Royal London Asset Management Ltd. Has $76.58 Million Stake in Copart, Inc. (NASDAQ:CPRT)

Royal London Asset Management Ltd. reduced its holdings in Copart, Inc. (NASDAQ:CPRT) by 22.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,413,889 shares of the business services provider’s stock after selling 402,380 shares during the period. Royal London Asset Management Ltd.’s holdings in Copart were worth $76,576,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CPRT. Rise Advisors LLC bought a new position in shares of Copart in the 1st quarter valued at about $28,000. Pinnacle Bancorp Inc. boosted its position in Copart by 79.6% during the first quarter. Pinnacle Bancorp Inc. now owns 528 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 234 shares during the last quarter. Crewe Advisors LLC grew its stake in Copart by 98.6% in the second quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 280 shares in the last quarter. Versant Capital Management Inc grew its stake in 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 purchasing an additional 492 shares in the last quarter. Finally, Indiana Trust & Investment Management CO acquired a new position in shares of Copart during the 1st quarter worth approximately $36,000. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Stock Performance

Shares of CPRT stock opened at $49.42 on Tuesday. Copart, Inc. has a 52-week low of $42.41 and a 52-week high of $58.58. The stock has a market cap of $47.56 billion, a price-to-earnings ratio of 34.80 and a beta of 1.27. The firm’s 50-day moving average is $52.21 and its 200-day moving average is $53.88.

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). Copart had a return on equity of 19.55% and a net margin of 32.17%. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the business posted $0.34 earnings per share. Copart’s revenue was up 7.2% compared to the same quarter last year. Sell-side analysts predict that Copart, Inc. will post 1.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird cut 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 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.