Cynosure Group LLC Reduces Stock Position in Copart, Inc. (NASDAQ:CPRT)

Cynosure Group LLC lowered its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 79.9% in the third quarter, Holdings Channel reports. The institutional investor owned 7,826 shares of the business services provider’s stock after selling 31,126 shares during the quarter. Cynosure Group LLC’s holdings in Copart were worth $410,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. grew its holdings in Copart by 2.5% during the 3rd quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider’s stock worth $2,037,130,000 after acquiring an additional 941,858 shares in the last quarter. Edgewood Management LLC raised its position in shares of Copart by 0.6% during the 3rd quarter. Edgewood Management LLC now owns 20,555,713 shares of the business services provider’s stock valued at $1,077,119,000 after acquiring an additional 125,220 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Copart by 8.1% during the second quarter. Bank of New York Mellon Corp now owns 16,008,444 shares of the business services provider’s stock worth $867,017,000 after purchasing an additional 1,199,781 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Copart by 0.4% in 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 buying an additional 30,454 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Copart by 9.4% in the 2nd quarter. Legal & General Group Plc now owns 6,943,042 shares of the business services provider’s stock valued at $376,035,000 after buying an additional 598,566 shares during the period. Institutional investors own 85.78% of the company’s stock.

Copart Stock Down 0.5 %

Shares of NASDAQ:CPRT opened at $63.51 on Thursday. Copart, Inc. has a fifty-two week low of $46.21 and a fifty-two week high of $64.38. The company has a market cap of $61.18 billion, a PE ratio of 44.73 and a beta of 1.27. The company’s 50-day moving average price is $54.33 and its 200 day moving average price is $53.30.

Copart (NASDAQ:CPRT) last announced its earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. Copart had a net margin of 31.92% and a return on equity of 18.96%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.34 EPS. As a group, equities analysts anticipate that Copart, Inc. will post 1.57 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on CPRT. Robert W. Baird dropped their price objective 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. JPMorgan Chase & Co. increased their price target on Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th.

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.