Copart, Inc. (NASDAQ:CPRT) Shares Purchased by AIA Group Ltd

AIA Group Ltd lifted its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 18.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 106,643 shares of the business services provider's stock after purchasing an additional 16,548 shares during the period. AIA Group Ltd's holdings in Copart were worth $5,588,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bensler LLC raised its stake in shares of Copart by 6.2% in the third quarter. Bensler LLC now owns 199,878 shares of the business services provider's stock worth $10,474,000 after buying an additional 11,692 shares during the period. Portside Wealth Group LLC increased its position in shares of Copart by 9.7% during the third quarter. Portside Wealth Group LLC now owns 14,884 shares of the business services provider's stock worth $780,000 after acquiring an additional 1,322 shares during the period. Western Pacific Wealth Management LP lifted its stake in Copart by 16.8% in the third quarter. Western Pacific Wealth Management LP now owns 2,135 shares of the business services provider's stock worth $112,000 after acquiring an additional 307 shares during the period. Principal Financial Group Inc. raised its stake in Copart by 2.5% in the third quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider's stock worth $2,037,130,000 after buying an additional 941,858 shares in the last quarter. Finally, Advisor Resource Council bought a new stake in Copart during the third quarter valued at about $652,000. Hedge funds and other institutional investors own 85.78% of the company's stock.

Analyst Ratings Changes

Separately, Robert W. Baird lowered their price target 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 Price Performance

Shares of NASDAQ:CPRT traded up $0.35 during midday trading on Friday, reaching $56.12. 2,922,132 shares of the company's stock were exchanged, compared to its average volume of 4,423,466. Copart, Inc. has a fifty-two week low of $46.21 and a fifty-two week high of $58.58. The firm's 50 day simple moving average is $52.38 and its two-hundred day simple moving average is $53.02. The stock has a market cap of $54.06 billion, a price-to-earnings ratio of 40.12 and a beta of 1.27.

Copart (NASDAQ:CPRT - Get Free Report) last posted its earnings results on Wednesday, September 4th. The business services provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). Copart had a net margin of 32.17% and a return on equity of 19.55%. The business had revenue of $1.07 billion during the quarter, compared to analysts' expectations of $1.07 billion. During the same period last year, the company earned $0.34 EPS. The business's quarterly revenue was up 7.2% compared to the same quarter last year. Equities research analysts predict that Copart, Inc. will post 1.54 earnings per share for the current fiscal 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.