Sentry Investment Management LLC Lowers Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Sentry Investment Management LLC lessened its position in Copart, Inc. (NASDAQ:CPRT) by 17.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,786 shares of the business services provider’s stock after selling 775 shares during the quarter. Sentry Investment Management LLC’s holdings in Copart were worth $205,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Cadence Bank lifted its position in shares of Copart by 0.6% during the first quarter. Cadence Bank now owns 31,371 shares of the business services provider’s stock worth $1,817,000 after purchasing an additional 187 shares in the last quarter. WASHINGTON TRUST Co boosted its position in Copart by 0.3% in the 2nd quarter. WASHINGTON TRUST Co now owns 61,852 shares of the business services provider’s stock valued at $3,350,000 after buying an additional 200 shares during the period. Spinnaker Trust boosted its position in Copart by 4.0% in the 2nd quarter. Spinnaker Trust now owns 5,222 shares of the business services provider’s stock valued at $283,000 after buying an additional 200 shares during the period. Values First Advisors Inc. grew its stake in shares of Copart by 2.9% in the second quarter. Values First Advisors Inc. now owns 7,098 shares of the business services provider’s stock worth $384,000 after acquiring an additional 201 shares in the last quarter. Finally, Burney Co. increased its position in shares of Copart by 1.4% during the second quarter. Burney Co. now owns 15,001 shares of the business services provider’s stock worth $812,000 after acquiring an additional 206 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird reduced their price target on Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th.

Copart Trading Down 0.3 %

Copart stock opened at $49.38 on Thursday. The stock has a market cap of $47.52 billion, a P/E ratio of 34.77 and a beta of 1.27. The company has a fifty day simple moving average of $52.02 and a 200-day simple moving average of $53.84. Copart, Inc. has a 12-month low of $42.41 and a 12-month high of $58.58.

Copart (NASDAQ:CPRT) last released its quarterly earnings data 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 business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the company posted $0.34 earnings per share. The company’s revenue was up 7.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Copart, Inc. will post 1.54 earnings per share for the current fiscal year.

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.