Eventide Asset Management LLC Increases Stock Position in Copart, Inc. (NASDAQ:CPRT)

Eventide Asset Management LLC increased its position in Copart, Inc. (NASDAQ:CPRT) by 0.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 714,080 shares of the business services provider’s stock after purchasing an additional 526 shares during the quarter. Eventide Asset Management LLC owned 0.07% of Copart worth $37,418,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in CPRT. Jensen Investment Management Inc. boosted its stake in shares of Copart by 2,466.0% in the third quarter. Jensen Investment Management Inc. now owns 3,536,233 shares of the business services provider’s stock valued at $185,299,000 after purchasing an additional 3,398,423 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Copart by 462.8% in the third quarter. Assenagon Asset Management S.A. now owns 3,668,696 shares of the business services provider’s stock valued at $192,240,000 after purchasing an additional 3,016,795 shares during the period. Manning & Napier Advisors LLC purchased a new position in shares of Copart in the second quarter valued at $109,382,000. Comgest Global Investors S.A.S. boosted its stake in shares of Copart by 706.6% in the third quarter. Comgest Global Investors S.A.S. now owns 1,586,886 shares of the business services provider’s stock valued at $83,153,000 after purchasing an additional 1,390,146 shares during the period. Finally, Kimelman & Baird LLC purchased a new position in shares of Copart in the second quarter valued at $70,307,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Robert W. Baird cut their price target on shares of Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. JPMorgan Chase & Co. boosted their target price 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.

Copart Stock Performance

CPRT stock opened at $63.51 on Friday. The stock has a market capitalization of $61.19 billion, a price-to-earnings ratio of 44.73 and a beta of 1.27. Copart, Inc. has a 1 year low of $46.21 and a 1 year high of $64.38. The stock’s fifty day moving average is $54.58 and its two-hundred day moving average is $53.37.

Copart (NASDAQ:CPRT) last released its 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). The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. Copart had a return on equity of 18.96% and a net margin of 31.92%. Copart’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.34 earnings per share. As a group, analysts predict that Copart, Inc. will post 1.57 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.