Ameritas Investment Partners Inc. Has $2.16 Million Stock Position in Copart, Inc. (NASDAQ:CPRT)

Ameritas Investment Partners Inc. lowered its position in shares of Copart, Inc. (NASDAQ:CPRT) by 0.7% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,303 shares of the business services provider’s stock after selling 258 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in Copart were worth $2,161,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Alley Investment Management Company LLC bought a new position in shares of Copart in the first quarter worth $221,000. Covestor Ltd increased its position in shares of Copart by 10.5% in the first quarter. Covestor Ltd now owns 4,204 shares of the business services provider’s stock worth $243,000 after purchasing an additional 398 shares during the period. Jacobi Capital Management LLC increased its position in shares of Copart by 9.4% in the first quarter. Jacobi Capital Management LLC now owns 4,782 shares of the business services provider’s stock worth $277,000 after purchasing an additional 410 shares during the period. Edgestream Partners L.P. bought a new position in shares of Copart in the first quarter worth $644,000. Finally, Westfield Capital Management Co. LP grew its position in Copart by 19.1% in the first quarter. Westfield Capital Management Co. LP now owns 2,167,032 shares of the business services provider’s stock valued at $125,514,000 after acquiring an additional 346,782 shares during the last quarter. Institutional investors own 85.78% of the company’s stock.

Copart Stock Performance

Shares of NASDAQ:CPRT traded down $0.21 during midday trading on Tuesday, hitting $52.32. 3,403,831 shares of the stock were exchanged, compared to its average volume of 4,492,893. The stock has a market capitalization of $50.35 billion, a price-to-earnings ratio of 36.89 and a beta of 1.28. The business’s 50-day moving average price is $53.92 and its 200 day moving average price is $53.24. 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 results on Thursday, May 16th. The business services provider reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.01. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Copart had a return on equity of 20.80% and a net margin of 33.33%. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.36 earnings per share. As a group, sell-side analysts expect that Copart, Inc. will post 1.43 EPS for the current year.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. lifted their target price on Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $51.00.

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.