Mutual of America Capital Management LLC Sells 1,140 Shares of Copart, Inc. $CPRT

Mutual of America Capital Management LLC trimmed its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 1.1% in the second quarter, according to its most recent filing with the SEC. The firm owned 100,843 shares of the business services provider’s stock after selling 1,140 shares during the period. Mutual of America Capital Management LLC’s holdings in Copart were worth $4,948,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Quotient Wealth Partners LLC raised its position in Copart by 18.5% in the second quarter. Quotient Wealth Partners LLC now owns 6,820 shares of the business services provider’s stock worth $335,000 after purchasing an additional 1,067 shares in the last quarter. Koshinski Asset Management Inc. grew its stake in shares of Copart by 12.8% in the 2nd quarter. Koshinski Asset Management Inc. now owns 5,562 shares of the business services provider’s stock valued at $273,000 after purchasing an additional 629 shares during the period. Chevy Chase Trust Holdings LLC raised its holdings in shares of Copart by 1.2% in the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 470,641 shares of the business services provider’s stock worth $23,094,000 after buying an additional 5,378 shares in the last quarter. Nordea Investment Management AB lifted its position in Copart by 3.5% during the 2nd quarter. Nordea Investment Management AB now owns 753,973 shares of the business services provider’s stock worth $36,153,000 after buying an additional 25,564 shares in the last quarter. Finally, Rockbridge Capital Management LLC grew its holdings in Copart by 3.1% during the 2nd quarter. Rockbridge Capital Management LLC now owns 247,819 shares of the business services provider’s stock worth $12,160,000 after acquiring an additional 7,548 shares during the last quarter. Institutional investors own 85.78% of the company’s stock.

Copart Price Performance

Shares of NASDAQ:CPRT opened at $44.93 on Thursday. The firm’s 50 day simple moving average is $46.48 and its 200 day simple moving average is $50.66. Copart, Inc. has a fifty-two week low of $43.32 and a fifty-two week high of $64.38. The company has a market capitalization of $43.48 billion, a price-to-earnings ratio of 28.08 and a beta of 1.03.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, September 4th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Copart had a net margin of 33.41% and a return on equity of 18.17%. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.33 earnings per share. Equities research analysts expect that Copart, Inc. will post 1.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

CPRT has been the subject of a number of research analyst reports. Hsbc Global Res raised shares of Copart from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Copart in a research note on Wednesday, October 8th. Robert W. Baird lowered their price objective on Copart from $64.00 to $55.00 and set an “outperform” rating for the company in a research report on Thursday, July 17th. Stephens cut their target price on shares of Copart from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Friday, September 5th. Finally, HSBC set a $62.00 price target on shares of Copart and gave the stock a “buy” rating in a research report on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $54.50.

Insiders Place Their Bets

In related news, Director Thomas N. Tryforos sold 228,840 shares of the company’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $47.54, for a total value of $10,879,053.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey Liaw sold 24,283 shares of Copart stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $44.79, for a total value of $1,087,635.57. Following the transaction, the chief executive officer owned 31,332 shares in the company, valued at approximately $1,403,360.28. This represents a 43.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.68% of the stock is owned by corporate insiders.

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.