Copart, Inc. (NASDAQ:CPRT) Holdings Boosted by KBC Group NV

KBC Group NV grew its holdings in Copart, Inc. (NASDAQ:CPRT) by 0.2% in the third quarter, Holdings Channel.com reports. The firm owned 150,952 shares of the business services provider’s stock after purchasing an additional 296 shares during the period. KBC Group NV’s holdings in Copart were worth $7,910,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Optimum Investment Advisors raised its position 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 during the period. Eastern Bank acquired a new position in shares of Copart in the 3rd quarter valued at about $29,000. Crewe Advisors LLC lifted its position in shares of Copart by 98.6% in the second 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. boosted its holdings in shares of Copart by 283.3% during the second 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 during the period. Finally, Versant Capital Management Inc grew its position in Copart by 477.7% during the second 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 in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Price Performance

Shares of Copart stock opened at $56.67 on Friday. The firm has a market cap of $54.59 billion, a price-to-earnings ratio of 40.77 and a beta of 1.27. The stock has a 50-day simple moving average of $52.99 and a 200-day simple moving average of $53.10. Copart, Inc. has a 52-week low of $46.21 and a 52-week high of $58.58.

Copart (NASDAQ:CPRT) last posted 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). The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. Copart had a net margin of 32.17% and a return on equity of 19.55%. Copart’s revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.34 earnings per share. As a group, equities research analysts predict that Copart, Inc. will post 1.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.