West Coast Financial LLC Reduces Position in Copart, Inc. (CPRT)

West Coast Financial LLC lowered its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 32.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,819 shares of the business services provider’s stock after selling 44,953 shares during the period. West Coast Financial LLC’s holdings in Copart were worth $4,834,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. FMR LLC boosted its stake in Copart by 27.3% during the second quarter. FMR LLC now owns 6,625,549 shares of the business services provider’s stock worth $374,741,000 after acquiring an additional 1,420,739 shares in the last quarter. Northern Trust Corp boosted its stake in Copart by 35.1% during the second quarter. Northern Trust Corp now owns 2,119,824 shares of the business services provider’s stock worth $119,897,000 after acquiring an additional 551,294 shares in the last quarter. Bank of America Corp DE boosted its stake in Copart by 1.2% during the second quarter. Bank of America Corp DE now owns 1,441,175 shares of the business services provider’s stock worth $81,512,000 after acquiring an additional 16,905 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Copart by 6.8% during the second quarter. Janus Henderson Group PLC now owns 1,355,709 shares of the business services provider’s stock worth $76,679,000 after acquiring an additional 86,514 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Copart by 0.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,305,852 shares of the business services provider’s stock worth $73,856,000 after acquiring an additional 4,137 shares in the last quarter. 82.61% of the stock is currently owned by institutional investors and hedge funds.

CPRT has been the topic of several research reports. BidaskClub raised shares of Copart from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 21st. Zacks Investment Research upgraded shares of Copart from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research note on Tuesday, July 17th. Northcoast Research reiterated a “neutral” rating on shares of Copart in a research note on Monday, September 17th. Finally, Barrington Research reiterated a “hold” rating on shares of Copart in a research note on Tuesday, September 18th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $55.14.

Shares of NASDAQ CPRT traded down $0.48 during midday trading on Friday, hitting $49.28. The stock had a trading volume of 164,404 shares, compared to its average volume of 3,599,884. The company has a market cap of $11.93 billion, a PE ratio of 28.94, a P/E/G ratio of 1.04 and a beta of 0.99. Copart, Inc. has a 52 week low of $35.32 and a 52 week high of $67.08. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.50 and a current ratio of 2.56.

Copart (NASDAQ:CPRT) last issued its earnings results on Wednesday, September 19th. The business services provider reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.06). The firm had revenue of $449.20 million during the quarter, compared to the consensus estimate of $448.64 million. Copart had a return on equity of 29.92% and a net margin of 23.14%. The company’s quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.35 EPS. On average, analysts forecast that Copart, Inc. will post 2.13 earnings per share for the current fiscal year.

Copart Company 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 to vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as for individual owners.

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Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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