DRW Securities LLC Acquires New Position in Copart, Inc. (NASDAQ:CPRT)

DRW Securities LLC bought a new position in Copart, Inc. (NASDAQ:CPRT) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 8,543 shares of the business services provider’s stock, valued at approximately $448,000.

Several other institutional investors also recently bought and sold shares of CPRT. Principal Financial Group Inc. boosted its holdings in shares of Copart by 2.5% during the third quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider’s stock worth $2,037,130,000 after purchasing an additional 941,858 shares during the last quarter. Edgewood Management LLC boosted its stake in Copart by 0.6% in the 3rd quarter. Edgewood Management LLC now owns 20,555,713 shares of the business services provider’s stock worth $1,077,119,000 after buying an additional 125,220 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Copart by 8.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 16,008,444 shares of the business services provider’s stock worth $867,017,000 after buying an additional 1,199,781 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Copart by 0.4% during the 2nd 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 acquiring an additional 30,454 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Copart by 9.4% during the 2nd quarter. Legal & General Group Plc now owns 6,943,042 shares of the business services provider’s stock worth $376,035,000 after acquiring an additional 598,566 shares during the period. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Stock Performance

Shares of NASDAQ:CPRT opened at $63.80 on Wednesday. Copart, Inc. has a 1 year low of $46.21 and a 1 year high of $64.19. The stock has a 50-day simple moving average of $54.07 and a 200-day simple moving average of $53.24. The stock has a market capitalization of $61.46 billion, a P/E ratio of 44.93 and a beta of 1.27.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Wednesday, September 4th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate 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 return on equity of 18.96% and a net margin of 31.92%. Copart’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.34 EPS. Analysts predict that Copart, Inc. will post 1.55 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CPRT. JPMorgan Chase & Co. boosted their target price on shares of Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Robert W. Baird dropped their price objective on Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a 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.