Clearstead Trust LLC Cuts Position in Copart, Inc. (NASDAQ:CPRT)

Clearstead Trust LLC lessened its holdings in Copart, Inc. (NASDAQ:CPRT) by 8.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,200 shares of the business services provider’s stock after selling 580 shares during the quarter. Clearstead Trust LLC’s holdings in Copart were worth $336,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Cadence Bank grew its holdings in Copart by 0.6% in the first quarter. Cadence Bank now owns 31,371 shares of the business services provider’s stock worth $1,817,000 after purchasing an additional 187 shares during the period. WASHINGTON TRUST Co lifted 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 worth $3,350,000 after buying an additional 200 shares in the last quarter. Spinnaker Trust lifted its stake 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 buying an additional 200 shares in the last quarter. Values First Advisors Inc. lifted its stake in shares of Copart by 2.9% in the second quarter. Values First Advisors Inc. now owns 7,098 shares of the business services provider’s stock worth $384,000 after buying an additional 201 shares in the last quarter. Finally, Burney Co. lifted its stake in shares of Copart by 1.4% in 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. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird dropped their target price on shares of Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th.

Copart Stock Performance

Shares of NASDAQ CPRT opened at $49.75 on Tuesday. The firm’s 50 day moving average price is $51.75 and its 200-day moving average price is $53.78. The company has a market cap of $47.87 billion, a PE ratio of 35.04 and a beta of 1.27. Copart, Inc. has a 52-week low of $42.41 and a 52-week high of $58.58.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Wednesday, September 4th. The business services provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.07 billion. Copart had a net margin of 32.17% and a return on equity of 19.55%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the company earned $0.34 EPS. On average, analysts forecast that Copart, Inc. will post 1.54 earnings per share for the current fiscal 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.