Cynosure Group LLC Trims Holdings in Copart, Inc. (NASDAQ:CPRT)

Cynosure Group LLC cut its position in shares of Copart, Inc. (NASDAQ:CPRT) by 79.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,826 shares of the business services provider’s stock after selling 31,126 shares during the quarter. Cynosure Group LLC’s holdings in Copart were worth $410,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CPRT. Optimum Investment Advisors boosted its position in Copart by 141.5% during the third quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock worth $27,000 after acquiring an additional 300 shares during the last quarter. Eastern Bank acquired a new stake in shares of Copart during the third quarter worth $29,000. Crewe Advisors LLC grew its position in shares of Copart by 98.6% in the second quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 280 shares during the period. Meeder Asset Management Inc. increased its stake in Copart by 283.3% in the second quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 425 shares during the last quarter. Finally, Versant Capital Management Inc lifted its position in Copart by 477.7% during the second quarter. Versant Capital Management Inc now owns 595 shares of the business services provider’s stock worth $32,000 after buying an additional 492 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Price Performance

Copart stock opened at $63.51 on Thursday. Copart, Inc. has a 12 month low of $46.21 and a 12 month high of $64.38. The company has a market cap of $61.18 billion, a price-to-earnings ratio of 44.73 and a beta of 1.27. The stock’s 50-day moving average is $54.33 and its 200-day moving average is $53.30.

Copart (NASDAQ:CPRT) last posted its earnings results on Wednesday, September 4th. The business services provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. Copart had a return on equity of 18.96% and a net margin of 31.92%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.34 earnings per share. Research analysts anticipate that Copart, Inc. will post 1.57 EPS for the current year.

Analyst Ratings Changes

Several analysts have commented on CPRT shares. JPMorgan Chase & Co. lifted their price target on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Robert W. Baird dropped their price target on shares of Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research 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.