Quantinno Capital Management LP Increases Stake in Copart, Inc. (NASDAQ:CPRT)

Quantinno Capital Management LP grew its holdings in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 96.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 93,544 shares of the business services provider's stock after purchasing an additional 45,880 shares during the quarter. Quantinno Capital Management LP's holdings in Copart were worth $4,902,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Optimum Investment Advisors boosted its holdings in Copart by 141.5% in the 3rd 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 period. Eastern Bank bought a new position in shares of Copart in the third quarter worth $29,000. Quarry LP purchased a new position in shares of Copart in the third quarter valued at $29,000. Crewe Advisors LLC raised its stake 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 purchasing an additional 280 shares during the period. Finally, Meeder Asset Management Inc. lifted its holdings in Copart by 283.3% during the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 85.78% of the company's stock.

Copart Stock Up 0.3 %

NASDAQ:CPRT traded up $0.17 during trading hours on Friday, hitting $62.08. 2,905,943 shares of the company's stock traded hands, compared to its average volume of 4,609,977. Copart, Inc. has a 52 week low of $46.21 and a 52 week high of $64.38. The business's fifty day simple moving average is $56.07 and its two-hundred day simple moving average is $53.76. The firm has a market cap of $59.82 billion, a P/E ratio of 43.72 and a beta of 1.31.

Copart (NASDAQ:CPRT - Get Free Report) last issued its quarterly earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.37. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.10 billion. Copart had a return on equity of 18.96% and a net margin of 31.92%. The company's revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter last year, the company posted $0.34 EPS. On average, analysts expect that Copart, Inc. will post 1.57 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CPRT. JPMorgan Chase & Co. lifted their target price on Copart from $55.00 to $60.00 and gave the company a "neutral" rating in a report on Tuesday, November 19th. Robert W. Baird reduced their price objective 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.

Insider Buying and Selling at Copart

In other Copart news, Chairman A Jayson Adair sold 251,423 shares of the firm's stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the sale, the chairman now owns 14,436,557 shares in the company, valued at $920,907,971.03. This trade represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 9.68% of the stock is currently owned by company insiders.

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.