MML Investors Services LLC decreased its holdings in Copart, Inc. (NASDAQ:CPRT) by 5.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,396 shares of the business services provider’s stock after selling 560 shares during the quarter. MML Investors Services LLC’s holdings in Copart were worth $777,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in CPRT. Capital Investment Advisory Services LLC bought a new stake in Copart during the 2nd quarter worth about $29,000. Icon Wealth Partners LLC bought a new stake in Copart during the 1st quarter worth about $34,000. Cordasco Financial Network grew its holdings in Copart by 170.7% during the 2nd quarter. Cordasco Financial Network now owns 471 shares of the business services provider’s stock worth $35,000 after acquiring an additional 297 shares during the last quarter. Redhawk Wealth Advisors Inc. bought a new stake in Copart during the 2nd quarter worth about $37,000. Finally, Commonwealth Bank of Australia grew its holdings in Copart by 132.9% during the 2nd quarter. Commonwealth Bank of Australia now owns 517 shares of the business services provider’s stock worth $37,000 after acquiring an additional 295 shares during the last quarter. Institutional investors own 81.98% of the company’s stock.
CPRT stock traded down $0.27 during mid-day trading on Thursday, hitting $82.30. 27,385 shares of the company were exchanged, compared to its average volume of 1,450,068. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.99 and a current ratio of 2.07. The firm has a market cap of $18.90 billion, a P/E ratio of 36.60, a P/E/G ratio of 1.57 and a beta of 0.84. The firm’s 50 day simple moving average is $77.07 and its 200 day simple moving average is $70.56. Copart, Inc. has a 1-year low of $44.61 and a 1-year high of $83.70.
Copart (NASDAQ:CPRT) last announced its earnings results on Wednesday, September 4th. The business services provider reported $0.60 EPS for the quarter, topping the consensus estimate of $0.56 by $0.04. The firm had revenue of $542.60 million for the quarter, compared to the consensus estimate of $517.84 million. Copart had a net margin of 28.98% and a return on equity of 33.84%. The business’s quarterly revenue was up 20.8% on a year-over-year basis. During the same period last year, the company posted $0.42 EPS. On average, equities research analysts predict that Copart, Inc. will post 2.61 EPS for the current fiscal year.
In other news, insider William E. Franklin sold 41,007 shares of Copart stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $77.37, for a total value of $3,172,711.59. Following the sale, the insider now directly owns 58,974 shares in the company, valued at $4,562,818.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 15.99% of the stock is owned by company insiders.
A number of equities research analysts have commented on the stock. Barrington Research reissued a “hold” rating on shares of Copart in a report on Wednesday, September 11th. BidaskClub lowered shares of Copart from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Zacks Investment Research raised shares of Copart from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Monday, May 27th. JPMorgan Chase & Co. raised their target price on shares of Copart from $62.00 to $71.00 and gave the company an “underweight” rating in a research note on Friday, September 6th. Finally, Robert W. Baird set a $85.00 target price on shares of Copart and gave the company a “buy” rating in a research note on Friday, September 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. Copart currently has a consensus rating of “Hold” and an average target price of $75.21.
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.
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