Copart, Inc. (NASDAQ:CPRT) Holdings Cut by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA cut its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 30.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,524,321 shares of the business services provider’s stock after selling 2,374,635 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.57% of Copart worth $289,474,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Optimum Investment Advisors lifted its position in Copart by 141.5% in the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 300 shares during the last quarter. Eastern Bank acquired a new position in shares of Copart during the third quarter worth approximately $29,000. Crewe Advisors LLC grew its holdings in Copart by 98.6% in the 2nd quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock worth $31,000 after buying an additional 280 shares in the last quarter. Meeder Asset Management Inc. increased its position in 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 acquiring an additional 425 shares during the period. Finally, Versant Capital Management Inc raised its stake in Copart by 477.7% during the 2nd quarter. Versant Capital Management Inc now owns 595 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 492 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CPRT shares. JPMorgan Chase & Co. raised their price target on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday. Robert W. Baird lowered their target price 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 Stock Performance

CPRT opened at $62.70 on Friday. The company has a market capitalization of $60.40 billion, a PE ratio of 44.15 and a beta of 1.27. The stock’s fifty day moving average is $53.79 and its 200-day moving average is $53.21. Copart, Inc. has a one year low of $46.21 and a one year high of $62.90.

Copart (NASDAQ:CPRT) last released its earnings results 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 19.55% and a net margin of 32.17%. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the firm earned $0.34 earnings per share. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities research analysts forecast that Copart, Inc. will post 1.54 EPS for the current fiscal year.

About Copart

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.