Wesbanco Bank Inc. Purchases New Position in Copart, Inc. (NASDAQ:CPRT)

Wesbanco Bank Inc. acquired a new stake in Copart, Inc. (NASDAQ:CPRT) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,389 shares of the business services provider’s stock, valued at approximately $230,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Perpetual Ltd raised its position in shares of Copart by 9.6% during the 1st quarter. Perpetual Ltd now owns 161,318 shares of the business services provider’s stock worth $9,344,000 after purchasing an additional 14,126 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of Copart by 44.1% in the first quarter. Nordea Investment Management AB now owns 2,078,277 shares of the business services provider’s stock valued at $120,602,000 after acquiring an additional 636,438 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its stake in shares of Copart by 40.6% in the first quarter. Silvercrest Asset Management Group LLC now owns 37,962 shares of the business services provider’s stock worth $2,199,000 after acquiring an additional 10,959 shares during the last quarter. Motco increased its position in shares of Copart by 6,085.7% during the first quarter. Motco now owns 10,392 shares of the business services provider’s stock worth $602,000 after purchasing an additional 10,224 shares in the last quarter. Finally, Twin Tree Management LP acquired a new position in Copart in the 1st quarter valued at $3,877,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Copart Stock Performance

NASDAQ:CPRT opened at $54.54 on Thursday. The stock has a 50 day moving average price of $52.09 and a 200 day moving average price of $53.34. The stock has a market cap of $52.48 billion, a PE ratio of 38.41 and a beta of 1.27. Copart, Inc. has a one year low of $42.41 and a one year high of $58.58.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). Copart had a net margin of 32.17% and a return on equity of 19.55%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the firm posted $0.34 EPS. The company’s revenue was up 7.2% compared to the same quarter last year. As a group, analysts predict that Copart, Inc. will post 1.54 earnings per share 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.