Copart, Inc. (NASDAQ:CPRT) Holdings Increased by Empirical Asset Management LLC

Empirical Asset Management LLC increased its holdings in Copart, Inc. (NASDAQ:CPRT) by 83.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,714 shares of the business services provider’s stock after purchasing an additional 9,432 shares during the quarter. Empirical Asset Management LLC’s holdings in Copart were worth $1,085,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CPRT. Rise Advisors LLC purchased a new stake in shares of Copart in the 1st quarter valued at approximately $28,000. Pinnacle Bancorp Inc. boosted its holdings in Copart by 79.6% in the 1st quarter. Pinnacle Bancorp Inc. now owns 528 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 234 shares during the period. Crewe Advisors LLC boosted its holdings in 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. lifted its holdings in shares of 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 period. Finally, Versant Capital Management Inc lifted its holdings in shares of Copart by 477.7% during the 2nd quarter. Versant Capital Management Inc now owns 595 shares of the business services provider’s stock worth $32,000 after acquiring an additional 492 shares during the period. 85.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Copart Stock Down 1.0 %

Copart stock traded down $0.56 during midday trading on Monday, hitting $55.36. 264,598 shares of the stock were exchanged, compared to its average volume of 4,476,745. The company has a fifty day simple moving average of $51.79 and a two-hundred day simple moving average of $53.37. Copart, Inc. has a 52 week low of $42.41 and a 52 week high of $58.58. The stock has a market capitalization of $53.27 billion, a PE ratio of 39.38 and a beta of 1.27.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). Copart had a net margin of 32.17% and a return on equity of 19.55%. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the firm posted $0.34 EPS. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Copart, Inc. will post 1.54 EPS for the current fiscal year.

About Copart

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.