Brown Brothers Harriman & Co. Sells 193,431 Shares of Copart, Inc. (NASDAQ:CPRT)

Brown Brothers Harriman & Co. decreased its holdings in Copart, Inc. (NASDAQ:CPRT) by 24.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 613,015 shares of the business services provider’s stock after selling 193,431 shares during the period. Brown Brothers Harriman & Co.’s holdings in Copart were worth $32,122,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Jensen Investment Management Inc. increased its position in Copart by 2,466.0% in the third quarter. Jensen Investment Management Inc. now owns 3,536,233 shares of the business services provider’s stock worth $185,299,000 after purchasing an additional 3,398,423 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of 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 worth $192,240,000 after purchasing an additional 3,016,795 shares during the last quarter. Manning & Napier Advisors LLC purchased a new position in shares of Copart during the second quarter worth approximately $109,382,000. Comgest Global Investors S.A.S. raised its position in Copart by 706.6% during the 3rd quarter. Comgest Global Investors S.A.S. now owns 1,586,886 shares of the business services provider’s stock valued at $83,153,000 after purchasing an additional 1,390,146 shares in the last quarter. Finally, Kimelman & Baird LLC purchased a new stake in Copart in the second quarter worth about $70,307,000. 85.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CPRT. JPMorgan Chase & Co. raised their price objective on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Robert W. Baird lowered their price target on Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th.

Copart Trading Up 10.2 %

NASDAQ:CPRT opened at $62.70 on Monday. The company’s 50-day moving average price is $53.79 and its 200-day moving average price is $53.18. The company has a market cap of $60.40 billion, a P/E ratio of 44.15 and a beta of 1.27. Copart, Inc. has a twelve month low of $46.21 and a twelve month high of $62.90.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). Copart had a net margin of 31.92% and a return on equity of 18.96%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the firm posted $0.34 EPS. The company’s revenue was up 7.2% compared to the same quarter last year. On average, analysts expect that Copart, Inc. will post 1.55 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.