Tower Research Capital LLC TRC lowered its stake in Copart, Inc. (NASDAQ:CPRT) by 43.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,212 shares of the business services provider’s stock after selling 9,279 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Copart were worth $691,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of CPRT. FMR LLC lifted its position in shares of Copart by 27.3% during the second quarter. FMR LLC now owns 6,625,549 shares of the business services provider’s stock worth $374,741,000 after purchasing an additional 1,420,739 shares in the last quarter. BlackRock Inc. lifted its position in shares of Copart by 4.7% during the first quarter. BlackRock Inc. now owns 17,080,908 shares of the business services provider’s stock worth $869,932,000 after purchasing an additional 760,714 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Copart during the second quarter worth about $36,885,000. Paloma Partners Management Co acquired a new stake in shares of Copart during the second quarter worth about $21,676,000. Finally, Old Mutual Global Investors UK Ltd. lifted its position in shares of Copart by 74.5% during the first quarter. Old Mutual Global Investors UK Ltd. now owns 859,413 shares of the business services provider’s stock worth $43,769,000 after purchasing an additional 366,831 shares in the last quarter. 83.11% of the stock is currently owned by institutional investors.
CPRT has been the topic of several analyst reports. BidaskClub raised shares of Copart from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 5th. Barrington Research reaffirmed a “hold” rating on shares of Copart in a report on Tuesday, September 18th. Zacks Investment Research raised shares of Copart from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a report on Tuesday, September 18th. Finally, Northcoast Research reaffirmed a “neutral” rating on shares of Copart in a report on Monday, September 17th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. Copart presently has an average rating of “Hold” and an average price target of $55.14.
Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Wednesday, September 19th. The business services provider reported $0.42 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.06). The company had revenue of $449.20 million during the quarter, compared to analysts’ expectations of $448.64 million. Copart had a net margin of 23.14% and a return on equity of 29.92%. The business’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.35 earnings per share. As a group, research analysts expect that Copart, Inc. will post 2.15 earnings per share for the current fiscal year.
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 to vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as for individual owners.
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