Jensen Investment Management Inc. Has $185.30 Million Stake in Copart, Inc. (NASDAQ:CPRT)

Jensen Investment Management Inc. lifted its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 2,466.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,536,233 shares of the business services provider's stock after buying an additional 3,398,423 shares during the quarter. Copart comprises 1.5% of Jensen Investment Management Inc.'s investment portfolio, making the stock its 26th largest holding. Jensen Investment Management Inc. owned 0.37% of Copart worth $185,299,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Optimum Investment Advisors boosted its position in Copart by 141.5% during the third quarter. Optimum Investment Advisors now owns 512 shares of the business services provider's stock worth $27,000 after purchasing an additional 300 shares during the period. Eastern Bank bought a new stake in Copart during the third quarter worth approximately $29,000. Crewe Advisors LLC boosted its position in Copart by 98.6% during the second quarter. Crewe Advisors LLC now owns 564 shares of the business services provider's stock worth $31,000 after purchasing an additional 280 shares during the period. Meeder Asset Management Inc. boosted its position in Copart by 283.3% during the second quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider's stock worth $31,000 after purchasing an additional 425 shares during the period. Finally, Versant Capital Management Inc boosted its position in Copart by 477.7% during the second quarter. Versant Capital Management Inc now owns 595 shares of the business services provider's stock worth $32,000 after purchasing an additional 492 shares during the period. Institutional investors own 85.78% of the company's stock.

Copart Stock Up 0.6 %

Shares of CPRT stock traded up $0.35 during trading hours on Friday, reaching $56.12. 3,186,506 shares of the company's stock were exchanged, compared to its average volume of 3,849,101. Copart, Inc. has a fifty-two week low of $46.21 and a fifty-two week high of $58.58. The stock has a market capitalization of $54.06 billion, a P/E ratio of 40.37 and a beta of 1.27. The business has a fifty day moving average price of $52.44 and a 200-day moving average price of $53.02.

Copart (NASDAQ:CPRT - Get Free Report) last issued its quarterly 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 business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the firm earned $0.34 earnings per share. The firm's quarterly revenue was up 7.2% compared to the same quarter last year. As a group, research analysts expect that Copart, Inc. will post 1.54 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird decreased their target price 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 Company 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.