Brown Brothers Harriman & Co. Has $32.12 Million Holdings in Copart, Inc. (NASDAQ:CPRT)

Brown Brothers Harriman & Co. cut its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 24.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 613,015 shares of the business services provider’s stock after selling 193,431 shares during the quarter. Brown Brothers Harriman & Co. owned 0.06% of Copart worth $32,122,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. WASHINGTON TRUST Co raised its holdings in Copart by 0.3% in the 2nd quarter. WASHINGTON TRUST Co now owns 61,852 shares of the business services provider’s stock valued at $3,350,000 after acquiring an additional 200 shares in the last quarter. Spinnaker Trust increased its position in shares of Copart by 4.0% in the second quarter. Spinnaker Trust now owns 5,222 shares of the business services provider’s stock worth $283,000 after purchasing an additional 200 shares during the period. Values First Advisors Inc. raised its stake in Copart by 2.9% in the second quarter. Values First Advisors Inc. now owns 7,098 shares of the business services provider’s stock valued at $384,000 after purchasing an additional 201 shares in the last quarter. Duncan Williams Asset Management LLC lifted its position in Copart by 1.3% during the third quarter. Duncan Williams Asset Management LLC now owns 15,437 shares of the business services provider’s stock worth $809,000 after purchasing an additional 203 shares during the period. Finally, Burney Co. grew its stake in Copart by 1.4% during the second quarter. Burney Co. now owns 15,001 shares of the business services provider’s stock worth $812,000 after buying an additional 206 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Copart Trading Up 10.2 %

Shares of NASDAQ:CPRT opened at $62.70 on Monday. Copart, Inc. has a 12-month low of $46.21 and a 12-month high of $62.90. The stock has a market capitalization of $60.40 billion, a P/E ratio of 44.15 and a beta of 1.27. The stock’s 50-day moving average price is $53.79 and its 200-day moving average price is $53.18.

Copart (NASDAQ:CPRT) last released its earnings results 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). Copart had a net margin of 31.92% and a return on equity of 18.96%. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the business earned $0.34 EPS. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, research analysts predict that Copart, Inc. will post 1.55 EPS for the current year.

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.