Trellus Management Company LLC Invests $747,000 in Copart, Inc. (CPRT) Stock

Trellus Management Company LLC purchased a new position in Copart, Inc. (NASDAQ:CPRT) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 14,500 shares of the business services provider’s stock, valued at approximately $747,000. Copart accounts for 1.1% of Trellus Management Company LLC’s holdings, making the stock its 29th largest position.

A number of other hedge funds and other institutional investors have also modified their holdings of CPRT. FMR LLC grew its holdings in shares of Copart by 27.3% during the 2nd quarter. FMR LLC now owns 6,625,549 shares of the business services provider’s stock worth $374,741,000 after purchasing an additional 1,420,739 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Copart during the 2nd quarter worth approximately $36,885,000. State Treasurer State of Michigan grew its holdings in shares of Copart by 1,018.6% during the 3rd quarter. State Treasurer State of Michigan now owns 668,900 shares of the business services provider’s stock worth $34,468,000 after purchasing an additional 609,100 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Copart by 35.1% during the 2nd quarter. Northern Trust Corp now owns 2,119,824 shares of the business services provider’s stock worth $119,897,000 after purchasing an additional 551,294 shares in the last quarter. Finally, Paloma Partners Management Co acquired a new stake in shares of Copart during the 2nd quarter worth approximately $21,676,000. 82.52% of the stock is currently owned by institutional investors.

Shares of CPRT stock opened at $50.68 on Thursday. The company has a current ratio of 2.56, a quick ratio of 2.50 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $11.70 billion, a P/E ratio of 29.29, a P/E/G ratio of 1.02 and a beta of 1.01. Copart, Inc. has a one year low of $35.32 and a one year high of $67.08.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Wednesday, September 19th. The business services provider reported $0.42 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.06). The company had revenue of $449.20 million during the quarter, compared to analyst estimates of $448.64 million. Copart had a net margin of 23.14% and a return on equity of 29.92%. Copart’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.35 EPS. Research analysts expect that Copart, Inc. will post 2.13 earnings per share for the current fiscal year.

Several brokerages have recently weighed in on CPRT. BidaskClub raised Copart from a “hold” rating to a “buy” rating in a report on Saturday, October 13th. ValuEngine lowered Copart from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. Zacks Investment Research lowered Copart from a “buy” rating to a “hold” rating in a report on Friday, September 21st. JPMorgan Chase & Co. lowered Copart from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $48.00 to $47.00 in a report on Friday, September 21st. Finally, Gabelli raised Copart from a “hold” rating to a “buy” rating in a research note on Thursday, September 20th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. Copart currently has a consensus rating of “Hold” and an average price target of $55.14.

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About Copart

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 to vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as for individual owners.

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Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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