Kayne Anderson Rudnick Investment Management LLC Trims Holdings in Copart, Inc. (NASDAQ:CPRT)

Kayne Anderson Rudnick Investment Management LLC decreased its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 7.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,911 shares of the business services provider’s stock after selling 1,148 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in Copart were worth $753,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Perpetual Ltd raised its holdings in shares of Copart by 9.6% during the 1st quarter. Perpetual Ltd now owns 161,318 shares of the business services provider’s stock worth $9,344,000 after acquiring an additional 14,126 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Copart by 44.1% in the 1st quarter. Nordea Investment Management AB now owns 2,078,277 shares of the business services provider’s stock valued at $120,602,000 after buying an additional 636,438 shares in the last quarter. Baird Financial Group Inc. grew its stake 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 acquiring an additional 400,940 shares during the last quarter. Silvercrest Asset Management Group LLC raised its holdings 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 worth $2,199,000 after buying an additional 10,959 shares during the last quarter. Finally, Motco raised its stake in Copart by 6,085.7% in the 1st quarter. Motco now owns 10,392 shares of the business services provider’s stock worth $602,000 after acquiring an additional 10,224 shares during the last quarter. Institutional investors own 85.78% of the company’s stock.

Copart Price Performance

Shares of NASDAQ CPRT opened at $51.69 on Tuesday. The company has a 50 day simple moving average of $51.41 and a 200-day simple moving average of $53.68. The company has a market capitalization of $49.74 billion, a P/E ratio of 36.40 and a beta of 1.27. Copart, Inc. has a 1 year low of $42.41 and a 1 year high of $58.58.

Copart (NASDAQ:CPRT) last issued its quarterly 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). The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Copart had a return on equity of 19.55% and a net margin of 32.17%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the company earned $0.34 earnings per share. As a group, research analysts expect that Copart, Inc. will post 1.54 EPS for the current year.

Analysts Set New Price Targets

Separately, Robert W. Baird reduced their target price on shares of 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.