Diversify Advisory Services LLC Lowers Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Diversify Advisory Services LLC trimmed its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 62.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,307 shares of the business services provider’s stock after selling 14,076 shares during the quarter. Diversify Advisory Services LLC’s holdings in Copart were worth $452,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Cadence Bank grew its stake in Copart by 0.6% in the 1st quarter. Cadence Bank now owns 31,371 shares of the business services provider’s stock valued at $1,817,000 after acquiring an additional 187 shares during the last quarter. Dorsey & Whitney Trust CO LLC grew its holdings in shares of Copart by 2.4% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 9,054 shares of the business services provider’s stock worth $524,000 after buying an additional 209 shares in the last quarter. PDS Planning Inc raised its holdings in Copart by 5.0% in the 1st quarter. PDS Planning Inc now owns 4,538 shares of the business services provider’s stock valued at $263,000 after acquiring an additional 216 shares during the last quarter. Rathbones Group PLC grew its position in shares of Copart by 2.9% in the fourth quarter. Rathbones Group PLC now owns 7,821 shares of the business services provider’s stock valued at $383,000 after purchasing an additional 221 shares during the period. Finally, Panagora Asset Management Inc. lifted its position in Copart by 0.9% during the fourth 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 period. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Price Performance

Copart stock traded up $0.90 during midday trading on Friday, hitting $50.99. 2,904,276 shares of the stock were exchanged, compared to its average volume of 4,488,823. The company has a 50 day moving average price of $53.12 and a two-hundred day moving average price of $53.50. The firm has a market cap of $49.07 billion, a P/E ratio of 35.91 and a beta of 1.28. Copart, Inc. has a 1 year low of $42.41 and a 1 year high of $58.58.

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

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.