Price T Rowe Associates Inc. MD Reduces Stake in Copart, Inc. (NASDAQ:CPRT)

Price T Rowe Associates Inc. MD trimmed its stake in Copart, Inc. (NASDAQ:CPRT – Get Rating) by 1.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 693,656 shares of the business services provider’s stock after selling 13,036 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Copart were worth $73,806,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CPRT. Quantum Capital Management LLC NJ lifted its stake in shares of Copart by 9.1% during the 3rd quarter. Quantum Capital Management LLC NJ now owns 546,899 shares of the business services provider’s stock valued at $58,190,000 after buying an additional 45,549 shares in the last quarter. Logan Capital Management Inc. lifted its stake in shares of Copart by 0.4% during the 3rd quarter. Logan Capital Management Inc. now owns 86,146 shares of the business services provider’s stock valued at $9,166,000 after buying an additional 373 shares in the last quarter. Lighthouse Investment Partners LLC lifted its stake in shares of Copart by 82.7% during the 3rd quarter. Lighthouse Investment Partners LLC now owns 35,074 shares of the business services provider’s stock valued at $3,731,000 after buying an additional 15,874 shares in the last quarter. ETF Managers Group LLC lifted its stake in shares of Copart by 4.0% during the 3rd quarter. ETF Managers Group LLC now owns 5,461 shares of the business services provider’s stock valued at $581,000 after buying an additional 211 shares in the last quarter. Finally, Evergreen Capital Management LLC lifted its stake in shares of Copart by 20.4% during the 3rd quarter. Evergreen Capital Management LLC now owns 2,217 shares of the business services provider’s stock valued at $236,000 after buying an additional 376 shares in the last quarter. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Copart

In other news, Director Matt Blunt sold 30,000 shares of the stock in a transaction on Wednesday, February 22nd. The shares were sold at an average price of $69.36, for a total value of $2,080,800.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 11.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CPRT. Robert W. Baird upped their price target on shares of Copart from $74.00 to $78.00 and gave the company an “outperform” rating in a research note on Wednesday, February 22nd. StockNews.com upgraded shares of Copart from a “hold” rating to a “buy” rating in a research note on Tuesday, February 21st. Guggenheim upped their target price on shares of Copart from $75.00 to $82.00 and gave the stock a “buy” rating in a report on Wednesday, February 22nd. Finally, Stephens reaffirmed an “overweight” rating and set a $78.00 target price on shares of Copart in a report on Tuesday, February 21st.

Copart Trading Down 0.7 %

Copart stock opened at $67.92 on Tuesday. The firm’s 50 day simple moving average is $66.79 and its 200 day simple moving average is $61.78. The firm has a market capitalization of $32.37 billion, a PE ratio of 30.19 and a beta of 1.21. Copart, Inc. has a 1-year low of $51.10 and a 1-year high of $71.68.

Copart (NASDAQ:CPRT – Get Rating) last posted its earnings results on Tuesday, February 21st. The business services provider reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.05. The business had revenue of $956.72 million for the quarter, compared to analyst estimates of $934.36 million. Copart had a net margin of 29.45% and a return on equity of 22.93%. During the same quarter in the prior year, the firm posted $0.55 EPS. Research analysts forecast that Copart, Inc. will post 2.34 earnings per share for the current year.

About Copart

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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.