Copart, Inc. (NASDAQ:CPRT) Shares Bought by Comgest Global Investors S.A.S.

Comgest Global Investors S.A.S. grew its holdings in Copart, Inc. (NASDAQ:CPRT) by 706.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,586,886 shares of the business services provider’s stock after purchasing an additional 1,390,146 shares during the period. Copart makes up 1.2% of Comgest Global Investors S.A.S.’s investment portfolio, making the stock its 19th largest position. Comgest Global Investors S.A.S. owned 0.16% of Copart worth $83,153,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Silvercrest Asset Management Group LLC increased its holdings in shares of Copart by 40.6% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 37,962 shares of the business services provider’s stock valued at $2,199,000 after acquiring an additional 10,959 shares during the last quarter. Twin Tree Management LP purchased a new position in Copart in the 1st quarter valued at approximately $3,877,000. Manning & Napier Advisors LLC purchased a new position in Copart during the second quarter worth $109,382,000. Edgestream Partners L.P. purchased a new position in Copart during the first quarter worth $644,000. Finally, Comerica Bank boosted its holdings in shares of Copart by 5.9% during the first quarter. Comerica Bank now owns 336,206 shares of the business services provider’s stock worth $19,473,000 after purchasing an additional 18,605 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Stock Performance

Shares of NASDAQ:CPRT traded down $0.67 during trading hours on Friday, hitting $56.67. The stock had a trading volume of 3,041,790 shares, compared to its average volume of 4,393,464. The stock’s fifty day simple moving average is $52.99 and its 200 day simple moving average is $53.11. Copart, Inc. has a 1-year low of $46.21 and a 1-year high of $58.58. The firm has a market capitalization of $54.59 billion, a price-to-earnings ratio of 40.77 and a beta of 1.27.

Copart (NASDAQ:CPRT) last issued its earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). Copart had a return on equity of 19.55% and a net margin of 32.17%. The business 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 business posted $0.34 earnings per share. The company’s quarterly revenue was up 7.2% on a year-over-year basis. As a group, research analysts anticipate that Copart, Inc. will post 1.54 EPS for the current year.

Analysts Set New Price Targets

Separately, Robert W. Baird reduced their price objective on Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th.

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.