Raymond James Trust N.A. Reduces Holdings in Copart, Inc. (NASDAQ:CPRT)

Raymond James Trust N.A. lowered its stake in Copart, Inc. (NASDAQ:CPRT) by 34.2% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,887 shares of the business services provider’s stock after selling 4,095 shares during the quarter. Raymond James Trust N.A.’s holdings in Copart were worth $413,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Silvercrest Asset Management Group LLC boosted its stake in shares of Copart by 40.6% during the first quarter. Silvercrest Asset Management Group LLC now owns 37,962 shares of the business services provider’s stock valued at $2,199,000 after acquiring an additional 10,959 shares during the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of Copart during the 2nd quarter worth about $109,382,000. Comerica Bank boosted its stake in shares of Copart by 5.9% during the 1st quarter. Comerica Bank now owns 336,206 shares of the business services provider’s stock worth $19,473,000 after purchasing an additional 18,605 shares during the last quarter. Kinsale Capital Group Inc. grew its holdings in shares of Copart by 17.7% during the third quarter. Kinsale Capital Group Inc. now owns 89,979 shares of the business services provider’s stock worth $4,715,000 after buying an additional 13,554 shares in the last quarter. Finally, Cetera Investment Advisers lifted 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 buying an additional 114,263 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Stock Performance

Copart stock opened at $63.80 on Wednesday. The company has a market cap of $61.46 billion, a price-to-earnings ratio of 44.93 and a beta of 1.27. Copart, Inc. has a 1 year low of $46.21 and a 1 year high of $64.19. The firm has a 50 day moving average price of $54.07 and a 200 day moving average price of $53.24.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Wednesday, September 4th. The business services provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). Copart had a return on equity of 18.96% and a net margin of 31.92%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the company earned $0.34 earnings per share. The company’s quarterly revenue was up 7.2% on a year-over-year basis. Sell-side analysts predict that Copart, Inc. will post 1.55 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on CPRT shares. Robert W. Baird lowered their target price on shares of Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. JPMorgan Chase & Co. lifted their price objective on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th.

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.