66,975 Shares in Copart, Inc. (NASDAQ:CPRT) Bought by Lecap Asset Management Ltd.

Lecap Asset Management Ltd. acquired a new stake in Copart, Inc. (NASDAQ:CPRT) in the third quarter, Holdings Channel reports. The institutional investor acquired 66,975 shares of the business services provider’s stock, valued at approximately $3,509,000. Copart accounts for about 0.8% of Lecap Asset Management Ltd.’s portfolio, making the stock its 20th largest holding.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Optimum Investment Advisors raised its position in shares of Copart by 141.5% in the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 300 shares during the period. Eastern Bank acquired a new stake in Copart in the third quarter worth $29,000. Pinnacle Bancorp Inc. boosted its position in shares of Copart by 79.6% during the first 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 grew its holdings in shares of Copart by 98.6% in 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 period. Finally, Meeder Asset Management Inc. increased its position in shares of Copart by 283.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock valued at $31,000 after buying an additional 425 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Stock Performance

Shares of CPRT stock opened at $52.07 on Wednesday. Copart, Inc. has a 52 week low of $42.41 and a 52 week high of $58.58. The company’s 50 day moving average price is $52.28 and its two-hundred day moving average price is $53.20. The company has a market capitalization of $50.11 billion, a P/E ratio of 36.67 and a beta of 1.27.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $1.07 billion. Copart had a net margin of 32.17% and a return on equity of 19.55%. The company’s revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.34 earnings per share. Analysts forecast that Copart, Inc. will post 1.54 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Robert W. Baird reduced their target price on Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a report 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.