MetLife Investment Management LLC Cuts Position in Copart, Inc. (NASDAQ:CPRT)

MetLife Investment Management LLC trimmed its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 2.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 264,653 shares of the business services provider’s stock after selling 6,365 shares during the period. MetLife Investment Management LLC’s holdings in Copart were worth $13,868,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Cadence Bank lifted its holdings in shares of Copart by 0.6% during the 3rd quarter. Cadence Bank now owns 31,549 shares of the business services provider’s stock valued at $1,653,000 after acquiring an additional 178 shares in the last quarter. WASHINGTON TRUST Co grew its stake in shares of Copart by 0.3% in the second quarter. WASHINGTON TRUST Co now owns 61,852 shares of the business services provider’s stock valued at $3,350,000 after buying an additional 200 shares in the last quarter. Spinnaker Trust raised its holdings in shares of Copart by 4.0% during the 2nd quarter. Spinnaker Trust now owns 5,222 shares of the business services provider’s stock valued at $283,000 after buying an additional 200 shares during the period. Values First Advisors Inc. lifted its position in Copart by 2.9% during the 2nd quarter. Values First Advisors Inc. now owns 7,098 shares of the business services provider’s stock worth $384,000 after acquiring an additional 201 shares in the last quarter. Finally, Duncan Williams Asset Management LLC boosted its holdings in Copart by 1.3% in the 3rd quarter. Duncan Williams Asset Management LLC now owns 15,437 shares of the business services provider’s stock worth $809,000 after acquiring an additional 203 shares during the period. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Stock Down 0.5 %

CPRT stock opened at $63.51 on Thursday. The stock’s 50 day moving average is $54.33 and its two-hundred day moving average is $53.30. Copart, Inc. has a 52-week low of $46.21 and a 52-week high of $64.38. The company has a market capitalization of $61.18 billion, a PE ratio of 44.73 and a beta of 1.27.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). Copart had a return on equity of 18.96% and a net margin of 31.92%. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the firm posted $0.34 EPS. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Copart, Inc. will post 1.57 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Robert W. Baird reduced their target price on shares of Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th. JPMorgan Chase & Co. boosted their price objective on shares of Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th.

About Copart

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.