Janney Montgomery Scott LLC Has $19.57 Million Holdings in Copart, Inc. (NASDAQ:CPRT)

Janney Montgomery Scott LLC decreased its position in Copart, Inc. (NASDAQ:CPRT) by 2.0% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 373,432 shares of the business services provider’s stock after selling 7,503 shares during the period. Janney Montgomery Scott LLC’s holdings in Copart were worth $19,568,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Optimum Investment Advisors boosted its position in shares of Copart by 141.5% in the third quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock worth $27,000 after buying an additional 300 shares during the period. Eastern Bank acquired a new stake in Copart during the 3rd quarter worth about $29,000. Crewe Advisors LLC grew its stake in Copart by 98.6% during the 2nd quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 280 shares in the last quarter. Meeder Asset Management Inc. increased its holdings in shares of Copart by 283.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 425 shares during the period. Finally, Versant Capital Management Inc lifted its position in shares of Copart by 477.7% in the second quarter. Versant Capital Management Inc now owns 595 shares of the business services provider’s stock worth $32,000 after purchasing an additional 492 shares in the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Copart Price Performance

Shares of Copart stock opened at $52.89 on Wednesday. The firm has a market cap of $50.95 billion, a price-to-earnings ratio of 38.05 and a beta of 1.27. The stock has a 50-day simple moving average of $52.26 and a 200-day simple moving average of $52.99. Copart, Inc. has a 52-week low of $45.50 and a 52-week high of $58.58.

Copart (NASDAQ:CPRT) last posted its 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). Copart had a return on equity of 19.55% and a net margin of 32.17%. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the firm earned $0.34 earnings per share. The business’s revenue was up 7.2% on a year-over-year basis. As a group, equities research analysts predict that Copart, Inc. will post 1.54 earnings per share 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.