Pitcairn Co. Trims Stock Position in Copart, Inc. (NASDAQ:CPRT)

Pitcairn Co. decreased its stake in Copart, Inc. (NASDAQ:CPRT) by 15.4% during the third quarter, Holdings Channel reports. The institutional investor owned 9,945 shares of the business services provider’s stock after selling 1,817 shares during the quarter. Pitcairn Co.’s holdings in Copart were worth $521,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Advisors Asset Management Inc. increased its holdings in Copart by 108.1% in the first quarter. Advisors Asset Management Inc. now owns 9,299 shares of the business services provider’s stock valued at $539,000 after buying an additional 4,831 shares in the last quarter. Silvercrest Asset Management Group LLC increased its stake in shares of Copart by 40.6% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 37,962 shares of the business services provider’s stock valued at $2,199,000 after purchasing an additional 10,959 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in Copart by 17.1% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 26,291 shares of the business services provider’s stock worth $1,523,000 after purchasing an additional 3,843 shares during the period. California State Teachers Retirement System boosted its position in Copart by 0.5% during the first quarter. California State Teachers Retirement System now owns 1,351,668 shares of the business services provider’s stock worth $78,289,000 after purchasing an additional 6,796 shares in the last quarter. Finally, Motley Fool Asset Management LLC grew its holdings in Copart by 11.8% in the first quarter. Motley Fool Asset Management LLC now owns 31,546 shares of the business services provider’s stock valued at $1,827,000 after purchasing an additional 3,322 shares during the period. 85.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Robert W. Baird lowered their target price on shares of Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th.

Copart Price Performance

CPRT stock opened at $63.75 on Tuesday. Copart, Inc. has a 1 year low of $46.21 and a 1 year high of $64.19. The firm has a market capitalization of $61.42 billion, a PE ratio of 44.89 and a beta of 1.27. The business has a 50 day simple moving average of $54.07 and a 200-day simple moving average of $53.24.

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 during the quarter, compared to analyst estimates of $1.07 billion. Copart had a net margin of 31.92% and a return on equity of 18.96%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.34 earnings per share. On average, equities research analysts expect that Copart, Inc. will post 1.55 EPS for the current 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.