Principal Securities Inc. Cuts Stake in Copart, Inc. (NASDAQ:CPRT)

Principal Securities Inc. cut its position in Copart, Inc. (NASDAQ:CPRT) by 0.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 48,729 shares of the business services provider’s stock after selling 255 shares during the quarter. Principal Securities Inc.’s holdings in Copart were worth $2,553,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Stephens Inc. AR increased its position in shares of Copart by 3.0% during the third quarter. Stephens Inc. AR now owns 27,979 shares of the business services provider’s stock valued at $1,466,000 after acquiring an additional 808 shares in the last quarter. Stephens Investment Management Group LLC increased its holdings in shares of Copart by 7.4% in the 3rd quarter. Stephens Investment Management Group LLC now owns 550,276 shares of the business services provider’s stock worth $28,834,000 after purchasing an additional 37,875 shares in the last quarter. PineStone Asset Management Inc. purchased a new position in shares of Copart in the third quarter worth $28,411,000. United Asset Strategies Inc. lifted its holdings in shares of Copart by 7.0% during the third quarter. United Asset Strategies Inc. now owns 20,670 shares of the business services provider’s stock valued at $1,083,000 after purchasing an additional 1,348 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. boosted its position in shares of Copart by 74.7% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 1,644 shares of the business services provider’s stock valued at $86,000 after buying an additional 703 shares during the last quarter. Institutional investors own 85.78% of the company’s stock.

Wall Street Analyst Weigh In

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

Copart Trading Up 0.0 %

NASDAQ:CPRT opened at $51.49 on Friday. The company has a market cap of $49.60 billion, a PE ratio of 37.04 and a beta of 1.27. The company has a 50 day simple moving average of $52.26 and a two-hundred day simple moving average of $53.01. Copart, Inc. has a 12 month low of $44.05 and a 12 month high of $58.58.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Wednesday, September 4th. The business services provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). Copart had a return on equity of 19.55% and a net margin of 32.17%. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the firm earned $0.34 EPS. The business’s revenue was up 7.2% on a year-over-year basis. Research analysts forecast that Copart, Inc. will post 1.54 earnings per share 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.