Lecap Asset Management Ltd. Purchases Shares of 66,975 Copart, Inc. (NASDAQ:CPRT)

Lecap Asset Management Ltd. acquired a new position in shares of Copart, Inc. (NASDAQ:CPRT) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 66,975 shares of the business services provider’s stock, valued at approximately $3,509,000. Copart comprises about 0.8% of Lecap Asset Management Ltd.’s holdings, making the stock its 20th biggest holding.

Other hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp increased its holdings 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 valued at $867,017,000 after purchasing an additional 1,199,781 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Copart by 0.4% in the second 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 holdings in shares of 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. Price T Rowe Associates Inc. MD lifted its position in Copart by 28.0% during the 1st 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 buying an additional 1,500,466 shares in the last quarter. Finally, William Blair Investment Management LLC grew its holdings in Copart by 9.9% during the 1st quarter. William Blair Investment Management LLC now owns 5,498,210 shares of the business services provider’s stock worth $318,456,000 after acquiring an additional 496,643 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Analysts Set New Price Targets

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

Copart Stock Down 0.9 %

CPRT stock opened at $52.07 on Wednesday. Copart, Inc. has a twelve month low of $42.41 and a twelve month high of $58.58. The company has a market cap of $50.11 billion, a P/E ratio of 36.67 and a beta of 1.27. The business has a fifty day moving average of $52.28 and a 200-day moving average of $53.20.

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 the consensus estimate of $0.36 by ($0.03). The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.07 billion. Copart had a return on equity of 19.55% and a net margin of 32.17%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.34 earnings per share. As a group, equities research analysts anticipate that Copart, Inc. will post 1.54 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.