000 after buying an additional 400,940 shares during the period. Silvercrest Asset Management Group LLC grew its stake in shares of Copart by 40.6% in the first quarter. Silvercrest Asset Management Group LLC now owns 37,962 shares of the business services provider’s stock valued at $2,199,000 after buying an additional 10,959 shares in the last quarter. Finally, Motco raised its holdings in shares of Copart by 6,085.7% in the 1st quarter. Motco now owns 10,392 shares of the business services provider’s stock valued at $602,000 after buying an additional 10,224 shares during the period. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Stock Down 0.7 %

Copart stock opened at $51.44 on Monday. Copart, Inc. has a 52-week low of $42.41 and a 52-week high of $58.58. The firm has a market cap of $49.50 billion, a PE ratio of 36.23 and a beta of 1.27. The company’s 50 day moving average is $51.47 and its two-hundred day moving average is $53.70.

Copart (NASDAQ:CPRT) last released its earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share (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 company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter last year, the business posted $0.34 earnings per share. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities research analysts anticipate that Copart, Inc. will post 1.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.