Litman Gregory Wealth Management LLC Has $8.91 Million Holdings in Copart, Inc. (NASDAQ:CPRT)

Litman Gregory Wealth Management LLC increased its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 4.2% in the third quarter, Holdings Channel reports. The firm owned 170,011 shares of the business services provider’s stock after buying an additional 6,775 shares during the quarter. Litman Gregory Wealth Management LLC’s holdings in Copart were worth $8,909,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Optimum Investment Advisors lifted its holdings in Copart by 141.5% during the third quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock worth $27,000 after acquiring an additional 300 shares in the last quarter. Eastern Bank bought a new position in Copart during the third quarter worth about $29,000. Pinnacle Bancorp Inc. lifted its holdings in Copart by 79.6% during the first quarter. Pinnacle Bancorp Inc. now owns 528 shares of the business services provider’s stock worth $31,000 after acquiring an additional 234 shares in the last quarter. Crewe Advisors LLC lifted its holdings in Copart by 98.6% during the second quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock worth $31,000 after acquiring an additional 280 shares in the last quarter. Finally, Meeder Asset Management Inc. lifted its holdings in Copart by 283.3% during the second quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock worth $31,000 after acquiring an additional 425 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Robert W. Baird reduced their target price 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 Down 0.4 %

Shares of Copart stock traded down $0.19 during trading on Wednesday, reaching $51.88. The stock had a trading volume of 329,498 shares, compared to its average volume of 4,476,747. Copart, Inc. has a 52 week low of $42.41 and a 52 week high of $58.58. The company has a market capitalization of $49.92 billion, a price-to-earnings ratio of 36.67 and a beta of 1.27. The stock has a fifty day moving average price of $52.28 and a two-hundred day moving average price of $53.20.

Copart (NASDAQ:CPRT) last released its earnings results 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 company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the company posted $0.34 EPS. The business’s revenue was up 7.2% on a year-over-year basis. On average, equities analysts forecast that Copart, Inc. will post 1.54 EPS 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.