Hennion & Walsh Asset Management Inc. Acquires 5,262 Shares of Copart, Inc. (NASDAQ:CPRT)

Hennion & Walsh Asset Management Inc. increased its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 26.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 25,232 shares of the business services provider’s stock after buying an additional 5,262 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Copart were worth $1,322,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CPRT. Bank of New York Mellon Corp grew its stake in shares of Copart by 8.1% in the 2nd 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 buying an additional 1,199,781 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Copart by 0.4% in 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 acquiring an additional 30,454 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Copart by 9.4% in the second quarter. Legal & General Group Plc now owns 6,943,042 shares of the business services provider’s stock worth $376,035,000 after acquiring an additional 598,566 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of 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 valued at $397,406,000 after acquiring an additional 1,500,466 shares in the last quarter. Finally, William Blair Investment Management LLC raised its position in shares of Copart by 9.9% in the 1st quarter. William Blair Investment Management LLC now owns 5,498,210 shares of the business services provider’s stock worth $318,456,000 after purchasing an additional 496,643 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Trading Up 0.6 %

Shares of CPRT opened at $51.71 on Friday. The company has a market cap of $49.76 billion, a price-to-earnings ratio of 36.42 and a beta of 1.27. The business’s fifty day simple moving average is $52.30 and its two-hundred day simple moving average is $53.12. Copart, Inc. has a 12 month low of $42.41 and a 12 month high of $58.58.

Copart (NASDAQ:CPRT) last released 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). Copart had a net margin of 32.17% and a return on equity of 19.55%. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period last year, the business earned $0.34 earnings per share. The company’s quarterly revenue was up 7.2% on a year-over-year basis. As a group, research analysts forecast that Copart, Inc. will post 1.54 EPS for the current year.

Analyst Upgrades and Downgrades

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 note on Thursday, September 5th.

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.