ICICI Prudential Asset Management Co Ltd Purchases 1,991 Shares of Copart, Inc. (NASDAQ:CPRT)

ICICI Prudential Asset Management Co Ltd raised its position in shares of Copart, Inc. (NASDAQ:CPRT) by 18.8% in the third quarter, Holdings Channel reports. The firm owned 12,562 shares of the business services provider’s stock after acquiring an additional 1,991 shares during the quarter. ICICI Prudential Asset Management Co Ltd’s holdings in Copart were worth $658,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Optimum Investment Advisors raised its stake in shares of 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 purchasing an additional 300 shares during the last quarter. Eastern Bank purchased a new position in Copart in the 3rd quarter worth about $29,000. Crewe Advisors LLC lifted its stake in Copart by 98.6% during the 2nd quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 280 shares during the period. Meeder Asset Management Inc. boosted 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 valued at $31,000 after acquiring an additional 425 shares during the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of 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 acquiring an additional 492 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Price Performance

Copart stock traded up $0.52 during mid-day trading on Wednesday, reaching $57.70. 467,071 shares of the stock traded hands, compared to its average volume of 4,391,738. Copart, Inc. has a 12-month low of $46.21 and a 12-month high of $58.58. The business’s 50-day moving average is $52.59 and its 200-day moving average is $53.04. The stock has a market capitalization of $55.59 billion, a PE ratio of 41.37 and a beta of 1.27.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share (EPS) 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 firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the firm earned $0.34 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities analysts anticipate that Copart, Inc. will post 1.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Robert W. Baird lowered their price objective 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.