Copart, Inc. (NASDAQ:CPRT) Shares Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets increased its stake in Copart, Inc. (NASDAQ:CPRT) by 58.3% in the third quarter, HoldingsChannel.com reports. The firm owned 2,292,500 shares of the business services provider’s stock after acquiring an additional 844,014 shares during the quarter. BNP Paribas Financial Markets’ holdings in Copart were worth $120,127,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. increased its holdings in Copart by 2.5% in the third quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider’s stock valued at $2,037,130,000 after buying an additional 941,858 shares in the last quarter. Edgewood Management LLC increased 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 valued at $1,077,119,000 after purchasing an additional 125,220 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Copart by 8.1% during the second 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 purchasing an additional 1,199,781 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Copart by 0.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,898,956 shares of the business services provider’s stock worth $427,807,000 after purchasing an additional 30,454 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in 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 purchasing an additional 598,566 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Price Performance

Shares of NASDAQ CPRT opened at $63.80 on Wednesday. The company has a 50-day simple moving average of $54.07 and a 200-day simple moving average of $53.24. The company has a market cap of $61.46 billion, a PE ratio of 44.93 and a beta of 1.27. Copart, Inc. has a 12 month low of $46.21 and a 12 month high of $64.19.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results 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). Copart had a net margin of 31.92% and a return on equity of 18.96%. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the firm posted $0.34 earnings per share. The company’s revenue was up 7.2% on a year-over-year basis. On average, analysts anticipate that Copart, Inc. will post 1.57 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CPRT. JPMorgan Chase & Co. boosted their price objective on shares of Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Robert W. Baird lowered their price target on shares of Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th.

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.