Copart, Inc. (NASDAQ:CPRT) Stock Holdings Lifted by Edgewood Management LLC

Edgewood Management LLC grew its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 0.6% in the third quarter, Holdings Channel.com reports. The fund owned 20,555,713 shares of the business services provider’s stock after buying an additional 125,220 shares during the quarter. Copart comprises about 2.9% of Edgewood Management LLC’s holdings, making the stock its 20th biggest position. Edgewood Management LLC’s holdings in Copart were worth $1,077,119,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CPRT. Optimum Investment Advisors lifted its stake in Copart by 141.5% during the third quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock valued at $27,000 after buying an additional 300 shares in the last quarter. Eastern Bank purchased a new stake in shares of Copart in the 3rd quarter valued at approximately $29,000. Crewe Advisors LLC grew its position in 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 purchasing an additional 280 shares in the last quarter. Meeder Asset Management Inc. grew its position in Copart by 283.3% during the 2nd quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock worth $31,000 after purchasing an additional 425 shares in the last quarter. Finally, Versant Capital Management Inc raised its stake in Copart by 477.7% during the 2nd quarter. Versant Capital Management Inc now owns 595 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 492 shares during the period. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Trading Up 2.8 %

NASDAQ CPRT opened at $56.97 on Friday. Copart, Inc. has a 1-year low of $46.21 and a 1-year high of $58.58. The firm’s fifty day simple moving average is $53.54 and its 200-day simple moving average is $53.16. The company has a market capitalization of $54.88 billion, a PE ratio of 40.98 and a beta of 1.27.

Copart (NASDAQ:CPRT) last posted 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 firm had revenue of $1.07 billion for 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%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period last year, the business earned $0.34 earnings per share. As a group, analysts predict that Copart, Inc. will post 1.54 EPS for the current year.

Wall Street Analysts Forecast Growth

CPRT has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted their price target on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday. Robert W. Baird lowered their target price on Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th.

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.