Bank of Montreal Can Decreases Stake in Copart, Inc. (NASDAQ:CPRT)

Bank of Montreal Can decreased its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 2.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,394,872 shares of the business services provider’s stock after selling 28,339 shares during the quarter. Bank of Montreal Can owned about 0.14% of Copart worth $72,617,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Bowie Capital Management LLC raised its holdings in Copart by 14.0% in the 3rd quarter. Bowie Capital Management LLC now owns 1,810,210 shares of the business services provider’s stock valued at $94,855,000 after acquiring an additional 222,667 shares during the last quarter. DRW Securities LLC purchased a new stake in shares of Copart in the third quarter valued at approximately $448,000. Harvest Fund Management Co. Ltd increased its holdings in shares of Copart by 12.5% in the third quarter. Harvest Fund Management Co. Ltd now owns 44,339 shares of the business services provider’s stock valued at $2,323,000 after purchasing an additional 4,926 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in Copart by 9.0% during the third quarter. Daiwa Securities Group Inc. now owns 229,882 shares of the business services provider’s stock worth $12,046,000 after buying an additional 18,923 shares in the last quarter. Finally, Centaurus Financial Inc. boosted its stake in Copart by 20.7% during the third quarter. Centaurus Financial Inc. now owns 22,117 shares of the business services provider’s stock worth $1,159,000 after buying an additional 3,800 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CPRT. Robert W. Baird cut their target price on Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. JPMorgan Chase & Co. lifted their target price on shares of Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th.

Copart Trading Up 0.1 %

NASDAQ CPRT opened at $63.80 on Wednesday. The stock has a fifty day simple moving average of $54.07 and a 200-day simple moving average of $53.24. The stock has a market cap of $61.46 billion, a PE ratio of 44.93 and a beta of 1.27. Copart, Inc. has a twelve month low of $46.21 and a twelve month high of $64.19.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share (EPS) 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 company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period last year, the firm posted $0.34 earnings per share. Copart’s revenue was up 7.2% on a year-over-year basis. Research analysts predict 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.