D.B. Root & Company LLC Sells 684 Shares of Copart, Inc. (NASDAQ:CPRT)

D.B. Root & Company LLC decreased its position in Copart, Inc. (NASDAQ:CPRT) by 6.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 9,416 shares of the business services provider’s stock after selling 684 shares during the quarter. D.B. Root & Company LLC’s holdings in Copart were worth $493,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CPRT. Assenagon Asset Management S.A. boosted its holdings in Copart by 462.8% in the third quarter. Assenagon Asset Management S.A. now owns 3,668,696 shares of the business services provider’s stock valued at $192,240,000 after acquiring an additional 3,016,795 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in Copart in the second quarter valued at about $109,382,000. Price T Rowe Associates Inc. MD boosted its holdings in Copart by 28.0% in 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 acquiring an additional 1,500,466 shares during the last quarter. TD Asset Management Inc boosted its holdings in Copart by 43.3% in the first quarter. TD Asset Management Inc now owns 4,862,147 shares of the business services provider’s stock valued at $281,616,000 after acquiring an additional 1,469,292 shares during the last quarter. Finally, Kimelman & Baird LLC bought a new position in Copart in the second quarter valued at about $70,307,000. Institutional investors own 85.78% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Robert W. Baird cut their target price 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 4.8 %

NASDAQ:CPRT opened at $55.44 on Thursday. Copart, Inc. has a 1-year low of $45.74 and a 1-year high of $58.58. The business’s 50-day moving average price is $52.31 and its two-hundred day moving average price is $53.01. The firm has a market capitalization of $53.41 billion, a price-to-earnings ratio of 39.88 and a beta of 1.27.

Copart (NASDAQ:CPRT) last released its quarterly 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). The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. Copart had a return on equity of 19.55% and a net margin of 32.17%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.34 EPS. Sell-side analysts predict that Copart, Inc. will post 1.54 earnings per share for the current 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.