Copart, Inc. (NASDAQ:CPRT) Shares Purchased by Burgundy Asset Management Ltd.

Burgundy Asset Management Ltd. grew its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 0.9% during the second quarter, Holdings Channel reports. The institutional investor owned 702,109 shares of the business services provider’s stock after acquiring an additional 6,128 shares during the period. Burgundy Asset Management Ltd.’s holdings in Copart were worth $38,026,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its position in Copart by 116.1% in the first quarter. Bank of New York Mellon Corp now owns 14,808,663 shares of the business services provider’s stock worth $857,718,000 after purchasing an additional 7,956,043 shares during the period. TD Asset Management Inc lifted its holdings in shares of Copart by 258.1% in the fourth quarter. TD Asset Management Inc now owns 3,392,855 shares of the business services provider’s stock valued at $166,250,000 after buying an additional 2,445,440 shares during the period. Manning & Napier Advisors LLC bought a new position in Copart during the second quarter valued at about $109,382,000. Price T Rowe Associates Inc. MD grew its holdings in Copart by 28.0% during the first 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 acquiring an additional 1,500,466 shares during the period. Finally, Epoch Investment Partners Inc. raised its position in Copart by 250.2% in the fourth quarter. Epoch Investment Partners Inc. now owns 1,773,555 shares of the business services provider’s stock worth $86,904,000 after acquiring an additional 1,267,130 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, 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 report on Thursday, September 5th.

Copart Stock Up 0.6 %

CPRT opened at $51.00 on Thursday. The firm has a market cap of $49.08 billion, a PE ratio of 35.92 and a beta of 1.27. The business has a fifty day simple moving average of $51.68 and a 200-day simple moving average of $53.76. Copart, Inc. has a fifty-two week low of $42.41 and a fifty-two week high of $58.58.

Copart (NASDAQ:CPRT) last released 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). The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. Copart had a net margin of 32.17% and a return on equity of 19.55%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.34 EPS. On average, equities research analysts anticipate 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.