Massachusetts Financial Services Co. MA Has $289.47 Million Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Massachusetts Financial Services Co. MA trimmed its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 30.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 5,524,321 shares of the business services provider’s stock after selling 2,374,635 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Copart were worth $289,474,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. CreativeOne Wealth LLC acquired a new stake in shares of Copart during the 1st quarter valued at $344,000. EP Wealth Advisors LLC grew its stake in Copart by 18.4% in the first quarter. EP Wealth Advisors LLC now owns 10,402 shares of the business services provider’s stock valued at $602,000 after purchasing an additional 1,614 shares in the last quarter. Advisors Asset Management Inc. increased its position in Copart by 108.1% in the 1st quarter. Advisors Asset Management Inc. now owns 9,299 shares of the business services provider’s stock worth $539,000 after purchasing an additional 4,831 shares during the last quarter. 1832 Asset Management L.P. raised its stake in shares of Copart by 2.2% during the 1st quarter. 1832 Asset Management L.P. now owns 82,105 shares of the business services provider’s stock worth $4,756,000 after purchasing an additional 1,741 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Copart by 28.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,861,282 shares of the business services provider’s stock valued at $397,406,000 after buying an additional 1,500,466 shares during the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Stock Performance

Shares of CPRT stock opened at $62.70 on Friday. The stock’s 50 day simple moving average is $53.79 and its 200 day simple moving average is $53.21. Copart, Inc. has a twelve month low of $46.21 and a twelve month high of $62.90. The company has a market capitalization of $60.40 billion, a price-to-earnings ratio of 44.15 and a beta of 1.27.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Wednesday, September 4th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.07 billion. Copart had a return on equity of 19.55% and a net margin of 32.17%. Copart’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.34 earnings per share. On average, analysts forecast that Copart, Inc. will post 1.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CPRT shares. JPMorgan Chase & Co. increased their price objective on Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday. Robert W. Baird cut their price target on shares of Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th.

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.