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

Sentry Investment Management LLC decreased its position in shares of Copart, Inc. (NASDAQ:CPRT) by 17.0% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 3,786 shares of the business services provider’s stock after selling 775 shares during the quarter. Sentry Investment Management LLC’s holdings in Copart were worth $205,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Perpetual Ltd grew its stake in Copart by 9.6% during the 1st quarter. Perpetual Ltd now owns 161,318 shares of the business services provider’s stock worth $9,344,000 after buying an additional 14,126 shares during the last quarter. Nordea Investment Management AB grew its position in shares of Copart by 44.1% during the first quarter. Nordea Investment Management AB now owns 2,078,277 shares of the business services provider’s stock worth $120,602,000 after acquiring an additional 636,438 shares during the last quarter. Baird Financial Group Inc. increased its holdings in shares of Copart by 15.9% in the 4th quarter. Baird Financial Group Inc. now owns 2,922,176 shares of the business services provider’s stock valued at $143,187,000 after acquiring an additional 400,940 shares during the period. Silvercrest Asset Management Group LLC raised its position in Copart by 40.6% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 37,962 shares of the business services provider’s stock valued at $2,199,000 after purchasing an additional 10,959 shares during the last quarter. Finally, Motco boosted its stake in Copart by 6,085.7% during the 1st quarter. Motco now owns 10,392 shares of the business services provider’s stock worth $602,000 after purchasing an additional 10,224 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Copart Trading Down 0.3 %

NASDAQ:CPRT opened at $49.38 on Thursday. Copart, Inc. has a 12-month low of $42.41 and a 12-month high of $58.58. The stock’s 50 day simple moving average is $52.02 and its 200-day simple moving average is $53.84. The firm has a market cap of $47.52 billion, a P/E ratio of 34.77 and a beta of 1.27.

Copart (NASDAQ:CPRT) last announced 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). Copart had a net margin of 32.17% and a return on equity of 19.55%. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the firm posted $0.34 earnings per share. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. Research analysts forecast that Copart, Inc. will post 1.54 EPS for the current fiscal year.

Copart 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.