Penserra Capital Management LLC Cuts Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Penserra Capital Management LLC reduced its stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 17.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 65,833 shares of the business services provider's stock after selling 14,193 shares during the period. Penserra Capital Management LLC's holdings in Copart were worth $3,449,000 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. Principal Financial Group Inc. raised its position in shares of Copart by 2.5% in the 3rd quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider's stock worth $2,037,130,000 after acquiring an additional 941,858 shares in the last quarter. Edgewood Management LLC increased its holdings in Copart by 0.6% in the third quarter. Edgewood Management LLC now owns 20,555,713 shares of the business services provider's stock worth $1,077,119,000 after purchasing an additional 125,220 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Copart by 8.1% in the second 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 period. Massachusetts Financial Services Co. MA boosted its holdings in shares of 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 buying an additional 30,454 shares in the last quarter. Finally, Legal & General Group Plc grew its position in shares of Copart by 9.4% during the 2nd quarter. Legal & General Group Plc now owns 6,943,042 shares of the business services provider's stock worth $376,035,000 after buying an additional 598,566 shares during the period. 85.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Robert W. Baird dropped their target price on shares of Copart from $58.00 to $56.00 and set an "outperform" rating on the stock in a research report on Thursday, September 5th. JPMorgan Chase & Co. upped their price objective on shares of Copart from $55.00 to $60.00 and gave the company a "neutral" rating in a report on Tuesday, November 19th.

Copart Trading Up 0.1 %

Shares of CPRT traded up $0.05 during trading hours on Tuesday, reaching $63.80. The stock had a trading volume of 3,896,831 shares, compared to its average volume of 4,464,108. The company has a market capitalization of $61.46 billion, a price-to-earnings ratio of 44.93 and a beta of 1.27. The firm has a 50-day simple moving average of $54.07 and a 200 day simple moving average of $53.24. Copart, Inc. has a 12 month low of $46.21 and a 12 month high of $64.19.

Copart (NASDAQ:CPRT - Get Free Report) last released its quarterly earnings data on Wednesday, September 4th. The business services provider reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). Copart had a net margin of 31.92% and a return on equity of 18.96%. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the business posted $0.34 earnings per share. The firm's quarterly revenue was up 7.2% on a year-over-year basis. On average, equities analysts forecast that Copart, Inc. will post 1.55 EPS for the current year.

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.