Copart, Inc. (NASDAQ:CPRT) Position Decreased by Weybosset Research & Management LLC

Weybosset Research & Management LLC lessened its holdings in Copart, Inc. (NASDAQ:CPRT) by 4.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 643,794 shares of the business services provider’s stock after selling 28,699 shares during the quarter. Copart comprises approximately 11.4% of Weybosset Research & Management LLC’s investment portfolio, making the stock its largest holding. Weybosset Research & Management LLC owned 0.07% of Copart worth $33,735,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CPRT. Cadence Bank increased its stake in shares of Copart by 0.6% in the 1st quarter. Cadence Bank now owns 31,371 shares of the business services provider’s stock valued at $1,817,000 after purchasing an additional 187 shares in the last quarter. WASHINGTON TRUST Co increased its stake in shares of Copart by 0.3% in the 2nd 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 last quarter. Spinnaker Trust increased its position in 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 purchasing an additional 200 shares during the last quarter. Values First Advisors Inc. raised its position in shares of Copart by 2.9% during the 2nd quarter. Values First Advisors Inc. now owns 7,098 shares of the business services provider’s stock valued at $384,000 after buying an additional 201 shares during the period. Finally, Burney Co. raised its position in Copart by 1.4% in the second quarter. Burney Co. now owns 15,001 shares of the business services provider’s stock valued at $812,000 after purchasing an additional 206 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Price Performance

Shares of NASDAQ CPRT opened at $52.65 on Thursday. Copart, Inc. has a 1-year low of $42.41 and a 1-year high of $58.58. The company has a market cap of $50.66 billion, a price-to-earnings ratio of 37.08 and a beta of 1.27. The stock’s 50-day moving average is $51.41 and its two-hundred day moving average is $53.53.

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). Copart had a return on equity of 19.55% and a net margin of 32.17%. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the firm earned $0.34 EPS. The firm’s revenue was up 7.2% compared to the same quarter last year. 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 decreased their price objective on shares of Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th.

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.