Copart, Inc. (NASDAQ:CPRT) Position Lessened by Janney Montgomery Scott LLC

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

Other large investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its holdings in shares of Copart by 8.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 16,008,444 shares of the business services provider’s stock worth $867,017,000 after acquiring an additional 1,199,781 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Copart by 0.4% during the second 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 boosted its position in shares of Copart by 9.4% during the second quarter. Legal & General Group Plc now owns 6,943,042 shares of the business services provider’s stock worth $376,035,000 after buying an additional 598,566 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in 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 in the last quarter. Finally, William Blair Investment Management LLC increased its position in Copart by 9.9% in the 1st quarter. William Blair Investment Management LLC now owns 5,498,210 shares of the business services provider’s stock valued at $318,456,000 after acquiring an additional 496,643 shares during the period. 85.78% of the stock is owned by institutional investors and hedge funds.

Copart Trading Up 0.8 %

CPRT stock opened at $52.89 on Wednesday. The firm’s 50-day moving average is $52.26 and its two-hundred day moving average is $52.99. The company has a market capitalization of $50.95 billion, a price-to-earnings ratio of 38.05 and a beta of 1.27. Copart, Inc. has a 52 week low of $45.50 and a 52 week high of $58.58.

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

Analyst Upgrades and Downgrades

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

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.