Pittenger & Anderson Inc. Raises Stock Position in Copart, Inc. (NASDAQ:CPRT)

Pittenger & Anderson Inc. lifted its stake in Copart, Inc. (NASDAQ:CPRT) by 52.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 75,093 shares of the business services provider’s stock after buying an additional 25,826 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Copart were worth $3,935,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Optimum Investment Advisors lifted its holdings in Copart by 141.5% in the third quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock worth $27,000 after buying an additional 300 shares during the period. Eastern Bank bought a new position in shares of Copart in the 3rd quarter worth approximately $29,000. Crewe Advisors LLC lifted its stake in shares of Copart by 98.6% in the 2nd quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 280 shares during the period. Meeder Asset Management Inc. boosted its position in shares of Copart by 283.3% during the second quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 425 shares in the last quarter. Finally, Versant Capital Management Inc grew its stake in Copart by 477.7% in the second quarter. Versant Capital Management Inc now owns 595 shares of the business services provider’s stock worth $32,000 after purchasing an additional 492 shares during the period. Institutional investors own 85.78% of the company’s stock.

Copart Stock Up 0.5 %

Shares of CPRT stock opened at $52.71 on Tuesday. The firm has a market capitalization of $50.78 billion, a PE ratio of 37.73 and a beta of 1.27. The company has a 50 day moving average price of $52.26 and a 200-day moving average price of $52.99. Copart, Inc. has a 52 week low of $45.50 and a 52 week high of $58.58.

Copart (NASDAQ:CPRT) last posted its earnings results 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 during 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 company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period last year, the firm posted $0.34 EPS. Analysts anticipate that Copart, Inc. will post 1.54 earnings per share for the current year.

Analyst Ratings Changes

Separately, Robert W. Baird lowered 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 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.