Gulf International Bank UK Ltd Sells 3,306 Shares of Copart, Inc. (NASDAQ:CPRT)

Gulf International Bank UK Ltd reduced its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 4.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,958 shares of the business services provider’s stock after selling 3,306 shares during the period. Gulf International Bank UK Ltd’s holdings in Copart were worth $3,560,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its holdings in Copart by 8.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 16,008,444 shares of the business services provider’s stock valued at $867,017,000 after acquiring an additional 1,199,781 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Copart by 0.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,898,956 shares of the business services provider’s stock worth $427,807,000 after acquiring an additional 30,454 shares in the last quarter. Legal & General Group Plc lifted its position in Copart by 9.4% during the second quarter. Legal & General Group Plc now owns 6,943,042 shares of the business services provider’s stock valued at $376,035,000 after purchasing an additional 598,566 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Copart by 28.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,861,282 shares of the business services provider’s stock valued at $397,406,000 after acquiring an additional 1,500,466 shares during the last quarter. Finally, William Blair Investment Management LLC grew its position in Copart by 9.9% in the first quarter. William Blair Investment Management LLC now owns 5,498,210 shares of the business services provider’s stock worth $318,456,000 after acquiring an additional 496,643 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Copart Trading Up 0.8 %

Shares of Copart stock opened at $52.89 on Wednesday. The stock’s fifty day moving average price is $52.26 and its 200-day moving average price is $52.99. The firm has a market cap of $50.95 billion, a P/E ratio of 38.05 and a beta of 1.27. Copart, Inc. has a 12 month low of $45.50 and a 12 month high of $58.58.

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