Oppenheimer & Co. Inc. Sells 746 Shares of Copart, Inc. (NASDAQ:CPRT)

Oppenheimer & Co. Inc. lessened its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 0.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 110,754 shares of the business services provider’s stock after selling 746 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Copart were worth $5,804,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Optimum Investment Advisors grew its position in shares of Copart by 141.5% in the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock worth $27,000 after buying an additional 300 shares during the last quarter. Eastern Bank purchased a new stake in Copart in the third quarter worth $29,000. Crewe Advisors LLC increased its position in Copart by 98.6% during the 2nd quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 280 shares during the period. Meeder Asset Management Inc. raised its holdings in Copart by 283.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock worth $31,000 after purchasing an additional 425 shares in the last quarter. Finally, Versant Capital Management Inc raised its holdings in Copart by 477.7% in the 2nd quarter. Versant Capital Management Inc now owns 595 shares of the business services provider’s stock worth $32,000 after purchasing an additional 492 shares in the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Price Performance

NASDAQ:CPRT opened at $57.34 on Friday. The firm’s 50-day moving average price is $52.84 and its 200-day moving average price is $53.11. The company has a market capitalization of $55.24 billion, a PE ratio of 41.25 and a beta of 1.27. Copart, Inc. has a 1-year low of $46.21 and a 1-year high of $58.58.

Copart (NASDAQ:CPRT) last posted 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 business had revenue of $1.07 billion for 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 company’s revenue was up 7.2% on a year-over-year basis. Equities analysts anticipate that Copart, Inc. will post 1.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Robert W. Baird reduced their price target 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.

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.