Lecap Asset Management Ltd. Buys New Shares in Copart, Inc. (NASDAQ:CPRT)

Lecap Asset Management Ltd. purchased a new stake in Copart, Inc. (NASDAQ:CPRT - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 66,975 shares of the business services provider's stock, valued at approximately $3,509,000. Copart makes up 0.8% of Lecap Asset Management Ltd.'s investment portfolio, making the stock its 20th largest holding.

Other institutional investors have also recently bought and sold shares of the company. Optimum Investment Advisors raised its stake in shares of 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 buying an additional 300 shares during the last quarter. Eastern Bank bought a new stake in shares of Copart during the 3rd quarter valued at $29,000. Pinnacle Bancorp Inc. lifted its stake in shares of Copart by 79.6% in the 1st quarter. Pinnacle Bancorp Inc. now owns 528 shares of the business services provider's stock valued at $31,000 after purchasing an additional 234 shares during the period. Crewe Advisors LLC boosted its position in shares of Copart by 98.6% in the 2nd 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 last quarter. Finally, Meeder Asset Management Inc. grew its stake in shares of 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. Institutional investors own 85.78% of the company's stock.

Wall Street Analyst Weigh In

Separately, Robert W. Baird cut 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.

Copart Trading Down 1.4 %

Shares of CPRT stock traded down $0.71 on Wednesday, hitting $51.36. The stock had a trading volume of 2,376,275 shares, compared to its average volume of 4,486,731. Copart, Inc. has a twelve month low of $42.41 and a twelve month high of $58.58. The firm has a market cap of $49.42 billion, a P/E ratio of 36.67 and a beta of 1.27. The company has a fifty day moving average price of $52.28 and a two-hundred day moving average price of $53.20.

Copart (NASDAQ:CPRT - Get Free Report) last issued 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 company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.07 billion. Copart had a return on equity of 19.55% and a net margin of 32.17%. The firm's revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.34 EPS. On average, analysts expect that Copart, Inc. will post 1.54 earnings per share for the current year.

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.