DnB Asset Management AS Boosts Holdings in Copart, Inc. (NASDAQ:CPRT)

DnB Asset Management AS lifted its stake in Copart, Inc. (NASDAQ:CPRTGet Rating) by 0.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,605 shares of the business services provider’s stock after purchasing an additional 322 shares during the quarter. DnB Asset Management AS’s holdings in Copart were worth $4,847,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of CPRT. Norges Bank purchased a new position in Copart in the 4th quarter worth about $279,931,000. Principal Financial Group Inc. raised its position in Copart by 19.5% in the 1st quarter. Principal Financial Group Inc. now owns 9,516,210 shares of the business services provider’s stock worth $1,194,000,000 after buying an additional 1,552,884 shares during the last quarter. Boston Partners purchased a new position in Copart in the 1st quarter worth about $137,142,000. Flossbach Von Storch AG raised its position in Copart by 759.1% in the 1st quarter. Flossbach Von Storch AG now owns 781,744 shares of the business services provider’s stock worth $98,085,000 after buying an additional 690,744 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in Copart by 9.6% in the 4th quarter. Alliancebernstein L.P. now owns 7,591,312 shares of the business services provider’s stock worth $1,150,995,000 after buying an additional 667,084 shares during the last quarter. Hedge funds and other institutional investors own 80.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CPRT. Stephens decreased their target price on Copart to $141.00 in a research report on Tuesday, September 13th. Robert W. Baird cut their price target on Copart from $150.00 to $135.00 in a research note on Friday, September 9th.

Copart Stock Up 0.9 %

Copart stock opened at $111.09 on Tuesday. The business has a 50-day simple moving average of $121.76 and a two-hundred day simple moving average of $117.81. The company has a market cap of $26.40 billion, a P/E ratio of 24.52 and a beta of 1.16. Copart, Inc. has a 52-week low of $102.21 and a 52-week high of $161.12.

Copart (NASDAQ:CPRTGet Rating) last announced its quarterly earnings data on Wednesday, September 7th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.03. The company had revenue of $883.39 million during the quarter, compared to the consensus estimate of $874.14 million. Copart had a return on equity of 25.53% and a net margin of 31.14%. The firm’s revenue was up 18.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.03 EPS. Research analysts anticipate that Copart, Inc. will post 4.71 EPS for the current fiscal year.

About Copart

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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.

Further Reading

Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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