Westfield Capital Management Co. LP Cuts Position in Copart, Inc. (NASDAQ:CPRT)

Westfield Capital Management Co. LP decreased its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 34.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,043,377 shares of the business services provider’s stock after selling 554,425 shares during the quarter. Westfield Capital Management Co. LP owned about 0.11% of Copart worth $54,673,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of CPRT. Jensen Investment Management Inc. increased its position in shares of Copart by 2,466.0% during the third quarter. Jensen Investment Management Inc. now owns 3,536,233 shares of the business services provider’s stock worth $185,299,000 after acquiring an additional 3,398,423 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Copart by 462.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 3,668,696 shares of the business services provider’s stock valued at $192,240,000 after buying an additional 3,016,795 shares during the period. Manning & Napier Advisors LLC bought a new position in Copart during the 2nd quarter worth $109,382,000. Comgest Global Investors S.A.S. lifted its position in Copart by 706.6% in the 3rd quarter. Comgest Global Investors S.A.S. now owns 1,586,886 shares of the business services provider’s stock valued at $83,153,000 after purchasing an additional 1,390,146 shares during the last quarter. Finally, Kimelman & Baird LLC bought a new position in Copart in the 2nd quarter worth approximately $70,307,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on CPRT. JPMorgan Chase & Co. boosted their target price on Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Robert W. Baird dropped their price target on Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th.

Copart Trading Up 10.2 %

CPRT opened at $62.70 on Monday. Copart, Inc. has a 1 year low of $46.21 and a 1 year high of $62.90. The stock has a fifty day moving average price of $53.79 and a 200 day moving average price of $53.18. The stock has a market cap of $60.40 billion, a price-to-earnings ratio of 44.15 and a beta of 1.27.

Copart (NASDAQ:CPRT) last posted its earnings results 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 return on equity of 19.45% and a net margin of 31.92%. The business 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 earned $0.34 earnings per share. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Copart, Inc. will post 1.55 earnings per share for the current fiscal 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.