Copart, Inc. (NASDAQ:CPRT) Holdings Decreased by MetLife Investment Management LLC

MetLife Investment Management LLC cut its position in shares of Copart, Inc. (NASDAQ:CPRT) by 2.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 264,653 shares of the business services provider’s stock after selling 6,365 shares during the quarter. MetLife Investment Management LLC’s holdings in Copart were worth $13,868,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its position in shares of Copart by 2.5% in the 3rd quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider’s stock worth $2,037,130,000 after buying an additional 941,858 shares during the last quarter. Edgewood Management LLC lifted its holdings in Copart by 0.6% in the third quarter. Edgewood Management LLC now owns 20,555,713 shares of the business services provider’s stock worth $1,077,119,000 after acquiring an additional 125,220 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Copart by 8.1% in the second quarter. Bank of New York Mellon Corp now owns 16,008,444 shares of the business services provider’s stock valued at $867,017,000 after acquiring an additional 1,199,781 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Copart by 0.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,898,956 shares of the business services provider’s stock valued at $427,807,000 after purchasing an additional 30,454 shares during the last quarter. Finally, Legal & General Group Plc raised its position in shares of Copart by 9.4% during the 2nd quarter. Legal & General Group Plc now owns 6,943,042 shares of the business services provider’s stock worth $376,035,000 after purchasing an additional 598,566 shares during the period. Institutional investors own 85.78% of the company’s stock.

Analysts Set New Price Targets

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

Copart Price Performance

Shares of CPRT stock opened at $63.51 on Thursday. Copart, Inc. has a 12-month low of $46.21 and a 12-month high of $64.38. The firm has a market capitalization of $61.18 billion, a price-to-earnings ratio of 44.73 and a beta of 1.27. The business has a 50 day simple moving average of $54.33 and a 200 day simple moving average of $53.30.

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 the consensus estimate of $0.36 by ($0.03). Copart had a return on equity of 18.96% and a net margin of 31.92%. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the company posted $0.34 EPS. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities analysts anticipate that Copart, Inc. will post 1.57 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.