E Fund Management Co. Ltd. Increases Stock Position in Copart, Inc. (NASDAQ:CPRT)

E Fund Management Co. Ltd. increased its position in Copart, Inc. (NASDAQ:CPRT) by 11.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,482 shares of the business services provider’s stock after acquiring an additional 1,118 shares during the period. E Fund Management Co. Ltd.’s holdings in Copart were worth $568,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Perpetual Ltd raised its holdings in Copart by 9.6% in the 1st quarter. Perpetual Ltd now owns 161,318 shares of the business services provider’s stock worth $9,344,000 after acquiring an additional 14,126 shares during the last quarter. Nordea Investment Management AB raised its stake in Copart by 44.1% during the 1st quarter. Nordea Investment Management AB now owns 2,078,277 shares of the business services provider’s stock valued at $120,602,000 after buying an additional 636,438 shares during the last quarter. Baird Financial Group Inc. raised its stake in Copart by 15.9% during the 4th quarter. Baird Financial Group Inc. now owns 2,922,176 shares of the business services provider’s stock valued at $143,187,000 after buying an additional 400,940 shares during the last quarter. Silvercrest Asset Management Group LLC raised its stake in Copart by 40.6% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 37,962 shares of the business services provider’s stock valued at $2,199,000 after buying an additional 10,959 shares during the last quarter. Finally, Motco raised its stake in Copart by 6,085.7% during the 1st quarter. Motco now owns 10,392 shares of the business services provider’s stock valued at $602,000 after buying an additional 10,224 shares during the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Trading Up 0.6 %

Shares of 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 firm has a fifty day simple moving average of $51.68 and a two-hundred day simple moving average of $53.76. Copart, Inc. has a 1-year low of $42.41 and a 1-year high of $58.58.

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

Wall Street Analyst Weigh In

Separately, Robert W. Baird decreased their target price 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 Company 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.