Perpetual Ltd Sells 422 Shares of Copart, Inc. (NASDAQ:CPRT)

Perpetual Ltd lowered its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 0.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 166,864 shares of the business services provider’s stock after selling 422 shares during the quarter. Perpetual Ltd’s holdings in Copart were worth $8,744,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CPRT. Principal Financial Group Inc. raised its stake in shares of Copart by 2.6% in the first quarter. Principal Financial Group Inc. now owns 39,232,895 shares of the business services provider’s stock valued at $2,272,369,000 after acquiring an additional 1,009,053 shares during the period. Bank of New York Mellon Corp grew its holdings in Copart by 8.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 16,008,444 shares of the business services provider’s stock valued at $867,017,000 after purchasing an additional 1,199,781 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Copart by 0.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,898,956 shares of the business services provider’s stock worth $427,807,000 after purchasing an additional 30,454 shares during the period. Legal & General Group Plc lifted its stake in Copart by 9.4% in the second quarter. Legal & General Group Plc now owns 6,943,042 shares of the business services provider’s stock worth $376,035,000 after purchasing an additional 598,566 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of 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 valued at $397,406,000 after buying an additional 1,500,466 shares during the period. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Price Performance

Copart stock opened at $55.60 on Friday. The stock has a market cap of $53.50 billion, a price-to-earnings ratio of 39.15 and a beta of 1.27. The firm has a 50-day moving average of $51.71 and a two-hundred day moving average of $53.43. Copart, Inc. has a 1 year low of $42.41 and a 1 year high of $58.58.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Wednesday, September 4th. The business services provider reported $0.33 EPS 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 firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the business posted $0.34 EPS. The business’s quarterly revenue was up 7.2% on a year-over-year basis. Research analysts expect that Copart, Inc. will post 1.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Copart Company 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.