Copart, Inc. (NASDAQ:CPRT) Stock Position Raised by ING Groep NV

ING Groep NV raised its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 18.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 367,296 shares of the business services provider's stock after acquiring an additional 57,498 shares during the quarter. ING Groep NV's holdings in Copart were worth $19,246,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Dorsey & Whitney Trust CO LLC increased its stake in Copart by 2.4% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 9,054 shares of the business services provider's stock valued at $524,000 after purchasing an additional 209 shares during the last quarter. Twin Tree Management LP acquired a new position in Copart in the first quarter valued at $3,877,000. Nwam LLC acquired a new position in Copart in the first quarter valued at $224,000. Cumberland Partners Ltd purchased a new stake in Copart during the first quarter valued at about $434,000. Finally, Motco grew its position in Copart by 6,085.7% during the first quarter. Motco now owns 10,392 shares of the business services provider's stock valued at $602,000 after acquiring an additional 10,224 shares during the period. 85.78% of the stock is owned by institutional investors and hedge funds.

Copart Trading Down 1.2 %

NASDAQ CPRT traded down $0.67 on Friday, hitting $56.67. 3,040,860 shares of the stock traded hands, compared to its average volume of 4,393,464. The stock has a 50-day moving average of $52.99 and a 200 day moving average of $53.11. Copart, Inc. has a twelve month low of $46.21 and a twelve month high of $58.58. The company has a market capitalization of $54.59 billion, a P/E ratio of 40.77 and a beta of 1.27.

Copart (NASDAQ:CPRT - Get Free Report) last announced 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 for 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 company's quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.34 EPS. As a group, equities research analysts expect that Copart, Inc. will post 1.54 earnings per share for the current year.

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 Profile

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.