Stonegate Investment Group LLC Increases Stake in Copart, Inc. (NASDAQ:CPRT)

Stonegate Investment Group LLC raised its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 4.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,673 shares of the business services provider’s stock after buying an additional 264 shares during the quarter. Stonegate Investment Group LLC’s holdings in Copart were worth $297,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp boosted its position in Copart by 8.1% during the second 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 acquiring an additional 1,199,781 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Copart by 0.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,898,956 shares of the business services provider’s stock worth $427,807,000 after purchasing an additional 30,454 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Copart by 9.4% during the 2nd quarter. Legal & General Group Plc now owns 6,943,042 shares of the business services provider’s stock worth $376,035,000 after purchasing an additional 598,566 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Copart by 28.0% in 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 purchasing an additional 1,500,466 shares in the last quarter. Finally, William Blair Investment Management LLC increased its holdings in shares of Copart by 9.9% in the first quarter. William Blair Investment Management LLC now owns 5,498,210 shares of the business services provider’s stock valued at $318,456,000 after purchasing an additional 496,643 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Robert W. Baird lowered their price objective on Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th.

Copart Price Performance

Shares of CPRT stock opened at $53.88 on Friday. The company has a market capitalization of $51.85 billion, a PE ratio of 37.94 and a beta of 1.27. The firm’s 50-day moving average is $52.22 and its two-hundred day moving average is $53.29. 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 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). The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Copart had a net margin of 32.17% and a return on equity of 19.55%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.34 EPS. Sell-side analysts forecast that Copart, Inc. will post 1.54 EPS for the current year.

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.