Perpetual Ltd Sells 422 Shares of Copart, Inc. (NASDAQ:CPRT)

Perpetual Ltd reduced its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 0.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 166,864 shares of the business services provider’s stock after selling 422 shares during the quarter. Perpetual Ltd’s holdings in Copart were worth $8,744,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of CPRT. Manning & Napier Advisors LLC purchased a new stake in shares of Copart during the 2nd 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 worth $397,406,000 after purchasing 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 worth $281,616,000 after purchasing an additional 1,469,292 shares during the last quarter. Kimelman & Baird LLC bought a new stake in Copart in the 2nd quarter worth approximately $70,307,000. Finally, Bank of New York Mellon Corp raised its stake in Copart by 8.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 16,008,444 shares of the business services provider’s stock valued at $867,017,000 after buying an additional 1,199,781 shares during the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Price Performance

Shares of Copart stock opened at $55.60 on Friday. The stock has a market capitalization of $53.50 billion, a PE ratio of 39.15 and a beta of 1.27. Copart, Inc. has a 1-year low of $42.41 and a 1-year high of $58.58. The company’s fifty day simple moving average is $51.71 and its 200-day simple moving average is $53.43.

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 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 company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.34 EPS. As a group, research analysts anticipate that Copart, Inc. will post 1.54 EPS for the current year.

Analysts Set New Price Targets

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.