DRW Securities LLC Purchases Shares of 8,543 Copart, Inc. (NASDAQ:CPRT)

DRW Securities LLC acquired a new stake in Copart, Inc. (NASDAQ:CPRT) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 8,543 shares of the business services provider’s stock, valued at approximately $448,000.

A number of other hedge funds have also made changes to their positions in the business. Principal Financial Group Inc. lifted its position in Copart by 2.5% in the third quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider’s stock valued at $2,037,130,000 after acquiring an additional 941,858 shares during the last quarter. Edgewood Management LLC lifted its stake in shares of Copart by 0.6% in the 3rd quarter. Edgewood Management LLC now owns 20,555,713 shares of the business services provider’s stock worth $1,077,119,000 after acquiring an additional 125,220 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Copart by 8.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 16,008,444 shares of the business services provider’s stock valued at $867,017,000 after buying an additional 1,199,781 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Copart by 0.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,898,956 shares of the business services provider’s stock worth $427,807,000 after purchasing an additional 30,454 shares during the period. Finally, Legal & General Group Plc boosted its holdings in Copart by 9.4% during the second quarter. Legal & General Group Plc now owns 6,943,042 shares of the business services provider’s stock worth $376,035,000 after buying an additional 598,566 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Analyst Upgrades and Downgrades

CPRT has been the subject of a number of research reports. Robert W. Baird reduced their price target on shares of Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. JPMorgan Chase & Co. lifted their price objective on Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th.

Copart Trading Up 0.1 %

Shares of CPRT opened at $63.80 on Wednesday. Copart, Inc. has a 12-month low of $46.21 and a 12-month high of $64.19. The stock has a market cap of $61.46 billion, a P/E ratio of 44.93 and a beta of 1.27. The company has a 50-day moving average of $54.07 and a two-hundred day moving average of $53.24.

Copart (NASDAQ:CPRT) last posted 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 company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Copart had a net margin of 31.92% and a return on equity of 18.96%. Copart’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.34 EPS. As a group, analysts forecast that Copart, Inc. will post 1.55 EPS for the current fiscal year.

Copart Profile

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.