Copart, Inc. (NASDAQ:CPRT) Shares Bought by Creative Planning

Creative Planning lifted its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 1.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 141,602 shares of the business services provider’s stock after purchasing an additional 1,646 shares during the period. Creative Planning’s holdings in Copart were worth $7,420,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the business. Bank of New York Mellon Corp grew 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 buying an additional 1,199,781 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of 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 acquiring an additional 30,454 shares during the period. Legal & General Group Plc increased its stake in Copart by 9.4% in the 2nd quarter. Legal & General Group Plc now owns 6,943,042 shares of the business services provider’s stock valued at $376,035,000 after purchasing an additional 598,566 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in 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 worth $397,406,000 after purchasing an additional 1,500,466 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its position in Copart by 9.9% during the first 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 in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird cut their price target on 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

Shares of Copart stock opened at $51.36 on Thursday. Copart, Inc. has a 1 year low of $42.41 and a 1 year high of $58.58. The business has a 50 day moving average price of $52.28 and a 200 day moving average price of $53.20. The company has a market capitalization of $49.42 billion, a P/E ratio of 36.17 and a beta of 1.27.

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