Jackson Hill Advisors LLC Reduces Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Jackson Hill Advisors LLC reduced its holdings in Copart, Inc. (NASDAQ:CPRT) by 2.4% during the third quarter, Holdings Channel reports. The firm owned 206,000 shares of the business services provider’s stock after selling 5,000 shares during the period. Copart makes up 5.5% of Jackson Hill Advisors LLC’s portfolio, making the stock its 10th largest holding. Jackson Hill Advisors LLC’s holdings in Copart were worth $10,794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Silvercrest Asset Management Group LLC increased its position in shares of Copart by 40.6% in the first quarter. Silvercrest Asset Management Group LLC now owns 37,962 shares of the business services provider’s stock worth $2,199,000 after acquiring an additional 10,959 shares in the last quarter. Manning & Napier Advisors LLC purchased a new position in shares of Copart in the second quarter worth approximately $109,382,000. Edgestream Partners L.P. purchased a new position in shares of Copart in the first quarter worth approximately $644,000. Comerica Bank increased its position in shares of Copart by 5.9% in the first quarter. Comerica Bank now owns 336,206 shares of the business services provider’s stock worth $19,473,000 after acquiring an additional 18,605 shares in the last quarter. Finally, Cetera Investment Advisers increased its position in shares of 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 in the last quarter. 85.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Robert W. Baird dropped their target price on shares of Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th.

Copart Stock Performance

Shares of CPRT opened at $56.67 on Monday. The company’s 50 day moving average price is $52.99 and its 200 day moving average price is $53.10. Copart, Inc. has a 52 week low of $46.21 and a 52 week high of $58.58. The company has a market capitalization of $54.59 billion, a PE ratio of 40.77 and a beta of 1.27.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data 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). 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 analysts’ expectations of $1.07 billion. During the same period in the previous year, the firm posted $0.34 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities analysts forecast that Copart, Inc. will post 1.54 earnings per share for the current fiscal 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.