Price T Rowe Associates Inc. MD Sells 53,152 Shares of Copart, Inc. (NASDAQ:CPRT)

Price T Rowe Associates Inc. MD reduced its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 7.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 670,278 shares of the business services provider’s stock after selling 53,152 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.29% of Copart worth $50,097,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of CPRT. Capital Investment Advisory Services LLC purchased a new stake in Copart during the second quarter valued at $29,000. Cordasco Financial Network increased its position in Copart by 170.7% during the second quarter. Cordasco Financial Network now owns 471 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 297 shares during the last quarter. Redhawk Wealth Advisors Inc. purchased a new stake in Copart during the second quarter valued at $37,000. Commonwealth Bank of Australia increased its position in Copart by 132.9% during the second quarter. Commonwealth Bank of Australia now owns 517 shares of the business services provider’s stock valued at $37,000 after acquiring an additional 295 shares during the last quarter. Finally, Certified Advisory Corp purchased a new stake in Copart during the second quarter valued at $38,000. Institutional investors own 81.98% of the company’s stock.

CPRT traded up $1.04 during midday trading on Friday, reaching $80.26. The company had a trading volume of 78,893 shares, compared to its average volume of 1,608,344. The company has a quick ratio of 1.99, a current ratio of 2.44 and a debt-to-equity ratio of 0.22. The business has a 50-day moving average of $78.50 and a two-hundred day moving average of $72.23. The company has a market cap of $18.15 billion, a P/E ratio of 35.67, a P/E/G ratio of 1.52 and a beta of 0.82. Copart, Inc. has a 1 year low of $44.61 and a 1 year high of $83.70.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Wednesday, September 4th. The business services provider reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. The business had revenue of $542.60 million during the quarter, compared to analysts’ expectations of $517.84 million. Copart had a return on equity of 32.83% and a net margin of 28.98%. The business’s quarterly revenue was up 20.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.42 earnings per share. On average, equities research analysts predict that Copart, Inc. will post 2.61 EPS for the current year.

In other Copart news, insider William E. Franklin sold 41,007 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $77.37, for a total value of $3,172,711.59. Following the completion of the sale, the insider now owns 58,974 shares in the company, valued at $4,562,818.38. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 15.99% of the company’s stock.

A number of analysts recently commented on the company. JPMorgan Chase & Co. upped their price objective on Copart from $62.00 to $71.00 and gave the company an “underweight” rating in a research report on Friday, September 6th. Barrington Research reiterated a “hold” rating on shares of Copart in a research report on Wednesday, September 11th. Robert W. Baird set a $85.00 price objective on Copart and gave the company a “buy” rating in a research report on Friday, September 6th. BidaskClub cut Copart from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, ValuEngine cut Copart from a “buy” rating to a “hold” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. Copart has an average rating of “Hold” and an average target price of $75.21.

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.

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Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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