Conestoga Capital Advisors LLC Decreases Stake in Copart, Inc. (NASDAQ:CPRT)

Conestoga Capital Advisors LLC cut its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 3.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 24,318 shares of the business services provider’s stock after selling 945 shares during the quarter. Conestoga Capital Advisors LLC’s holdings in Copart were worth $1,274,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CPRT. Optimum Investment Advisors raised its stake in shares of Copart by 141.5% during the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock worth $27,000 after buying an additional 300 shares during the last quarter. Eastern Bank purchased a new stake in shares of Copart in the third quarter valued at about $29,000. Crewe Advisors LLC raised its position in shares of Copart by 98.6% during the 2nd quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock worth $31,000 after purchasing an additional 280 shares during the last quarter. Meeder Asset Management Inc. increased its position in Copart by 283.3% during the second quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock worth $31,000 after buying an additional 425 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in shares of Copart by 477.7% during the second quarter. Versant Capital Management Inc now owns 595 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 492 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Analyst Ratings Changes

Separately, Robert W. Baird cut their price objective on shares of Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th.

Copart Stock Performance

Shares of CPRT stock traded up $0.31 during trading hours on Friday, hitting $51.78. 525,428 shares of the company were exchanged, compared to its average volume of 4,417,101. The stock has a market capitalization of $49.88 billion, a price-to-earnings ratio of 37.03 and a beta of 1.27. Copart, Inc. has a one year low of $44.05 and a one year high of $58.58. The business’s 50-day simple moving average is $52.29 and its two-hundred day simple moving average is $53.03.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Wednesday, September 4th. The business services provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). Copart had a net margin of 32.17% and a return on equity of 19.55%. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the business posted $0.34 EPS. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, analysts anticipate 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.