Oppenheimer & Co. Inc. Decreases Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Oppenheimer & Co. Inc. cut its stake in Copart, Inc. (NASDAQ:CPRT) by 0.7% in the third quarter, HoldingsChannel.com reports. The fund owned 110,754 shares of the business services provider’s stock after selling 746 shares during the period. Oppenheimer & Co. Inc.’s holdings in Copart were worth $5,804,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in CPRT. Optimum Investment Advisors grew its position in Copart by 141.5% in the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock worth $27,000 after purchasing an additional 300 shares during the period. Eastern Bank purchased a new position in shares of Copart in the 3rd quarter worth $29,000. Crewe Advisors LLC grew its holdings in shares of Copart by 98.6% in the second quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock worth $31,000 after acquiring an additional 280 shares during the period. Meeder Asset Management Inc. increased its position in Copart by 283.3% during the second quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 425 shares during the last quarter. Finally, Versant Capital Management Inc lifted its holdings in Copart by 477.7% in the second quarter. Versant Capital Management Inc now owns 595 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 492 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Robert W. Baird cut their price target on Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th.

Copart Price Performance

Shares of Copart stock opened at $57.34 on Friday. The stock has a market capitalization of $55.24 billion, a PE ratio of 41.25 and a beta of 1.27. Copart, Inc. has a 1-year low of $46.21 and a 1-year high of $58.58. The company’s fifty day simple moving average is $52.84 and its 200-day simple moving average is $53.11.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share (EPS) 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 company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the firm posted $0.34 EPS. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, research analysts anticipate that Copart, Inc. will post 1.54 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.