Swedbank AB Cuts Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Swedbank AB reduced its position in Copart, Inc. (NASDAQ:CPRT) by 0.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 666,386 shares of the business services provider’s stock after selling 663 shares during the quarter. Swedbank AB owned about 0.07% of Copart worth $34,919,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Optimum Investment Advisors raised its holdings in Copart by 141.5% in the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 300 shares during the last quarter. Eastern Bank purchased a new position in Copart during the third quarter worth approximately $29,000. Crewe Advisors LLC boosted its stake in Copart by 98.6% during the second quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock worth $31,000 after buying an additional 280 shares during the last quarter. Meeder Asset Management Inc. grew its holdings in Copart by 283.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock valued at $31,000 after buying an additional 425 shares in the last quarter. Finally, Versant Capital Management Inc increased its stake in shares of Copart by 477.7% in the 2nd quarter. Versant Capital Management Inc now owns 595 shares of the business services provider’s stock worth $32,000 after acquiring an additional 492 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Wall Street Analysts Forecast Growth

CPRT has been the topic of several recent research reports. JPMorgan Chase & Co. boosted their price target 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 decreased 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.

Copart Trading Up 1.7 %

NASDAQ CPRT opened at $63.75 on Tuesday. The stock has a fifty day simple moving average of $54.07 and a 200-day simple moving average of $53.24. The stock has a market cap of $61.42 billion, a PE ratio of 44.89 and a beta of 1.27. Copart, Inc. has a twelve month low of $46.21 and a twelve month high of $64.19.

Copart (NASDAQ:CPRT) last announced 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 return on equity of 18.96% and a net margin of 31.92%. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period last year, the business earned $0.34 EPS. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. Research analysts predict that Copart, Inc. will post 1.55 EPS for the current year.

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.