Citigroup Inc. Decreases Holdings in Copart, Inc. (NASDAQ:CPRT)

Citigroup Inc. trimmed its position in shares of Copart, Inc. (NASDAQ:CPRT) by 33.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,231,508 shares of the business services provider’s stock after selling 620,378 shares during the quarter. Citigroup Inc. owned 0.13% of Copart worth $64,531,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Silvercrest Asset Management Group LLC grew its stake in shares of Copart by 40.6% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 37,962 shares of the business services provider’s stock valued at $2,199,000 after purchasing an additional 10,959 shares during the period. Manning & Napier Advisors LLC purchased a new position in shares of Copart in the second quarter worth approximately $109,382,000. Comerica Bank grew its position in Copart by 5.9% during the first quarter. Comerica Bank now owns 336,206 shares of the business services provider’s stock valued at $19,473,000 after buying an additional 18,605 shares during the period. Kinsale Capital Group Inc. increased its holdings in Copart by 17.7% during the third quarter. Kinsale Capital Group Inc. now owns 89,979 shares of the business services provider’s stock valued at $4,715,000 after buying an additional 13,554 shares during the last quarter. Finally, Cetera Investment Advisers raised its position in Copart by 162.9% in the first quarter. Cetera Investment Advisers now owns 184,417 shares of the business services provider’s stock worth $10,681,000 after acquiring an additional 114,263 shares during the period. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CPRT shares. JPMorgan Chase & Co. boosted their price objective on shares of Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Robert W. Baird lowered their target price on Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th.

Copart Price Performance

Shares of NASDAQ:CPRT opened at $62.70 on Friday. The company has a market capitalization of $60.40 billion, a P/E ratio of 44.15 and a beta of 1.27. Copart, Inc. has a 1-year low of $46.21 and a 1-year high of $62.90. The firm’s 50 day simple moving average is $53.79 and its two-hundred day simple moving average is $53.19.

Copart (NASDAQ:CPRT) last released its earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). Copart had a net margin of 31.92% and a return on equity of 19.45%. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter last year, the firm posted $0.34 EPS. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Copart, Inc. will post 1.55 earnings per share for the current fiscal year.

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.