MAI Capital Management Has $3.71 Million Position in Copart, Inc. (NASDAQ:CPRT)

MAI Capital Management grew its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 53.4% in the third quarter, Holdings Channel reports. The institutional investor owned 70,803 shares of the business services provider’s stock after acquiring an additional 24,654 shares during the period. MAI Capital Management’s holdings in Copart were worth $3,710,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Jensen Investment Management Inc. increased its holdings in Copart by 2,466.0% during the 3rd quarter. Jensen Investment Management Inc. now owns 3,536,233 shares of the business services provider’s stock worth $185,299,000 after purchasing an additional 3,398,423 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings 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 in the last quarter. Manning & Napier Advisors LLC purchased a new stake in Copart in the 2nd quarter valued at $109,382,000. Price T Rowe Associates Inc. MD lifted its stake in Copart by 28.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,861,282 shares of the business services provider’s stock valued at $397,406,000 after acquiring an additional 1,500,466 shares in the last quarter. Finally, Comgest Global Investors S.A.S. boosted its holdings in Copart by 706.6% during the 3rd quarter. Comgest Global Investors S.A.S. now owns 1,586,886 shares of the business services provider’s stock worth $83,153,000 after acquiring an additional 1,390,146 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CPRT shares. Robert W. Baird lowered their target price on shares of Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. JPMorgan Chase & Co. increased their price objective on shares of Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday.

Copart Price Performance

Shares of NASDAQ:CPRT opened at $56.52 on Wednesday. The company has a market capitalization of $54.45 billion, a PE ratio of 40.66 and a beta of 1.27. Copart, Inc. has a 1 year low of $46.21 and a 1 year high of $58.58. The business has a fifty day moving average price of $53.27 and a two-hundred day moving average price of $53.12.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data 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 return on equity of 19.55% and a net margin of 32.17%. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter last year, the business posted $0.34 EPS. The business’s quarterly revenue was up 7.2% on a year-over-year basis. Sell-side analysts anticipate that Copart, Inc. will post 1.54 earnings per share for the current year.

Copart Company 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.