Comgest Global Investors S.A.S. Has $83.15 Million Stake in Copart, Inc. (NASDAQ:CPRT)

Comgest Global Investors S.A.S. increased its stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 706.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,586,886 shares of the business services provider's stock after purchasing an additional 1,390,146 shares during the quarter. Copart comprises about 1.2% of Comgest Global Investors S.A.S.'s portfolio, making the stock its 19th biggest position. Comgest Global Investors S.A.S. owned 0.16% of Copart worth $83,153,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Cadence Bank boosted its stake in Copart by 0.6% in the first quarter. Cadence Bank now owns 31,371 shares of the business services provider's stock valued at $1,817,000 after acquiring an additional 187 shares during the last quarter. WASHINGTON TRUST Co boosted its position in Copart by 0.3% during the second quarter. WASHINGTON TRUST Co now owns 61,852 shares of the business services provider's stock valued at $3,350,000 after purchasing an additional 200 shares during the last quarter. Spinnaker Trust boosted its position in Copart by 4.0% during the second quarter. Spinnaker Trust now owns 5,222 shares of the business services provider's stock valued at $283,000 after purchasing an additional 200 shares during the last quarter. Values First Advisors Inc. lifted its position in shares of Copart by 2.9% in the second quarter. Values First Advisors Inc. now owns 7,098 shares of the business services provider's stock valued at $384,000 after buying an additional 201 shares during the last quarter. Finally, Duncan Williams Asset Management LLC lifted its position in shares of Copart by 1.3% in the third quarter. Duncan Williams Asset Management LLC now owns 15,437 shares of the business services provider's stock valued at $809,000 after buying an additional 203 shares during the last quarter. 85.78% of the stock is owned by institutional investors.

Copart Price Performance

CPRT stock traded down $0.67 during midday trading on Friday, reaching $56.67. 3,041,790 shares of the stock were exchanged, compared to its average volume of 4,393,464. The stock has a market capitalization of $54.59 billion, a PE ratio of 40.77 and a beta of 1.27. Copart, Inc. has a 52 week low of $46.21 and a 52 week high of $58.58. The company has a fifty day moving average price of $52.99 and a 200 day moving average price of $53.11.

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

Wall Street Analysts Forecast Growth

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

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.