Vanguard Personalized Indexing Management LLC Increases Stake in Copart, Inc. (NASDAQ:CPRT)

Vanguard Personalized Indexing Management LLC increased its position in shares of Copart, Inc. (NASDAQ:CPRT) by 6.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 89,338 shares of the business services provider’s stock after purchasing an additional 5,283 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Copart were worth $4,789,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CPRT. Rise Advisors LLC bought a new stake in Copart in the first quarter worth about $28,000. Pinnacle Bancorp Inc. lifted 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 acquiring an additional 234 shares during the last quarter. Crewe Advisors LLC lifted its stake 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 worth $31,000 after acquiring an additional 280 shares during the last quarter. Meeder Asset Management Inc. boosted its holdings in Copart by 283.3% during the 2nd quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 425 shares during the period. Finally, Versant Capital Management Inc grew its position in 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 acquiring an additional 492 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors.

Copart Stock Performance

Copart stock opened at $51.00 on Thursday. Copart, Inc. has a fifty-two week low of $42.41 and a fifty-two week high of $58.58. The company has a market capitalization of $49.08 billion, a PE ratio of 35.92 and a beta of 1.27. The company has a 50 day moving average price of $51.68 and a 200-day moving average price of $53.76.

Copart (NASDAQ:CPRT) last issued its earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Copart had a return on equity of 19.55% and a net margin of 32.17%. Copart’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.34 earnings per share. On average, analysts forecast that Copart, Inc. will post 1.54 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Robert W. Baird lowered their target price on shares of Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research note 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.