Sawgrass Asset Management LLC Sells 6,246 Shares of Copart, Inc. (NASDAQ:CPRT)

Sawgrass Asset Management LLC cut its position in Copart, Inc. (NASDAQ:CPRT) by 4.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 144,795 shares of the business services provider’s stock after selling 6,246 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Copart were worth $7,587,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CPRT. Kinsale Capital Group Inc. grew its position in shares of Copart by 17.7% during the 3rd quarter. Kinsale Capital Group Inc. now owns 89,979 shares of the business services provider’s stock worth $4,715,000 after purchasing an additional 13,554 shares in the last quarter. Comgest Global Investors S.A.S. grew its position in Copart by 706.6% during the third quarter. Comgest Global Investors S.A.S. now owns 1,586,886 shares of the business services provider’s stock worth $83,153,000 after buying an additional 1,390,146 shares in the last quarter. Paragon Advisors LLC grew its position in Copart by 1.9% during the third quarter. Paragon Advisors LLC now owns 40,019 shares of the business services provider’s stock worth $2,097,000 after buying an additional 743 shares in the last quarter. Natixis Advisors LLC increased its stake in Copart by 4.4% during the 3rd quarter. Natixis Advisors LLC now owns 1,290,498 shares of the business services provider’s stock worth $67,622,000 after acquiring an additional 53,834 shares during the period. Finally, Empowered Funds LLC raised its holdings in Copart by 20.9% in the 3rd quarter. Empowered Funds LLC now owns 64,069 shares of the business services provider’s stock valued at $3,357,000 after acquiring an additional 11,089 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Copart Price Performance

Shares of CPRT opened at $56.67 on Friday. The firm has a 50 day simple moving average of $52.99 and a two-hundred day simple moving average of $53.10. Copart, Inc. has a one year low of $46.21 and a one year high of $58.58. The company has a market cap of $54.59 billion, a P/E ratio of 40.77 and a beta of 1.27.

Copart (NASDAQ:CPRT) last posted 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). The business had revenue of $1.07 billion for the quarter, compared to analyst estimates 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 last year, the firm posted $0.34 EPS. On average, analysts expect that Copart, Inc. will post 1.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Robert W. Baird decreased their price target on Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a research 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.