Covestor Ltd Purchases 209 Shares of Copart, Inc. (NASDAQ:CPRT)

Covestor Ltd lifted its position in shares of Copart, Inc. (NASDAQ:CPRT) by 5.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,299 shares of the business services provider’s stock after purchasing an additional 209 shares during the period. Covestor Ltd’s holdings in Copart were worth $225,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Assenagon Asset Management S.A. increased its position in Copart by 462.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 3,668,696 shares of the business services provider’s stock valued at $192,240,000 after acquiring an additional 3,016,795 shares during the period. Manning & Napier Advisors LLC acquired a new stake in Copart in the second quarter valued at $109,382,000. Price T Rowe Associates Inc. MD raised its position in Copart by 28.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,861,282 shares of the business services provider’s stock worth $397,406,000 after purchasing an additional 1,500,466 shares during the last quarter. TD Asset Management Inc raised its position in Copart by 43.3% during the 1st quarter. TD Asset Management Inc now owns 4,862,147 shares of the business services provider’s stock worth $281,616,000 after purchasing an additional 1,469,292 shares during the last quarter. Finally, Kimelman & Baird LLC bought a new stake in shares of Copart in the 2nd quarter valued at about $70,307,000. 85.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird lowered 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.

Copart Stock Up 0.6 %

CPRT stock opened at $56.12 on Friday. The company’s fifty day simple moving average is $52.44 and its 200 day simple moving average is $53.04. Copart, Inc. has a 12-month low of $46.21 and a 12-month high of $58.58. The firm has a market cap of $54.06 billion, a price-to-earnings ratio of 40.37 and a beta of 1.27.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Wednesday, September 4th. The business services provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. Copart had a net margin of 32.17% and a return on equity of 19.55%. The business’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.34 EPS. Research analysts expect that Copart, Inc. will post 1.54 earnings per share for the current year.

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 on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.