Charles Schwab Investment Management Inc. Has $276.01 Million Position in Copart, Inc. (NASDAQ:CPRT)

Charles Schwab Investment Management Inc. grew its position in Copart, Inc. (NASDAQ:CPRT) by 1.5% during the 3rd quarter, Holdings Channel reports. The firm owned 5,267,339 shares of the business services provider’s stock after purchasing an additional 76,908 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Copart were worth $276,009,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on CPRT. JPMorgan Chase & Co. increased their target price on Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday. Robert W. Baird decreased their price objective on shares of Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th.

Copart Stock Performance

NASDAQ CPRT opened at $62.70 on Friday. The stock has a market capitalization of $60.40 billion, a P/E ratio of 44.15 and a beta of 1.27. Copart, Inc. has a 52 week low of $46.21 and a 52 week high of $62.90. The stock has a fifty day moving average of $53.79 and a 200-day moving average of $53.21.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data 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 firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. Copart had a return on equity of 19.55% and a net margin of 32.17%. Copart’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.34 earnings per share. Equities research analysts forecast 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.