Commerce Bank Sells 512,965 Shares of Copart, Inc. (NASDAQ:CPRT)

Commerce Bank trimmed its position in Copart, Inc. (NASDAQ:CPRT) by 68.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 233,372 shares of the business services provider’s stock after selling 512,965 shares during the quarter. Commerce Bank’s holdings in Copart were worth $12,229,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Jensen Investment Management Inc. increased its stake in Copart by 2,466.0% during the third quarter. Jensen Investment Management Inc. now owns 3,536,233 shares of the business services provider’s stock worth $185,299,000 after acquiring an additional 3,398,423 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Copart by 462.8% in the third quarter. Assenagon Asset Management S.A. now owns 3,668,696 shares of the business services provider’s stock valued at $192,240,000 after purchasing an additional 3,016,795 shares during the period. Manning & Napier Advisors LLC purchased a new stake in shares of Copart in the second quarter valued at approximately $109,382,000. Price T Rowe Associates Inc. MD lifted its holdings in Copart by 28.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,861,282 shares of the business services provider’s stock worth $397,406,000 after buying an additional 1,500,466 shares during the period. Finally, Comgest Global Investors S.A.S. lifted its holdings in Copart by 706.6% during the third quarter. Comgest Global Investors S.A.S. now owns 1,586,886 shares of the business services provider’s stock worth $83,153,000 after buying an additional 1,390,146 shares during the period. 85.78% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the company. JPMorgan Chase & Co. upped their target price on Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday. Robert W. Baird lowered their price target on shares of Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th.

Copart Trading Down 1.9 %

Shares of Copart stock opened at $55.42 on Thursday. The firm has a market capitalization of $53.39 billion, a PE ratio of 39.87 and a beta of 1.27. Copart, Inc. has a twelve month low of $46.21 and a twelve month high of $58.58. The firm’s 50-day moving average price is $53.39 and its 200 day moving average price is $53.14.

Copart (NASDAQ:CPRT) last released its quarterly earnings data 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). The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. Copart had a net margin of 32.17% and a return on equity of 19.55%. The firm’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.34 EPS. On average, sell-side analysts predict that Copart, Inc. will post 1.54 EPS for the current fiscal 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.