Farther Finance Advisors LLC Sells 697 Shares of Copart, Inc. (NASDAQ:CPRT)

Farther Finance Advisors LLC decreased its position in Copart, Inc. (NASDAQ:CPRT) by 9.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,653 shares of the business services provider’s stock after selling 697 shares during the period. Farther Finance Advisors LLC’s holdings in Copart were worth $349,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CPRT. Bank of New York Mellon Corp boosted its holdings in shares of 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 acquiring an additional 1,199,781 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Copart by 0.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,898,956 shares of the business services provider’s stock valued at $427,807,000 after buying an additional 30,454 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Copart by 9.4% during the 2nd quarter. Legal & General Group Plc now owns 6,943,042 shares of the business services provider’s stock valued at $376,035,000 after buying an additional 598,566 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Copart by 28.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,861,282 shares of the business services provider’s stock worth $397,406,000 after buying an additional 1,500,466 shares during the last quarter. Finally, William Blair Investment Management LLC grew its holdings in shares of Copart by 9.9% in the first quarter. William Blair Investment Management LLC now owns 5,498,210 shares of the business services provider’s stock worth $318,456,000 after acquiring an additional 496,643 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird cut their price target on Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th.

Copart Stock Performance

CPRT stock opened at $55.77 on Friday. The company has a market capitalization of $53.73 billion, a PE ratio of 40.12 and a beta of 1.27. The company’s fifty day moving average price is $52.38 and its 200-day moving average price is $53.02. Copart, Inc. has a one year low of $46.20 and a one year high of $58.58.

Copart (NASDAQ:CPRT) last released its quarterly earnings results 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 analysts’ expectations of $1.07 billion. Copart had a net margin of 32.17% and a return on equity of 19.55%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.34 EPS. On average, research analysts predict that Copart, Inc. will post 1.54 EPS 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.