Copart, Inc. (NASDAQ:CPRT) Shares Purchased by Edgewood Management LLC

Edgewood Management LLC grew its position in Copart, Inc. (NASDAQ:CPRT) by 0.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,555,713 shares of the business services provider’s stock after purchasing an additional 125,220 shares during the period. Copart makes up approximately 2.9% of Edgewood Management LLC’s holdings, making the stock its 20th largest holding. Edgewood Management LLC owned approximately 2.13% of Copart worth $1,077,119,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CPRT. CreativeOne Wealth LLC acquired a new stake in Copart in the first quarter valued at approximately $344,000. EP Wealth Advisors LLC raised its holdings in Copart by 18.4% in the first quarter. EP Wealth Advisors LLC now owns 10,402 shares of the business services provider’s stock valued at $602,000 after acquiring an additional 1,614 shares in the last quarter. Advisors Asset Management Inc. increased its position in shares of Copart by 108.1% in the 1st quarter. Advisors Asset Management Inc. now owns 9,299 shares of the business services provider’s stock worth $539,000 after purchasing an additional 4,831 shares during the last quarter. Sheaff Brock Investment Advisors LLC raised its stake in shares of Copart by 10.5% in the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 5,322 shares of the business services provider’s stock valued at $308,000 after purchasing an additional 507 shares in the last quarter. Finally, Toronto Dominion Bank grew its position in shares of Copart by 2.1% in the 1st quarter. Toronto Dominion Bank now owns 515,872 shares of the business services provider’s stock worth $29,879,000 after acquiring an additional 10,814 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Stock Up 2.8 %

Shares of NASDAQ CPRT opened at $56.97 on Friday. The firm’s 50-day simple moving average is $53.54 and its 200 day simple moving average is $53.16. The stock has a market cap of $54.88 billion, a P/E ratio of 40.98 and a beta of 1.27. Copart, Inc. has a fifty-two week low of $46.21 and a fifty-two week high of $58.58.

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 analysts’ consensus estimates of $0.36 by ($0.03). The company had revenue of $1.07 billion for 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 in the prior year, the business earned $0.34 EPS. On average, sell-side analysts anticipate that Copart, Inc. will post 1.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on CPRT shares. JPMorgan Chase & Co. increased their target price on shares of Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday. Robert W. Baird reduced their price objective on Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research 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.