NGAM Advisors L.P. bought a new stake in shares of Copart, Inc. (NASDAQ:CPRT) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 15,005 shares of the business services provider’s stock, valued at approximately $477,000.
Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of Copart by 3.8% in the first quarter. Vanguard Group Inc. now owns 7,950,119 shares of the business services provider’s stock worth $492,351,000 after buying an additional 290,275 shares during the last quarter. BlackRock Inc. raised its position in shares of Copart by 11,504.1% in the first quarter. BlackRock Inc. now owns 7,903,656 shares of the business services provider’s stock worth $489,473,000 after buying an additional 7,835,545 shares during the last quarter. William Blair Investment Management LLC raised its position in shares of Copart by 31.7% in the first quarter. William Blair Investment Management LLC now owns 5,500,545 shares of the business services provider’s stock worth $340,649,000 after buying an additional 1,324,570 shares during the last quarter. US Bancorp DE raised its position in shares of Copart by 102.8% in the second quarter. US Bancorp DE now owns 3,001,847 shares of the business services provider’s stock worth $95,428,000 after buying an additional 1,521,619 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Copart by 8.0% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,883,576 shares of the business services provider’s stock worth $178,580,000 after buying an additional 212,528 shares during the last quarter. Hedge funds and other institutional investors own 49.65% of the company’s stock.
Copart, Inc. (NASDAQ CPRT) opened at 31.88 on Friday. The company has a 50-day moving average of $31.43 and a 200-day moving average of $41.05. The stock has a market capitalization of $7.34 billion, a price-to-earnings ratio of 18.40 and a beta of 1.22. Copart, Inc. has a one year low of $28.89 and a one year high of $63.14.
Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Wednesday, May 24th. The business services provider reported $0.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.01. The business had revenue of $373.90 million during the quarter, compared to analysts’ expectations of $386.61 million. Copart had a net margin of 29.10% and a return on equity of 33.20%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the company posted $0.64 earnings per share. On average, equities analysts forecast that Copart, Inc. will post $1.25 EPS for the current fiscal year.
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CPRT has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Copart from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a report on Tuesday, April 25th. Jefferies Group LLC boosted their price objective on shares of Copart from $30.00 to $33.00 and gave the stock a “hold” rating in a report on Tuesday, May 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. Copart has an average rating of “Hold” and an average price target of $48.80.
Copart Company Profile
Copart, Inc (Copart) is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain, Brazil, Ireland, Spain and India. The Company also provides vehicle remarketing services in Germany. The Company operates through two segments: United States and International.
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