Copart, Inc. (NASDAQ:CPRT) Shares Bought by Advisors Asset Management Inc.

Advisors Asset Management Inc. lifted its position in shares of Copart, Inc. (NASDAQ:CPRT) by 25.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,856 shares of the business services provider’s stock after buying an additional 3,177 shares during the quarter. Advisors Asset Management Inc.’s holdings in Copart were worth $831,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Jensen Investment Management Inc. boosted its stake in shares of Copart by 2,466.0% during the third quarter. Jensen Investment Management Inc. now owns 3,536,233 shares of the business services provider’s stock valued at $185,299,000 after acquiring an additional 3,398,423 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Copart by 462.8% during the third quarter. Assenagon Asset Management S.A. now owns 3,668,696 shares of the business services provider’s stock worth $192,240,000 after purchasing an additional 3,016,795 shares during the last quarter. Manning & Napier Advisors LLC purchased a new stake in Copart in the 2nd quarter valued at about $109,382,000. Comgest Global Investors S.A.S. grew its holdings in Copart by 706.6% in the third quarter. Comgest Global Investors S.A.S. now owns 1,586,886 shares of the business services provider’s stock valued at $83,153,000 after purchasing an additional 1,390,146 shares during the period. Finally, Kimelman & Baird LLC purchased a new stake in shares of Copart during the 2nd quarter valued at $70,307,000. 85.78% of the stock is owned by institutional investors and hedge funds.

Copart Price Performance

Shares of CPRT stock opened at $63.80 on Wednesday. Copart, Inc. has a 12-month low of $46.21 and a 12-month high of $64.19. The firm has a market capitalization of $61.46 billion, a price-to-earnings ratio of 44.93 and a beta of 1.27. The business has a 50 day simple moving average of $54.07 and a 200 day simple moving average of $53.24.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results 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 31.92% and a return on equity of 18.96%. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter last year, the company posted $0.34 EPS. The firm’s revenue was up 7.2% compared to the same quarter last year. On average, equities analysts anticipate that Copart, Inc. will post 1.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CPRT shares. JPMorgan Chase & Co. increased their target price on shares of Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Robert W. Baird reduced their price target on shares of Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a research report 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.