Copart, Inc. (NASDAQ:CPRT) Stock Holdings Lowered by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 71.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 695,245 shares of the business services provider’s stock after selling 1,708,947 shares during the period. Allspring Global Investments Holdings LLC owned about 0.07% of Copart worth $36,431,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Manning & Napier Advisors LLC purchased a new position in Copart in the 2nd quarter worth about $109,382,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Copart by 28.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,861,282 shares of the business services provider’s stock valued at $397,406,000 after acquiring an additional 1,500,466 shares during the period. TD Asset Management Inc lifted its position in shares of Copart by 43.3% in the 1st quarter. TD Asset Management Inc now owns 4,862,147 shares of the business services provider’s stock valued at $281,616,000 after acquiring an additional 1,469,292 shares in the last quarter. Kimelman & Baird LLC purchased a new position in Copart during the 2nd quarter worth approximately $70,307,000. Finally, Bank of New York Mellon Corp raised its stake in Copart by 8.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 16,008,444 shares of the business services provider’s stock valued at $867,017,000 after purchasing an additional 1,199,781 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Analyst Ratings Changes

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

Copart Stock Performance

Copart stock opened at $52.07 on Wednesday. Copart, Inc. has a twelve month low of $42.41 and a twelve month high of $58.58. The firm has a market cap of $50.11 billion, a PE ratio of 36.67 and a beta of 1.27. The firm’s 50 day moving average price is $52.26 and its two-hundred day moving average price is $53.23.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Wednesday, September 4th. The business services provider reported $0.33 EPS 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 the consensus estimate of $1.07 billion. Copart had a net margin of 32.17% and a return on equity of 19.55%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.34 EPS. Equities analysts anticipate that Copart, Inc. will post 1.54 EPS for the current fiscal year.

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.