Legacy Capital Group California Inc. Reduces Position in Copart, Inc. (NASDAQ:CPRT)

Legacy Capital Group California Inc. cut its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 1.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,427 shares of the business services provider’s stock after selling 193 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Copart were worth $604,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in CPRT. PDS Planning Inc raised its position in shares of Copart by 5.0% in the 1st quarter. PDS Planning Inc now owns 4,538 shares of the business services provider’s stock worth $263,000 after purchasing an additional 216 shares during the last quarter. Rathbones Group PLC raised its position in Copart by 2.9% in the 4th quarter. Rathbones Group PLC now owns 7,821 shares of the business services provider’s stock worth $383,000 after buying an additional 221 shares during the last quarter. Panagora Asset Management Inc. raised its position in Copart by 0.9% in the 4th quarter. Panagora Asset Management Inc. now owns 25,133 shares of the business services provider’s stock worth $1,232,000 after buying an additional 226 shares during the last quarter. Quent Capital LLC raised its position in Copart by 4.4% in the 1st quarter. Quent Capital LLC now owns 5,330 shares of the business services provider’s stock worth $309,000 after buying an additional 226 shares during the last quarter. Finally, Pinnacle Bancorp Inc. raised its position in Copart by 79.6% in the 1st quarter. Pinnacle Bancorp Inc. now owns 528 shares of the business services provider’s stock worth $31,000 after buying an additional 234 shares during the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. boosted their target price on Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $51.00.

Copart Price Performance

Shares of NASDAQ:CPRT traded down $0.48 during mid-day trading on Tuesday, reaching $54.24. 2,511,410 shares of the company traded hands, compared to its average volume of 4,446,837. The company’s 50 day moving average price is $54.17 and its 200-day moving average price is $53.07. The firm has a market cap of $52.20 billion, a PE ratio of 38.42 and a beta of 1.28. Copart, Inc. has a 52 week low of $42.41 and a 52 week high of $58.58.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, May 16th. The business services provider reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.01. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Copart had a return on equity of 20.80% and a net margin of 33.33%. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.36 EPS. On average, research analysts predict that Copart, Inc. will post 1.43 earnings per share for the current fiscal year.

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.