Bridges Investment Management Inc. Has $35.63 Million Stock Position in Copart, Inc. $CPRT

Bridges Investment Management Inc. lowered its stake in Copart, Inc. (NASDAQ:CPRTFree Report) by 11.7% during the second quarter, Holdings Channel reports. The institutional investor owned 726,009 shares of the business services provider’s stock after selling 96,510 shares during the period. Bridges Investment Management Inc.’s holdings in Copart were worth $35,625,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. GC Wealth Management RIA LLC acquired a new position in Copart in the 2nd quarter valued at about $219,000. Sowell Financial Services LLC bought a new stake in Copart in the 1st quarter valued at about $604,000. China Universal Asset Management Co. Ltd. boosted its holdings in Copart by 52.2% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 23,862 shares of the business services provider’s stock valued at $1,350,000 after purchasing an additional 8,181 shares during the period. Private Trust Co. NA boosted its holdings in Copart by 16.5% in the 1st quarter. Private Trust Co. NA now owns 4,142 shares of the business services provider’s stock valued at $234,000 after purchasing an additional 586 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in Copart by 15.9% in the 1st quarter. JPMorgan Chase & Co. now owns 15,345,768 shares of the business services provider’s stock valued at $868,417,000 after purchasing an additional 2,106,656 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CPRT shares. Robert W. Baird cut their price objective on shares of Copart from $64.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday, July 17th. HSBC set a $62.00 price objective on shares of Copart and gave the company a “buy” rating in a report on Thursday, September 4th. Stephens cut their price objective on shares of Copart from $50.00 to $46.00 and set an “equal weight” rating for the company in a report on Friday, September 5th. Hsbc Global Res raised shares of Copart from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 4th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Copart in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $54.50.

Read Our Latest Report on CPRT

Insider Buying and Selling at Copart

In related news, Director Thomas N. Tryforos sold 228,840 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $47.54, for a total transaction of $10,879,053.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 9.68% of the company’s stock.

Copart Trading Down 0.5%

Shares of Copart stock opened at $44.56 on Thursday. The company has a 50 day moving average of $46.68 and a 200-day moving average of $51.06. Copart, Inc. has a 1-year low of $43.71 and a 1-year high of $64.38. The company has a market cap of $43.12 billion, a PE ratio of 27.85 and a beta of 1.03.

Copart (NASDAQ:CPRTGet Free Report) last issued its quarterly earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. Copart had a net margin of 33.41% and a return on equity of 18.17%. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the firm posted $0.33 EPS. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. Research analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current year.

About Copart

(Free Report)

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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Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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