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

Creative Planning boosted its position in Copart, Inc. (NASDAQ:CPRT) by 1.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 141,602 shares of the business services provider’s stock after acquiring an additional 1,646 shares during the quarter. Creative Planning’s holdings in Copart were worth $7,420,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Nordea Investment Management AB raised its stake in Copart by 44.1% during the 1st quarter. Nordea Investment Management AB now owns 2,078,277 shares of the business services provider’s stock worth $120,602,000 after acquiring an additional 636,438 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its position in shares of Copart by 40.6% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 37,962 shares of the business services provider’s stock valued at $2,199,000 after purchasing an additional 10,959 shares during the period. Motco grew its stake in Copart by 6,085.7% during the 1st quarter. Motco now owns 10,392 shares of the business services provider’s stock worth $602,000 after buying an additional 10,224 shares during the last quarter. Twin Tree Management LP acquired a new position in Copart during the first quarter worth approximately $3,877,000. Finally, Manning & Napier Advisors LLC purchased a new stake in Copart in the second quarter valued at approximately $109,382,000. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Analyst Upgrades and Downgrades

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

Copart Stock Down 1.4 %

Shares of CPRT stock opened at $51.36 on Thursday. The stock’s 50-day moving average price is $52.28 and its 200 day moving average price is $53.20. The stock has a market capitalization of $49.42 billion, a PE ratio of 36.17 and a beta of 1.27. Copart, Inc. has a 52-week low of $42.41 and a 52-week high of $58.58.

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