Brown Brothers Harriman & Co. Trims Stake in Copart, Inc. (NASDAQ:CPRT)

Brown Brothers Harriman & Co. lessened its holdings in Copart, Inc. (NASDAQ:CPRT) by 79.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 806,446 shares of the business services provider’s stock after selling 3,105,712 shares during the period. Brown Brothers Harriman & Co. owned approximately 0.08% of Copart worth $43,677,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of CPRT. Principal Financial Group Inc. raised its holdings in shares of Copart by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 39,232,895 shares of the business services provider’s stock valued at $2,272,369,000 after buying an additional 1,009,053 shares during the period. Capital World Investors increased its stake in Copart by 1.0% during the fourth quarter. Capital World Investors now owns 21,419,398 shares of the business services provider’s stock worth $1,049,551,000 after purchasing an additional 207,349 shares during the period. Bank of New York Mellon Corp increased its stake in Copart by 8.1% during the second quarter. Bank of New York Mellon Corp now owns 16,008,444 shares of the business services provider’s stock worth $867,017,000 after purchasing an additional 1,199,781 shares during the period. Norges Bank purchased a new position in shares of Copart in the fourth quarter valued at approximately $463,262,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Copart by 28.0% in the first 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 purchasing an additional 1,500,466 shares in the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Price Performance

CPRT stock opened at $50.23 on Monday. The business’s 50-day moving average is $51.85 and its two-hundred day moving average is $53.80. The firm has a market capitalization of $48.34 billion, a P/E ratio of 35.37 and a beta of 1.27. Copart, Inc. has a 1 year low of $42.41 and a 1 year high of $58.58.

Copart (NASDAQ:CPRT) last issued its earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). Copart had a net margin of 32.17% and a return on equity of 19.55%. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the business earned $0.34 EPS. The firm’s revenue was up 7.2% compared to the same quarter last year. On average, analysts expect that Copart, Inc. will post 1.54 EPS for the current year.

Analyst Ratings Changes

Separately, Robert W. Baird reduced their target price 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.

About Copart

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.