Pittenger & Anderson Inc. Buys 25,826 Shares of Copart, Inc. (NASDAQ:CPRT)

Pittenger & Anderson Inc. raised its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 52.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,093 shares of the business services provider's stock after purchasing an additional 25,826 shares during the quarter. Pittenger & Anderson Inc.'s holdings in Copart were worth $3,935,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

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

Copart Stock Up 0.8 %

Copart stock traded up $0.45 during trading hours on Tuesday, hitting $52.89. The stock had a trading volume of 3,858,249 shares, compared to its average volume of 4,427,612. The company has a 50-day moving average of $52.26 and a two-hundred day moving average of $52.99. Copart, Inc. has a fifty-two week low of $45.50 and a fifty-two week high of $58.58. The company has a market cap of $50.95 billion, a PE ratio of 38.29 and a beta of 1.27.

Copart (NASDAQ:CPRT - Get Free Report) last posted its quarterly earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share 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 in the prior year, the firm earned $0.34 EPS. The firm's quarterly revenue was up 7.2% on a year-over-year basis. As a group, analysts forecast that Copart, Inc. will post 1.54 EPS for the current fiscal year.

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.