Provident Investment Management Inc. Has $72.45 Million Holdings in Copart, Inc. (NASDAQ:CPRT)

Provident Investment Management Inc. cut its holdings in Copart, Inc. (NASDAQ:CPRT) by 0.6% in the second quarter, HoldingsChannel reports. The firm owned 1,337,620 shares of the business services provider’s stock after selling 8,002 shares during the quarter. Copart accounts for 6.6% of Provident Investment Management Inc.’s portfolio, making the stock its 4th largest position. Provident Investment Management Inc.’s holdings in Copart were worth $72,445,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Rise Advisors LLC purchased a new position in shares of Copart in the 1st quarter worth approximately $28,000. Pinnacle Bancorp Inc. boosted its stake in Copart by 79.6% during the first quarter. Pinnacle Bancorp Inc. now owns 528 shares of the business services provider’s stock worth $31,000 after buying an additional 234 shares during the period. Crewe Advisors LLC increased its position in Copart by 98.6% during the second quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 280 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of Copart by 477.7% in the second quarter. Versant Capital Management Inc now owns 595 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 492 shares during the period. Finally, Indiana Trust & Investment Management CO bought a new stake in shares of Copart in the 1st quarter worth about $36,000. Institutional investors own 85.78% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Copart Stock Down 0.1 %

CPRT stock opened at $49.42 on Tuesday. The firm has a market cap of $47.56 billion, a price-to-earnings ratio of 34.80 and a beta of 1.27. Copart, Inc. has a twelve month low of $42.41 and a twelve month high of $58.58. The business’s fifty day simple moving average is $52.21 and its two-hundred day simple moving average is $53.88.

Copart (NASDAQ:CPRT) last announced 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 company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.34 EPS. Research analysts expect that Copart, Inc. will post 1.54 EPS 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.