Legacy Capital Wealth Partners LLC Trims Stake in Copart, Inc. (NASDAQ:CPRT)

Legacy Capital Wealth Partners LLC reduced its position in shares of Copart, Inc. (NASDAQ:CPRT) by 13.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 5,486 shares of the business services provider’s stock after selling 823 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in Copart were worth $287,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Covestor Ltd increased its holdings in Copart by 5.1% during the 3rd quarter. Covestor Ltd now owns 4,299 shares of the business services provider’s stock worth $225,000 after purchasing an additional 209 shares during the period. Sustainable Insight Capital Management LLC increased its holdings in shares of Copart by 42.8% in the 3rd quarter. Sustainable Insight Capital Management LLC now owns 69,548 shares of the business services provider’s stock valued at $3,644,000 after acquiring an additional 20,848 shares during the period. Bridges Investment Management Inc. increased its holdings in shares of Copart by 0.4% in the 3rd quarter. Bridges Investment Management Inc. now owns 869,850 shares of the business services provider’s stock valued at $45,580,000 after acquiring an additional 3,199 shares during the period. Assetmark Inc. increased its holdings in shares of Copart by 39.6% in the 3rd quarter. Assetmark Inc. now owns 291,440 shares of the business services provider’s stock valued at $15,271,000 after acquiring an additional 82,735 shares during the period. Finally, Pegasus Partners Ltd. purchased a new position in shares of Copart in the 3rd quarter valued at $357,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Price Performance

Shares of CPRT stock opened at $56.75 on Tuesday. Copart, Inc. has a 1-year low of $46.21 and a 1-year high of $58.58. The stock’s fifty day moving average price is $52.52 and its 200 day moving average price is $53.03. The company has a market cap of $54.67 billion, a price-to-earnings ratio of 40.83 and a beta of 1.27.

Copart (NASDAQ:CPRT) last issued its quarterly 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). Copart had a return on equity of 19.55% and a net margin of 32.17%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the firm posted $0.34 EPS. The business’s revenue was up 7.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Copart, Inc. will post 1.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird cut their price target on 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.