Apollon Wealth Management LLC Trims Stake in Copart, Inc. (NASDAQ:CPRT)

Apollon Wealth Management LLC trimmed its stake in Copart, Inc. (NASDAQ:CPRT) by 47.1% during the third quarter, Holdings Channel.com reports. The fund owned 21,660 shares of the business services provider’s stock after selling 19,299 shares during the period. Apollon Wealth Management LLC’s holdings in Copart were worth $1,135,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CPRT. Optimum Investment Advisors grew its holdings in Copart by 141.5% during the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock worth $27,000 after acquiring an additional 300 shares in the last quarter. Eastern Bank purchased a new position in Copart during the 3rd quarter worth $29,000. Crewe Advisors LLC increased its holdings in shares of Copart by 98.6% in the 2nd quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock valued at $31,000 after purchasing 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 in the last quarter. Finally, Versant Capital Management Inc increased its holdings in shares of Copart by 477.7% in the 2nd quarter. Versant Capital Management Inc now owns 595 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 492 shares in the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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 note on Thursday, September 5th.

Copart Trading Down 1.0 %

NASDAQ CPRT opened at $57.34 on Friday. The company’s fifty day simple moving average is $52.84 and its 200-day simple moving average is $53.11. Copart, Inc. has a 52 week low of $46.21 and a 52 week high of $58.58. The stock has a market cap of $55.24 billion, a P/E ratio of 41.25 and a beta of 1.27.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The company had revenue of $1.07 billion during 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%. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.34 EPS. On average, research analysts expect 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.