Boston Financial Mangement LLC Sells 18,923 Shares of Copart, Inc. (NASDAQ:CPRT)

Boston Financial Mangement LLC trimmed its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 0.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,989,991 shares of the business services provider's stock after selling 18,923 shares during the quarter. Copart makes up about 3.1% of Boston Financial Mangement LLC's portfolio, making the stock its 5th biggest holding. Boston Financial Mangement LLC owned 0.21% of Copart worth $104,276,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Optimum Investment Advisors boosted its stake in shares of Copart by 141.5% during the 3rd 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 third quarter valued at approximately $29,000. Crewe Advisors LLC increased its position in shares of Copart by 98.6% in the second quarter. Crewe Advisors LLC now owns 564 shares of the business services provider's stock valued at $31,000 after buying an additional 280 shares in the last quarter. Meeder Asset Management Inc. raised its stake in shares of Copart by 283.3% during the 2nd quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider's stock worth $31,000 after buying an additional 425 shares during the period. Finally, Versant Capital Management Inc raised its stake in shares of Copart by 477.7% during the 2nd 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 currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Robert W. Baird cut their price target 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 Stock Up 0.6 %

Shares of Copart stock traded up $0.33 during mid-day trading on Tuesday, reaching $52.18. 2,256,108 shares of the stock traded hands, compared to its average volume of 4,449,585. The stock has a market capitalization of $50.27 billion, a PE ratio of 36.51 and a beta of 1.27. The business has a 50-day moving average of $52.30 and a 200 day moving average of $53.07. Copart, Inc. has a fifty-two week low of $42.41 and a fifty-two week high of $58.58.

Copart (NASDAQ:CPRT - Get Free Report) last posted its quarterly earnings data on Wednesday, September 4th. The business services provider reported $0.33 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 company posted $0.34 earnings per share. The firm's revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities research analysts expect that Copart, Inc. will post 1.54 EPS 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.