First Trust Direct Indexing L.P. Boosts Stock Position in Copart, Inc. (NASDAQ:CPRT)

First Trust Direct Indexing L.P. boosted its position in shares of Copart, Inc. (NASDAQ:CPRT) by 24.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,293 shares of the business services provider’s stock after buying an additional 5,193 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Copart were worth $1,378,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Fidelis Capital Partners LLC boosted its stake in Copart by 1.7% during the third quarter. Fidelis Capital Partners LLC now owns 15,398 shares of the business services provider’s stock worth $791,000 after buying an additional 256 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in Copart by 111.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 12,206 shares of the business services provider’s stock worth $640,000 after buying an additional 6,420 shares during the period. abrdn plc boosted its stake in Copart by 17.8% during the third quarter. abrdn plc now owns 278,934 shares of the business services provider’s stock worth $14,576,000 after buying an additional 42,182 shares during the period. Semanteon Capital Management LP boosted its stake in shares of Copart by 26.4% during the third quarter. Semanteon Capital Management LP now owns 9,509 shares of the business services provider’s stock valued at $498,000 after purchasing an additional 1,988 shares during the period. Finally, Cavalier Investments LLC boosted its stake in shares of Copart by 6.7% during the third quarter. Cavalier Investments LLC now owns 49,765 shares of the business services provider’s stock valued at $2,608,000 after purchasing an additional 3,105 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Robert W. Baird lowered 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 Price Performance

CPRT stock opened at $51.47 on Friday. The business has a 50-day moving average price of $52.29 and a 200 day moving average price of $53.03. The company has a market capitalization of $49.58 billion, a P/E ratio of 36.25 and a beta of 1.27. Copart, Inc. has a 1-year low of $42.83 and a 1-year high of $58.58.

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

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.