Copart, Inc. (NASDAQ:CPRT) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. reduced its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 3.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,290,885 shares of the business services provider’s stock after selling 49,197 shares during the quarter. Federated Hermes Inc. owned about 0.13% of Copart worth $69,914,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rise Advisors LLC bought a new stake in shares of Copart during the first quarter valued at about $28,000. Pinnacle Bancorp Inc. raised its stake in shares of 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 in the last quarter. Crewe Advisors LLC raised its stake in shares of 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 purchasing an additional 280 shares in the last quarter. Meeder Asset Management Inc. raised its stake in shares of Copart by 283.3% during the second quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 425 shares in the last quarter. Finally, Versant Capital Management Inc raised its stake in shares of Copart by 477.7% during 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. 85.78% of the stock is currently owned by institutional investors.

Copart Trading Up 1.5 %

Shares of Copart stock opened at $50.23 on Friday. The company’s 50-day moving average price is $51.85 and its two-hundred day moving average price is $53.79. 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 $48.34 billion, a PE ratio of 35.37 and a beta of 1.27.

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

Analysts Set New Price Targets

Separately, Robert W. Baird dropped their price target 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 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.