Copart, Inc. (NASDAQ:CPRT) Position Reduced by Barrett & Company Inc.

Barrett & Company Inc. lowered its position in shares of Copart, Inc. (NASDAQ:CPRT) by 56.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 890 shares of the business services provider’s stock after selling 1,160 shares during the quarter. Barrett & Company Inc.’s holdings in Copart were worth $47,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Semanteon Capital Management LP raised its holdings in shares of Copart by 26.4% during the third quarter. Semanteon Capital Management LP now owns 9,509 shares of the business services provider’s stock worth $498,000 after acquiring an additional 1,988 shares in the last quarter. Cavalier Investments LLC boosted its position in Copart by 6.7% during the third quarter. Cavalier Investments LLC now owns 49,765 shares of the business services provider’s stock worth $2,608,000 after purchasing an additional 3,105 shares during the period. Custom Index Systems LLC bought a new position in shares of Copart in the third quarter valued at approximately $211,000. State of Alaska Department of Revenue grew its stake in Copart by 6.0% in the 3rd quarter. State of Alaska Department of Revenue now owns 115,383 shares of the business services provider’s stock valued at $6,045,000 after buying an additional 6,580 shares during the last quarter. Finally, Clear Harbor Asset Management LLC boosted its holdings in Copart by 1.1% during the third quarter. Clear Harbor Asset Management LLC now owns 159,290 shares of the business services provider’s stock valued at $8,347,000 after acquiring an additional 1,795 shares during the period. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Stock Performance

Shares of NASDAQ:CPRT traded up $0.25 during trading on Monday, hitting $51.96. 241,153 shares of the stock were exchanged, compared to its average volume of 4,446,723. The company has a market capitalization of $50.00 billion, a price-to-earnings ratio of 36.42 and a beta of 1.27. The company’s fifty day simple moving average is $52.30 and its 200-day simple moving average is $53.10. Copart, Inc. has a 1-year low of $42.41 and a 1-year high of $58.58.

Copart (NASDAQ:CPRT) last posted its earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. Copart had a net margin of 32.17% and a return on equity of 19.55%. The business’s revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.34 EPS. On average, research analysts forecast that Copart, Inc. will post 1.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.