Assetmark Inc. Has $15.27 Million Holdings in Copart, Inc. (NASDAQ:CPRT)

Assetmark Inc. lifted its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 39.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 291,440 shares of the business services provider's stock after purchasing an additional 82,735 shares during the quarter. Assetmark Inc.'s holdings in Copart were worth $15,271,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Principal Financial Group Inc. grew its holdings in Copart by 2.5% during the 3rd quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider's stock worth $2,037,130,000 after acquiring an additional 941,858 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Copart by 8.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 16,008,444 shares of the business services provider's stock worth $867,017,000 after acquiring an additional 1,199,781 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Copart by 0.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,898,956 shares of the business services provider's stock worth $427,807,000 after acquiring an additional 30,454 shares during the last quarter. Legal & General Group Plc grew its holdings in Copart by 9.4% during the 2nd quarter. Legal & General Group Plc now owns 6,943,042 shares of the business services provider's stock worth $376,035,000 after acquiring an additional 598,566 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings 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 acquiring an additional 1,500,466 shares during the last quarter. Institutional investors own 85.78% of the company's stock.

Wall Street Analysts Forecast Growth

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

Copart Price Performance

CPRT traded up $0.63 during mid-day trading on Monday, hitting $56.75. The stock had a trading volume of 2,241,519 shares, compared to its average volume of 4,414,670. 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 $54.67 billion, a price-to-earnings ratio of 40.86 and a beta of 1.27. The stock's fifty day simple moving average is $52.44 and its 200-day simple moving average is $53.02.

Copart (NASDAQ:CPRT - Get Free Report) last announced its quarterly earnings results 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). Copart had a net margin of 32.17% and a return on equity of 19.55%. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the firm earned $0.34 EPS. Copart's quarterly revenue was up 7.2% on a year-over-year basis. As a group, research analysts expect 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.