Copart, Inc. (NASDAQ:CPRT) Shares Bought by Massmutual Trust Co. FSB ADV

Massmutual Trust Co. FSB ADV grew its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 79.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,344 shares of the business services provider’s stock after acquiring an additional 3,693 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Copart were worth $452,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CPRT. Cadence Bank lifted its position in shares of Copart by 0.6% in the 1st quarter. Cadence Bank now owns 31,371 shares of the business services provider’s stock worth $1,817,000 after buying an additional 187 shares during the last quarter. Dorsey & Whitney Trust CO LLC raised its position in shares of Copart by 2.4% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 9,054 shares of the business services provider’s stock worth $524,000 after buying an additional 209 shares in the last quarter. PDS Planning Inc raised its position in shares of Copart by 5.0% during the 1st quarter. PDS Planning Inc now owns 4,538 shares of the business services provider’s stock worth $263,000 after buying an additional 216 shares in the last quarter. Rathbones Group PLC raised its position in shares of Copart by 2.9% during the 4th quarter. Rathbones Group PLC now owns 7,821 shares of the business services provider’s stock worth $383,000 after buying an additional 221 shares in the last quarter. Finally, Panagora Asset Management Inc. raised its position in shares of Copart by 0.9% during the 4th quarter. Panagora Asset Management Inc. now owns 25,133 shares of the business services provider’s stock worth $1,232,000 after buying an additional 226 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Copart Stock Down 2.5 %

Shares of Copart stock traded down $1.27 during trading on Tuesday, hitting $49.66. The stock had a trading volume of 7,147,853 shares, compared to its average volume of 4,492,055. The stock has a 50 day simple moving average of $53.33 and a 200 day simple moving average of $53.51. The company has a market capitalization of $47.79 billion, a PE ratio of 35.87 and a beta of 1.28. Copart, Inc. has a 1 year low of $42.41 and a 1 year high of $58.58.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, May 16th. The business services provider reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.01. Copart had a net margin of 33.33% and a return on equity of 20.80%. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the company earned $0.36 EPS. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. As a group, equities analysts expect that Copart, Inc. will post 1.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. lifted their price objective on shares of Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $51.00.

Copart 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.