Brighton Jones LLC Reduces Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Brighton Jones LLC lowered its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 23.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 7,398 shares of the business services provider’s stock after selling 2,259 shares during the quarter. Brighton Jones LLC’s holdings in Copart were worth $388,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CPRT. International Assets Investment Management LLC bought a new stake in shares of Copart in the 3rd quarter worth about $4,330,000. MFA Wealth Advisors LLC raised its position in Copart by 17.2% in the 3rd quarter. MFA Wealth Advisors LLC now owns 56,484 shares of the business services provider’s stock worth $2,960,000 after purchasing an additional 8,273 shares during the period. Litman Gregory Wealth Management LLC lifted its stake in Copart by 4.2% in the third quarter. Litman Gregory Wealth Management LLC now owns 170,011 shares of the business services provider’s stock worth $8,909,000 after purchasing an additional 6,775 shares during the last quarter. Greenleaf Trust lifted its stake in Copart by 1.5% in the third quarter. Greenleaf Trust now owns 16,889 shares of the business services provider’s stock worth $885,000 after purchasing an additional 249 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI boosted its position in shares of Copart by 23.3% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 7,428 shares of the business services provider’s stock valued at $390,000 after buying an additional 1,402 shares during the period. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Stock Performance

NASDAQ:CPRT opened at $51.71 on Friday. The firm has a 50-day simple moving average of $52.30 and a 200-day simple moving average of $53.15. Copart, Inc. has a one year low of $42.41 and a one year high of $58.58. The firm has a market cap of $49.76 billion, a P/E ratio of 36.42 and a beta of 1.27.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Wednesday, September 4th. The business services provider reported $0.33 EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $1.07 billion. During the same period in the previous year, the firm posted $0.34 earnings per share. The company’s revenue was up 7.2% on a year-over-year basis. On average, research analysts predict that Copart, Inc. will post 1.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Robert W. Baird reduced their target price on Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th.

About Copart

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.