Cerity Partners LLC Boosts Holdings in Copart, Inc. (NASDAQ:CPRT)

Cerity Partners LLC lifted its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 22.9% in the third quarter, Holdings Channel reports. The firm owned 287,837 shares of the business services provider’s stock after buying an additional 53,625 shares during the period. Cerity Partners LLC’s holdings in Copart were worth $15,083,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Optimum Investment Advisors increased its stake in Copart by 141.5% during the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock worth $27,000 after buying an additional 300 shares in the last quarter. Eastern Bank purchased a new position in shares of Copart in the third quarter valued at approximately $29,000. Crewe Advisors LLC boosted its stake in shares of Copart by 98.6% in the second 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. increased 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 worth $31,000 after purchasing an additional 425 shares in the last quarter. Finally, Versant Capital Management Inc raised its stake in Copart by 477.7% in 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 during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Stock Performance

NASDAQ:CPRT opened at $63.75 on Tuesday. The stock has a 50 day moving average price of $54.07 and a 200 day moving average price of $53.24. The stock has a market cap of $61.42 billion, a PE ratio of 44.89 and a beta of 1.27. Copart, Inc. has a one year low of $46.21 and a one year high of $64.19.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Wednesday, September 4th. The business services provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Copart had a return on equity of 18.96% and a net margin of 31.92%. The firm’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.34 EPS. As a group, analysts predict that Copart, Inc. will post 1.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CPRT has been the subject of a number of research reports. Robert W. Baird dropped their target price on shares of Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. JPMorgan Chase & Co. boosted their price target 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.

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.