Cerity Partners LLC Has $17.38 Million Holdings in Copart, Inc. (NASDAQ:CPRT)

Cerity Partners LLC lifted its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 3.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 307,082 shares of the business services provider’s stock after acquiring an additional 9,415 shares during the quarter. Cerity Partners LLC’s holdings in Copart were worth $17,378,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Cloud Capital Management LLC bought a new position in shares of Copart in the first quarter worth about $26,000. Sandy Spring Bank grew its holdings in Copart by 59.5% in the 4th quarter. Sandy Spring Bank now owns 472 shares of the business services provider’s stock valued at $27,000 after buying an additional 176 shares during the last quarter. Sunbelt Securities Inc. bought a new position in Copart in the 4th quarter worth approximately $31,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Copart during the fourth quarter worth approximately $45,000. Finally, Versant Capital Management Inc lifted its holdings in shares of Copart by 1,567.9% during the first quarter. Versant Capital Management Inc now owns 884 shares of the business services provider’s stock worth $50,000 after buying an additional 831 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Stock Performance

Shares of NASDAQ CPRT opened at $47.46 on Monday. Copart, Inc. has a 52-week low of $47.33 and a 52-week high of $64.38. The business has a fifty day moving average of $53.03 and a two-hundred day moving average of $55.68. The stock has a market cap of $45.89 billion, a PE ratio of 31.22 and a beta of 1.07.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, May 22nd. The business services provider reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.42. The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Copart had a net margin of 32.21% and a return on equity of 18.20%. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter last year, the company posted $0.39 EPS. Analysts predict that Copart, Inc. will post 1.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CPRT. JPMorgan Chase & Co. cut their price objective on shares of Copart from $60.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, May 23rd. Stephens initiated coverage on Copart in a report on Tuesday, July 8th. They issued an “equal weight” rating and a $50.00 price target for the company.

Copart Company 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.