Raymond James Trust N.A. Cuts Stock Position in Copart, Inc. (NASDAQ:CPRT)

Raymond James Trust N.A. trimmed its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 34.2% in the third quarter, Holdings Channel reports. The firm owned 7,887 shares of the business services provider’s stock after selling 4,095 shares during the period. Raymond James Trust N.A.’s holdings in Copart were worth $413,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in CPRT. Silvercrest Asset Management Group LLC boosted its position in shares of Copart by 40.6% in the first quarter. Silvercrest Asset Management Group LLC now owns 37,962 shares of the business services provider’s stock worth $2,199,000 after buying an additional 10,959 shares during the period. Manning & Napier Advisors LLC purchased a new position in Copart in the 2nd quarter worth approximately $109,382,000. Comerica Bank grew its position in Copart by 5.9% in the first quarter. Comerica Bank now owns 336,206 shares of the business services provider’s stock valued at $19,473,000 after acquiring an additional 18,605 shares in the last quarter. Kinsale Capital Group Inc. grew its position in Copart by 17.7% in the third quarter. Kinsale Capital Group Inc. now owns 89,979 shares of the business services provider’s stock valued at $4,715,000 after acquiring an additional 13,554 shares in the last quarter. Finally, Cetera Investment Advisers raised its stake in shares of Copart by 162.9% during the first quarter. Cetera Investment Advisers now owns 184,417 shares of the business services provider’s stock valued at $10,681,000 after purchasing an additional 114,263 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CPRT. JPMorgan Chase & Co. raised their price target on shares of Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Robert W. Baird decreased their price objective on shares of Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th.

Copart Trading Up 0.1 %

Copart stock opened at $63.80 on Wednesday. The stock has a 50 day moving average of $54.07 and a 200-day moving average of $53.24. The stock has a market cap of $61.46 billion, a P/E ratio of 44.93 and a beta of 1.27. Copart, Inc. has a 52 week low of $46.21 and a 52 week high of $64.19.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data 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 company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. Copart had a return on equity of 18.96% and a net margin of 31.92%. Copart’s revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.34 earnings per share. As a group, equities analysts predict that Copart, Inc. will post 1.55 earnings per share for the current fiscal year.

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.