Contravisory Investment Management Inc. Trims Stock Position in Copart, Inc. (NASDAQ:CPRT)

Contravisory Investment Management Inc. lessened its stake in Copart, Inc. (NASDAQ:CPRT) by 0.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 142,844 shares of the business services provider’s stock after selling 915 shares during the period. Contravisory Investment Management Inc.’s holdings in Copart were worth $7,485,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CPRT. Tobam grew its stake in shares of Copart by 35.0% in the third quarter. Tobam now owns 1,934 shares of the business services provider’s stock worth $101,000 after acquiring an additional 501 shares in the last quarter. Quotient Wealth Partners LLC purchased a new stake in Copart in the third quarter valued at $276,000. UMB Bank n.a. lifted its position in Copart by 0.8% in the third quarter. UMB Bank n.a. now owns 300,539 shares of the business services provider’s stock valued at $15,748,000 after acquiring an additional 2,441 shares during the last quarter. CWM LLC lifted its position in Copart by 12.8% in the third quarter. CWM LLC now owns 34,111 shares of the business services provider’s stock valued at $1,787,000 after acquiring an additional 3,869 shares during the last quarter. Finally, Sugarloaf Wealth Management LLC lifted its position in Copart by 2.1% in the third quarter. Sugarloaf Wealth Management LLC now owns 68,667 shares of the business services provider’s stock valued at $3,598,000 after acquiring an additional 1,402 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Wall Street Analyst Weigh In

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

Copart Stock Performance

Shares of CPRT opened at $55.60 on Friday. The company has a market capitalization of $53.56 billion, a P/E ratio of 40.00 and a beta of 1.27. Copart, Inc. has a one year low of $42.41 and a one year high of $58.58. The stock has a 50-day moving average price of $51.71 and a 200 day moving average price of $53.43.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data 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). The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. Copart had a return on equity of 19.55% and a net margin of 32.17%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.34 earnings per share. As a group, equities research analysts forecast that Copart, Inc. will post 1.54 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 on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.