Copart, Inc. (NASDAQ:CPRT) Shares Sold by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc cut its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 1.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 431,179 shares of the business services provider’s stock after selling 4,774 shares during the period. Pinnacle Financial Partners Inc’s holdings in Copart were worth $22,594,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CPRT. Silvercrest Asset Management Group LLC lifted its holdings 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 in the last quarter. Motco grew its position in shares of Copart by 6,085.7% in the first quarter. Motco now owns 10,392 shares of the business services provider’s stock valued at $602,000 after purchasing an additional 10,224 shares in the last quarter. Twin Tree Management LP acquired a new stake in shares of Copart in the first quarter valued at approximately $3,877,000. Manning & Napier Advisors LLC acquired a new stake in shares of Copart in the 2nd quarter worth $109,382,000. Finally, Edgestream Partners L.P. purchased a new position in shares of Copart during the 1st quarter worth $644,000. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Stock Up 0.8 %

Copart stock opened at $57.18 on Wednesday. The firm’s 50-day simple moving average is $52.59 and its 200 day simple moving average is $53.04. Copart, Inc. has a 52 week low of $46.21 and a 52 week high of $58.58. The firm has a market capitalization of $55.09 billion, a PE ratio of 41.14 and a beta of 1.27.

Copart (NASDAQ:CPRT) last posted 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 business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. Copart had a return on equity of 19.55% and a net margin of 32.17%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the company posted $0.34 EPS. On average, research analysts expect 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 objective on shares of Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th.

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.