Copart, Inc. (NASDAQ:CPRT) Shares Purchased by Forsta AP Fonden

Forsta AP Fonden lifted its stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 10.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 183,000 shares of the business services provider's stock after purchasing an additional 17,700 shares during the period. Forsta AP Fonden's holdings in Copart were worth $9,589,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Assenagon Asset Management S.A. boosted its stake in Copart by 462.8% during the third quarter. Assenagon Asset Management S.A. now owns 3,668,696 shares of the business services provider's stock worth $192,240,000 after buying an additional 3,016,795 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of Copart during the 2nd quarter valued at about $109,382,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Copart by 28.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,861,282 shares of the business services provider's stock valued at $397,406,000 after purchasing an additional 1,500,466 shares during the period. TD Asset Management Inc increased its position in Copart by 43.3% during the first quarter. TD Asset Management Inc now owns 4,862,147 shares of the business services provider's stock worth $281,616,000 after purchasing an additional 1,469,292 shares during the last quarter. Finally, Kimelman & Baird LLC acquired a new stake in Copart during the second quarter worth about $70,307,000. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Copart Stock Performance

Shares of NASDAQ CPRT traded up $0.14 during mid-day trading on Monday, reaching $51.85. 3,030,741 shares of the company's stock were exchanged, compared to its average volume of 4,460,134. The company's 50-day moving average is $52.30 and its 200-day moving average is $53.07. The firm has a market capitalization of $49.90 billion, a price-to-earnings ratio of 36.51 and a beta of 1.27. Copart, Inc. has a 52-week low of $42.41 and a 52-week high of $58.58.

Copart (NASDAQ:CPRT - Get Free Report) last announced its earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). Copart had a return on equity of 19.55% and a net margin of 32.17%. The company had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $1.07 billion. During the same period last year, the business earned $0.34 EPS. The company's quarterly revenue was up 7.2% compared to the same quarter last year. As a group, equities analysts predict that Copart, Inc. will post 1.54 earnings per share for the current fiscal year.

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.