Forte Capital LLC ADV Decreases Stake in Copart, Inc. (NASDAQ:CPRT)

Forte Capital LLC ADV decreased its holdings in Copart, Inc. (NASDAQ:CPRT) by 5.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 4,240 shares of the business services provider’s stock after selling 228 shares during the quarter. Forte Capital LLC ADV’s holdings in Copart were worth $222,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Optimum Investment Advisors increased its position in shares of Copart by 141.5% in the third quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock worth $27,000 after acquiring an additional 300 shares in the last quarter. Eastern Bank acquired a new stake in Copart in the 3rd quarter valued at $29,000. Crewe Advisors LLC increased its holdings in Copart by 98.6% in 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 in the last quarter. Meeder Asset Management Inc. lifted its stake in shares of Copart by 283.3% during the second 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 boosted its position in shares of Copart by 477.7% in the second quarter. Versant Capital Management Inc now owns 595 shares of the business services provider’s stock worth $32,000 after buying an additional 492 shares during the period. 85.78% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Copart Trading Up 0.6 %

CPRT opened at $55.77 on Friday. Copart, Inc. has a twelve month low of $46.20 and a twelve month high of $58.58. The firm has a market cap of $53.73 billion, a price-to-earnings ratio of 40.12 and a beta of 1.27. The company has a fifty day simple moving average of $52.38 and a 200 day simple moving average of $53.02.

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

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.