DnB Asset Management AS Acquires 322 Shares of Copart, Inc. (NASDAQ:CPRT)

DnB Asset Management AS boosted its holdings in Copart, Inc. (NASDAQ:CPRTGet Rating) by 0.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 44,605 shares of the business services provider’s stock after purchasing an additional 322 shares during the quarter. DnB Asset Management AS’s holdings in Copart were worth $4,847,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CPRT. Norges Bank purchased a new stake in shares of Copart during the 4th quarter worth approximately $279,931,000. Principal Financial Group Inc. raised its holdings in shares of Copart by 19.5% during the 1st quarter. Principal Financial Group Inc. now owns 9,516,210 shares of the business services provider’s stock worth $1,194,000,000 after acquiring an additional 1,552,884 shares in the last quarter. Boston Partners purchased a new stake in shares of Copart during the 1st quarter worth approximately $137,142,000. Flossbach Von Storch AG raised its holdings in shares of Copart by 759.1% during the 1st quarter. Flossbach Von Storch AG now owns 781,744 shares of the business services provider’s stock worth $98,085,000 after acquiring an additional 690,744 shares in the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of Copart by 9.6% during the 4th quarter. Alliancebernstein L.P. now owns 7,591,312 shares of the business services provider’s stock worth $1,150,995,000 after acquiring an additional 667,084 shares in the last quarter. 80.92% of the stock is currently owned by institutional investors.

Copart Stock Performance

NASDAQ:CPRT opened at $111.09 on Tuesday. The stock’s fifty day moving average is $121.76 and its 200 day moving average is $117.81. Copart, Inc. has a fifty-two week low of $102.21 and a fifty-two week high of $161.12. The firm has a market capitalization of $26.40 billion, a PE ratio of 24.52 and a beta of 1.16.

Copart (NASDAQ:CPRTGet Rating) last released its quarterly earnings results on Wednesday, September 7th. The business services provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.03. Copart had a return on equity of 25.53% and a net margin of 31.14%. The company had revenue of $883.39 million for the quarter, compared to analyst estimates of $874.14 million. During the same quarter in the prior year, the firm posted $1.03 EPS. Copart’s quarterly revenue was up 18.0% compared to the same quarter last year. Equities analysts forecast that Copart, Inc. will post 4.71 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on CPRT shares. Robert W. Baird decreased their price objective on Copart from $150.00 to $135.00 in a report on Friday, September 9th. Stephens decreased their price target on Copart to $141.00 in a report on Tuesday, September 13th.

Copart Profile

(Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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