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

TimesSquare Capital Management LLC reduced its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 28.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 437,261 shares of the business services provider's stock after selling 175,745 shares during the quarter. TimesSquare Capital Management LLC's holdings in Copart were worth $22,912,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Silvercrest Asset Management Group LLC grew 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 buying an additional 10,959 shares in the last quarter. Motco grew its holdings in shares of Copart by 6,085.7% during the 1st quarter. Motco now owns 10,392 shares of the business services provider's stock worth $602,000 after purchasing an additional 10,224 shares during the period. Twin Tree Management LP purchased a new position in shares of Copart during the 1st quarter worth $3,877,000. Manning & Napier Advisors LLC purchased a new position in shares of Copart during 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. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Trading Up 1.1 %

CPRT traded up $0.63 during mid-day trading on Monday, hitting $56.75. 2,248,262 shares of the stock were exchanged, compared to its average volume of 4,415,514. The firm's fifty day moving average is $52.52 and its two-hundred day moving average is $53.03. Copart, Inc. has a 1-year low of $46.21 and a 1-year high of $58.58. The company has a market cap of $54.67 billion, a PE ratio of 40.83 and a beta of 1.27.

Copart (NASDAQ:CPRT - Get Free Report) last posted its earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). Copart had a return on equity of 19.55% and a net margin of 32.17%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the company posted $0.34 EPS. Copart's revenue was up 7.2% on a year-over-year basis. As a group, research analysts anticipate that Copart, Inc. will post 1.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird lowered their price target on Copart from $58.00 to $56.00 and set an "outperform" rating for the company 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.