Quantum Capital Management LLC NJ Reduces Stock Position in Copart, Inc. $CPRT

Quantum Capital Management LLC NJ cut its stake in Copart, Inc. (NASDAQ:CPRT – Free Report) by 63.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 523,715 shares of the business services provider’s stock after selling 894,975 shares during the quarter. Copart accounts for about 2.2% of Quantum Capital Management LLC NJ’s investment portfolio, making the stock its 15th largest holding. Quantum Capital Management LLC NJ’s holdings in Copart were worth $17,387,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC grew its position in Copart by 92.1% in the 4th quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock worth $816,000 after purchasing an additional 6,817 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of Copart by 365.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock valued at $63,000 after buying an additional 878 shares during the period. Jump Financial LLC purchased a new position in shares of Copart in the 2nd quarter worth $2,677,000. Sei Investments Co. boosted its stake in shares of Copart by 110.0% in the 2nd quarter. Sei Investments Co. now owns 900,330 shares of the business services provider’s stock worth $44,179,000 after buying an additional 471,571 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its holdings in shares of Copart by 3.5% in the second quarter. Treasurer of the State of North Carolina now owns 413,083 shares of the business services provider’s stock worth $20,270,000 after acquiring an additional 13,860 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

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Copart Price Performance

Shares of CPRT stock opened at $27.17 on Thursday. The company has a market cap of $25.15 billion, a price-to-earnings ratio of 16.88 and a beta of 1.02. Copart, Inc. has a 1 year low of $26.85 and a 1 year high of $50.11. The firm has a fifty day moving average price of $30.37 and a 200-day moving average price of $34.19.

Copart (NASDAQ:CPRT – Get Free Report) last announced its earnings results on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Copart had a return on equity of 16.63% and a net margin of 33.48%.Copart’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the firm earned $0.42 EPS. Equities research analysts expect that Copart, Inc. will post 1.58 EPS for the current year.

Analysts Set New Price Targets

CPRT has been the subject of a number of research reports. Jefferies Financial Group set a $45.00 price objective on Copart in a research report on Friday, May 22nd. Freedom Capital raised Copart to a “strong-buy” rating in a research report on Friday, June 26th. Barclays set a $26.00 price target on Copart and gave the company an “underweight” rating in a research note on Tuesday. Weiss Ratings lowered shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. Finally, Zacks Research upgraded shares of Copart from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Three investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $43.50.

View Our Latest Stock Analysis on CPRT

About Copart

(Free Report)

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.

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