Financial Counselors Inc. Increases Position in Copart, Inc. (NASDAQ:CPRT)

Financial Counselors Inc. boosted its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 4.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 146,570 shares of the business services provider’s stock after purchasing an additional 5,769 shares during the quarter. Financial Counselors Inc.’s holdings in Copart were worth $7,680,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Copart by 13.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 188,277 shares of the business services provider’s stock valued at $9,866,000 after acquiring an additional 22,592 shares during the period. FORA Capital LLC acquired a new position in shares of Copart during the 3rd quarter worth about $1,352,000. CreativeOne Wealth LLC raised its holdings in shares of Copart by 106.4% during the third quarter. CreativeOne Wealth LLC now owns 9,605 shares of the business services provider’s stock valued at $503,000 after acquiring an additional 4,951 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Copart by 1,103.1% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,062,931 shares of the business services provider’s stock worth $55,698,000 after purchasing an additional 974,585 shares in the last quarter. Finally, Blueshift Asset Management LLC purchased a new stake in shares of Copart during the third quarter worth $697,000. 85.78% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CPRT shares. JPMorgan Chase & Co. raised their target price on Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Robert W. Baird reduced their target price on shares of Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th.

Copart Price Performance

Shares of CPRT opened at $63.51 on Friday. The firm has a 50-day simple moving average of $54.58 and a two-hundred day simple moving average of $53.37. The stock has a market cap of $61.18 billion, a PE ratio of 44.73 and a beta of 1.27. Copart, Inc. has a 1-year low of $46.21 and a 1-year high of $64.38.

Copart (NASDAQ:CPRT) last announced 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). Copart had a net margin of 31.92% and a return on equity of 18.96%. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the previous year, the firm earned $0.34 EPS. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, sell-side analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

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.