Geneva Capital Management LLC Decreases Stake in Copart, Inc. (NASDAQ:CPRT)

Geneva Capital Management LLC reduced its holdings in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 1.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,063,696 shares of the business services provider's stock after selling 19,078 shares during the quarter. Geneva Capital Management LLC owned approximately 0.11% of Copart worth $55,738,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Principal Financial Group Inc. raised its holdings in Copart by 2.5% during the third quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider's stock worth $2,037,130,000 after purchasing an additional 941,858 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Copart by 8.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 16,008,444 shares of the business services provider's stock valued at $867,017,000 after buying an additional 1,199,781 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Copart by 0.4% during 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 acquiring an additional 30,454 shares in the last quarter. Legal & General Group Plc lifted its position in Copart by 9.4% in the second quarter. Legal & General Group Plc now owns 6,943,042 shares of the business services provider's stock valued at $376,035,000 after acquiring an additional 598,566 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Copart by 28.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,861,282 shares of the business services provider's stock valued at $397,406,000 after acquiring an additional 1,500,466 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company's stock.

Copart Trading Up 1.3 %

Shares of NASDAQ CPRT traded up $0.75 during midday trading on Wednesday, reaching $57.93. 1,119,783 shares of the company were exchanged, compared to its average volume of 4,394,705. The stock has a market cap of $55.81 billion, a P/E ratio of 41.58 and a beta of 1.27. Copart, Inc. has a 1 year low of $46.21 and a 1 year high of $58.58. The stock has a fifty day simple moving average of $52.59 and a 200 day simple moving average of $53.04.

Copart (NASDAQ:CPRT - Get Free Report) last released 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). Copart had a net margin of 32.17% and a return on equity of 19.55%. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the firm posted $0.34 EPS. The company's revenue for the quarter was up 7.2% on a year-over-year basis. As a group, analysts forecast that Copart, Inc. will post 1.54 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.