Copart, Inc. (NASDAQ:CPRT) Shares Acquired by Advisors Asset Management Inc.

Advisors Asset Management Inc. boosted its holdings in Copart, Inc. (NASDAQ:CPRT) by 25.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,856 shares of the business services provider’s stock after purchasing an additional 3,177 shares during the quarter. Advisors Asset Management Inc.’s holdings in Copart were worth $831,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its position in shares of Copart by 2.5% in the 3rd quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider’s stock valued at $2,037,130,000 after buying an additional 941,858 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Copart by 8.1% during the second quarter. Bank of New York Mellon Corp now owns 16,008,444 shares of the business services provider’s stock worth $867,017,000 after purchasing an additional 1,199,781 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Copart by 0.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,898,956 shares of the business services provider’s stock worth $427,807,000 after purchasing an additional 30,454 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Copart by 9.4% in the 2nd quarter. Legal & General Group Plc now owns 6,943,042 shares of the business services provider’s stock valued at $376,035,000 after purchasing an additional 598,566 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in Copart by 3.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 4,203,851 shares of the business services provider’s stock worth $227,681,000 after buying an additional 121,695 shares during the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Stock Up 0.1 %

NASDAQ CPRT opened at $63.80 on Wednesday. The stock has a market capitalization of $61.46 billion, a P/E ratio of 44.93 and a beta of 1.27. Copart, Inc. has a 52-week low of $46.21 and a 52-week high of $64.19. The firm has a 50-day moving average price of $54.07 and a 200 day moving average price of $53.24.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data 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 18.96% and a net margin of 31.92%. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the company earned $0.34 EPS. The company’s revenue was up 7.2% on a year-over-year basis. On average, equities research analysts expect that Copart, Inc. will post 1.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CPRT has been the subject of several research analyst reports. Robert W. Baird decreased their price objective on Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. JPMorgan Chase & Co. increased their target price on shares of Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th.

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.