AIA Group Ltd Buys 16,548 Shares of Copart, Inc. (NASDAQ:CPRT)

AIA Group Ltd increased its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 18.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 106,643 shares of the business services provider’s stock after purchasing an additional 16,548 shares during the quarter. AIA Group Ltd’s holdings in Copart were worth $5,588,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its holdings in Copart by 2.5% in the third quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider’s stock worth $2,037,130,000 after purchasing an additional 941,858 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Copart by 8.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 16,008,444 shares of the business services provider’s stock worth $867,017,000 after buying an additional 1,199,781 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Copart by 0.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,898,956 shares of the business services provider’s stock valued at $427,807,000 after buying an additional 30,454 shares in the last quarter. Legal & General Group Plc raised its stake in Copart by 9.4% in the second quarter. Legal & General Group Plc now owns 6,943,042 shares of the business services provider’s stock valued at $376,035,000 after buying an additional 598,566 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Copart by 28.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,861,282 shares of the business services provider’s stock worth $397,406,000 after acquiring an additional 1,500,466 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Copart Price Performance

NASDAQ CPRT opened at $55.77 on Friday. The company has a market cap of $53.73 billion, a price-to-earnings ratio of 40.12 and a beta of 1.27. The stock’s fifty day moving average price is $52.38 and its 200 day moving average price is $53.02. Copart, Inc. has a 1 year low of $46.20 and a 1 year high of $58.58.

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

Analyst Ratings Changes

Separately, Robert W. Baird cut their price objective 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 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.