Baltimore Washington Financial Advisors Inc. decreased its holdings in Copart, Inc. (NASDAQ:CPRT) by 5.3% in the first quarter, HoldingsChannel reports. The institutional investor owned 44,389 shares of the business services provider’s stock after selling 2,480 shares during the period. Baltimore Washington Financial Advisors Inc.’s holdings in Copart were worth $2,689,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in CPRT. CSat Investment Advisory L.P. increased its position in shares of Copart by 120.4% during the 4th quarter. CSat Investment Advisory L.P. now owns 518 shares of the business services provider’s stock worth $25,000 after purchasing an additional 283 shares in the last quarter. Doyle Wealth Management acquired a new stake in shares of Copart during the 4th quarter worth about $29,000. Lindbrook Capital LLC acquired a new stake in shares of Copart during the 4th quarter worth about $41,000. First Personal Financial Services increased its position in shares of Copart by 142.6% during the 4th quarter. First Personal Financial Services now owns 1,368 shares of the business services provider’s stock worth $65,000 after purchasing an additional 804 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its position in shares of Copart by 2,981.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,084,103 shares of the business services provider’s stock worth $65,000 after purchasing an additional 2,984,019 shares in the last quarter. Institutional investors own 85.26% of the company’s stock.
A number of equities research analysts recently issued reports on CPRT shares. BidaskClub upgraded shares of Copart from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, January 15th. Zacks Investment Research upgraded shares of Copart from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research report on Monday, February 4th. Barrington Research reiterated a “hold” rating on shares of Copart in a research report on Tuesday, February 19th. ValuEngine upgraded shares of Copart from a “hold” rating to a “buy” rating in a research report on Monday, February 25th. Finally, SunTrust Banks raised their price objective on shares of Copart to $67.00 and gave the company a “buy” rating in a research report on Tuesday, February 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $59.67.
Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Wednesday, February 20th. The business services provider reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.01. The firm had revenue of $484.90 million during the quarter, compared to analysts’ expectations of $488.54 million. Copart had a net margin of 25.75% and a return on equity of 30.20%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.47 EPS. On average, research analysts predict that Copart, Inc. will post 2.15 EPS for the current year.
In other Copart news, EVP William E. Franklin sold 140,000 shares of the firm’s stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $58.44, for a total value of $8,181,600.00. Following the completion of the sale, the executive vice president now owns 157,967 shares in the company, valued at approximately $9,231,591.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 15.99% of the company’s stock.
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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.
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