Connor Clark & Lunn Investment Management Ltd. Purchases New Shares in Copart, Inc. (NASDAQ:CPRT)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in Copart, Inc. (NASDAQ:CPRT - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 290,000 shares of the business services provider's stock, valued at approximately $15,196,000.

A number of other large investors have also recently made changes to their positions in CPRT. Edgestream Partners L.P. bought a new position in Copart during the first quarter valued at $644,000. Pitcairn Co. raised its position in Copart by 24.5% in the 1st quarter. Pitcairn Co. now owns 10,889 shares of the business services provider's stock worth $631,000 after purchasing an additional 2,143 shares during the period. EntryPoint Capital LLC bought a new stake in Copart in the first quarter worth about $144,000. CreativeOne Wealth LLC purchased a new position in shares of Copart during the first quarter valued at approximately $344,000. Finally, EP Wealth Advisors LLC grew its stake in shares of Copart by 18.4% during the first quarter. EP Wealth Advisors LLC now owns 10,402 shares of the business services provider's stock valued at $602,000 after buying an additional 1,614 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors.

Copart Price Performance

Copart stock traded up $1.55 during midday trading on Thursday, reaching $56.97. The company's stock had a trading volume of 7,115,650 shares, compared to its average volume of 4,428,253. Copart, Inc. has a 52-week low of $46.21 and a 52-week high of $58.58. The stock has a market capitalization of $54.88 billion, a P/E ratio of 40.98 and a beta of 1.27. The stock's 50-day simple moving average is $53.54 and its 200-day simple moving average is $53.16.

Copart (NASDAQ:CPRT - Get Free Report) last released its earnings results on Wednesday, September 4th. The business services provider reported $0.33 EPS 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 firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the firm earned $0.34 EPS. The company's revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, equities research analysts expect that Copart, Inc. will post 1.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on CPRT. Robert W. Baird dropped their price objective on Copart from $58.00 to $56.00 and set an "outperform" rating for the company in a report on Thursday, September 5th. JPMorgan Chase & Co. boosted their target price on shares of Copart from $55.00 to $60.00 and gave the company a "neutral" rating in a research note on Tuesday.

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.