New Century Financial Group LLC Sells 1,275 Shares of Copart, Inc. (NASDAQ:CPRT)

New Century Financial Group LLC cut its position in Copart, Inc. (NASDAQ:CPRT) by 22.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,369 shares of the business services provider’s stock after selling 1,275 shares during the period. New Century Financial Group LLC’s holdings in Copart were worth $253,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC lifted its holdings in shares of Copart by 78.4% in the 3rd quarter. AQR Capital Management LLC now owns 420,259 shares of the business services provider’s stock worth $18,109,000 after purchasing an additional 184,665 shares in the last quarter. Glenmede Trust Co. NA increased its position in shares of Copart by 92.6% during the third quarter. Glenmede Trust Co. NA now owns 21,772 shares of the business services provider’s stock worth $938,000 after acquiring an additional 10,469 shares in the last quarter. Axxcess Wealth Management LLC increased its position in shares of Copart by 109.8% during the third quarter. Axxcess Wealth Management LLC now owns 7,586 shares of the business services provider’s stock worth $327,000 after acquiring an additional 3,970 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Copart by 105.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,250,056 shares of the business services provider’s stock worth $97,000,000 after acquiring an additional 1,152,670 shares during the last quarter. Finally, Alps Advisors Inc. lifted its position in Copart by 61.4% in the 3rd quarter. Alps Advisors Inc. now owns 7,494 shares of the business services provider’s stock valued at $323,000 after acquiring an additional 2,852 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Copart Stock Down 1.5 %

Shares of NASDAQ CPRT opened at $53.89 on Friday. The company has a market capitalization of $51.86 billion, a PE ratio of 37.95 and a beta of 1.27. The stock’s 50 day moving average price is $54.23 and its 200-day moving average price is $52.71. Copart, Inc. has a twelve month low of $42.41 and a twelve month high of $58.58.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, May 16th. The business services provider reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.01. Copart had a return on equity of 20.80% and a net margin of 33.33%. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the previous year, the firm earned $0.36 earnings per share. The business’s revenue was up 10.3% on a year-over-year basis. As a group, research analysts expect that Copart, Inc. will post 1.43 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. raised their target price on Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Copart currently has a consensus rating of “Hold” and an average target price of $51.00.

About Copart

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.