Acadian Asset Management LLC Takes $1.12 Million Position in Copart, Inc. (NASDAQ:CPRT)

Acadian Asset Management LLC purchased a new stake in shares of Copart, Inc. (NASDAQ:CPRT) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 20,745 shares of the business services provider’s stock, valued at approximately $1,123,000.

Several other large investors have also recently bought and sold shares of CPRT. Rise Advisors LLC acquired a new stake in shares of Copart during the 1st quarter valued at $28,000. Pinnacle Bancorp Inc. raised its stake in shares of Copart by 79.6% during the 1st quarter. Pinnacle Bancorp Inc. now owns 528 shares of the business services provider’s stock worth $31,000 after purchasing an additional 234 shares in the last quarter. Crewe Advisors LLC lifted its holdings in shares of Copart by 98.6% during the 2nd quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock valued at $31,000 after buying an additional 280 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Copart by 477.7% in the 2nd quarter. Versant Capital Management Inc now owns 595 shares of the business services provider’s stock valued at $32,000 after buying an additional 492 shares in the last quarter. Finally, Indiana Trust & Investment Management CO acquired a new position in Copart in the first quarter worth approximately $36,000. 85.78% of the stock is owned by institutional investors and hedge funds.

Copart Stock Performance

Shares of NASDAQ CPRT opened at $49.75 on Tuesday. The business’s 50-day simple moving average is $51.75 and its 200-day simple moving average is $53.78. Copart, Inc. has a 52 week low of $42.41 and a 52 week high of $58.58. The firm has a market cap of $47.87 billion, a price-to-earnings ratio of 35.04 and a beta of 1.27.

Copart (NASDAQ:CPRT) last announced 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 company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. Copart had a net margin of 32.17% and a return on equity of 19.55%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the business earned $0.34 EPS. As a group, equities research analysts forecast that Copart, Inc. will post 1.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird decreased their target price on shares of Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th.

About Copart

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.