Victory Capital Management Inc. Has $41.64 Million Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Victory Capital Management Inc. trimmed its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 9.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 794,690 shares of the business services provider’s stock after selling 82,952 shares during the period. Victory Capital Management Inc.’s holdings in Copart were worth $41,642,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CPRT. Jensen Investment Management Inc. increased its position in Copart by 2,466.0% during the third quarter. Jensen Investment Management Inc. now owns 3,536,233 shares of the business services provider’s stock worth $185,299,000 after buying an additional 3,398,423 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Copart by 462.8% during the third quarter. Assenagon Asset Management S.A. now owns 3,668,696 shares of the business services provider’s stock worth $192,240,000 after buying an additional 3,016,795 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in Copart during the second quarter worth $109,382,000. Price T Rowe Associates Inc. MD increased its position in Copart by 28.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,861,282 shares of the business services provider’s stock worth $397,406,000 after buying an additional 1,500,466 shares during the last quarter. Finally, Kimelman & Baird LLC acquired a new position in Copart during the second quarter worth $70,307,000. 85.78% of the stock is owned by institutional investors and hedge funds.

Copart Stock Performance

Shares of NASDAQ:CPRT opened at $56.67 on Friday. The company has a market cap of $54.59 billion, a P/E ratio of 40.77 and a beta of 1.27. The stock’s 50-day moving average is $52.99 and its 200-day moving average is $53.11. Copart, Inc. has a 52-week low of $46.21 and a 52-week high of $58.58.

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

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird lowered their price target on 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.