Janney Montgomery Scott LLC Sells 34,310 Shares of Copart, Inc. (NASDAQ:CPRT)

Janney Montgomery Scott LLC cut its holdings in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 8.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 363,313 shares of the business services provider's stock after selling 34,310 shares during the quarter. Janney Montgomery Scott LLC's holdings in Copart were worth $20,560,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CPRT. Brown Miller Wealth Management LLC lifted its stake in Copart by 8.2% in the first quarter. Brown Miller Wealth Management LLC now owns 5,194 shares of the business services provider's stock worth $294,000 after purchasing an additional 394 shares during the last quarter. Brighton Jones LLC lifted its stake in shares of Copart by 3.6% in the 1st quarter. Brighton Jones LLC now owns 14,729 shares of the business services provider's stock valued at $834,000 after acquiring an additional 514 shares during the last quarter. McBroom & Associates LLC lifted its stake in shares of Copart by 1.3% in the 1st quarter. McBroom & Associates LLC now owns 157,106 shares of the business services provider's stock valued at $8,891,000 after acquiring an additional 2,061 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Copart by 10.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 96,595 shares of the business services provider's stock valued at $5,466,000 after acquiring an additional 8,982 shares during the period. Finally, Tritonpoint Wealth LLC grew its position in Copart by 1.6% during the 1st quarter. Tritonpoint Wealth LLC now owns 18,541 shares of the business services provider's stock worth $1,049,000 after acquiring an additional 291 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors.

Copart Stock Down 0.2%

Shares of Copart stock traded down $0.12 during trading on Thursday, reaching $47.88. 6,819,599 shares of the stock were exchanged, compared to its average volume of 4,835,124. The firm has a market cap of $46.30 billion, a price-to-earnings ratio of 31.50 and a beta of 1.10. Copart, Inc. has a 1 year low of $47.70 and a 1 year high of $64.38. The stock's fifty day moving average is $57.03 and its 200 day moving average is $57.19.

Copart (NASDAQ:CPRT - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The business services provider reported $0.42 EPS for the quarter, meeting analysts' consensus estimates of $0.42. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.23 billion. Copart had a return on equity of 18.20% and a net margin of 32.21%. Copart's quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.39 EPS. Equities analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current year.

Insider Activity

In related news, Director Steven D. Cohan sold 94,997 shares of Copart stock in a transaction on Monday, April 14th. The shares were sold at an average price of $60.01, for a total value of $5,700,769.97. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 9.68% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CPRT. JPMorgan Chase & Co. lowered their price objective on Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Argus lowered shares of Copart from a "buy" rating to a "hold" rating in a report on Friday, March 14th.

Copart Company 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.