Nicolet Advisory Services LLC Reduces Stake in Copart, Inc. (NASDAQ:CPRT)

Nicolet Advisory Services LLC cut its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 7.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 19,303 shares of the business services provider’s stock after selling 1,666 shares during the quarter. Nicolet Advisory Services LLC’s holdings in Copart were worth $1,007,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CPRT. Principal Financial Group Inc. increased its position in Copart by 2.5% during the 3rd quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider’s stock valued at $2,037,130,000 after purchasing an additional 941,858 shares during the period. Edgewood Management LLC boosted its stake in shares of Copart by 0.6% during the 3rd quarter. Edgewood Management LLC now owns 20,555,713 shares of the business services provider’s stock valued at $1,077,119,000 after purchasing an additional 125,220 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Copart by 8.1% during 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 raised its stake in Copart by 0.4% in the second 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 lifted its holdings 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 worth $376,035,000 after buying an additional 598,566 shares during the period. Institutional investors own 85.78% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on CPRT shares. JPMorgan Chase & Co. increased their target price on Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday. Robert W. Baird decreased their price objective on Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a report on Thursday, September 5th.

Copart Trading Up 10.2 %

NASDAQ CPRT opened at $62.70 on Friday. The stock’s fifty day moving average price is $53.79 and its 200-day moving average price is $53.21. The stock has a market cap of $60.40 billion, a P/E ratio of 44.15 and a beta of 1.27. Copart, Inc. has a 12 month low of $46.21 and a 12 month high of $62.90.

Copart (NASDAQ:CPRT) 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). The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.07 billion. Copart had a net margin of 31.92% and a return on equity of 19.45%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.34 earnings per share. As a group, analysts forecast that Copart, Inc. will post 1.55 earnings per share 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.