Assenagon Asset Management S.A. Raises Stock Position in Copart, Inc. (NASDAQ:CPRT)

Assenagon Asset Management S.A. increased its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 462.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,668,696 shares of the business services provider's stock after acquiring an additional 3,016,795 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.38% of Copart worth $192,240,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CPRT. Optimum Investment Advisors grew its holdings 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 in the last quarter. Eastern Bank acquired a new position in shares of Copart during the 3rd quarter valued at about $29,000. Pinnacle Bancorp Inc. boosted its position in shares of Copart by 79.6% during the 1st quarter. Pinnacle Bancorp Inc. now owns 528 shares of the business services provider's stock valued at $31,000 after acquiring an additional 234 shares during the last quarter. Crewe Advisors LLC boosted its position in shares of Copart by 98.6% during the 2nd quarter. Crewe Advisors LLC now owns 564 shares of the business services provider's stock valued at $31,000 after acquiring an additional 280 shares during the last quarter. Finally, Meeder Asset Management Inc. boosted its position in shares of Copart by 283.3% during the 2nd quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider's stock valued at $31,000 after acquiring an additional 425 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company's stock.

Copart Stock Performance

Shares of CPRT stock traded up $0.02 on Thursday, hitting $51.38. 2,584,980 shares of the stock traded hands, compared to its average volume of 4,477,505. The firm's 50-day moving average price is $52.29 and its two-hundred day moving average price is $53.19. The stock has a market capitalization of $49.44 billion, a PE ratio of 36.17 and a beta of 1.27. Copart, Inc. has a twelve month low of $42.41 and a twelve month high of $58.58.

Copart (NASDAQ:CPRT - Get Free Report) last posted its 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 net margin of 32.17% and a return on equity of 19.55%. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the company earned $0.34 EPS. The company's quarterly revenue was up 7.2% compared to the same quarter last year. On average, equities research analysts anticipate that Copart, Inc. will post 1.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Robert W. Baird lowered their price target on shares of Copart from $58.00 to $56.00 and set an "outperform" rating on the stock in a research report 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.