Quantbot Technologies LP Purchases New Shares in Copart, Inc. (NASDAQ:CPRT)

Quantbot Technologies LP purchased a new stake in Copart, Inc. (NASDAQ:CPRT) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 77,621 shares of the business services provider’s stock, valued at approximately $4,067,000.

Other large investors have also added to or reduced their stakes in the company. Optimum Investment Advisors boosted its holdings in Copart by 141.5% in the third quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 300 shares in the last quarter. Eastern Bank bought a new stake in Copart in the third quarter valued at $29,000. Crewe Advisors LLC boosted its holdings in Copart by 98.6% in the second quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 280 shares in the last quarter. Meeder Asset Management Inc. boosted its holdings in shares of Copart by 283.3% during the 2nd quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock valued at $31,000 after buying an additional 425 shares in the last quarter. Finally, Versant Capital Management Inc boosted its holdings in shares of Copart by 477.7% during the 2nd quarter. Versant Capital Management Inc now owns 595 shares of the business services provider’s stock valued at $32,000 after buying an additional 492 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Wall Street Analysts Forecast Growth

CPRT has been the topic of a number of research reports. Robert W. Baird dropped their target price 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 company a “neutral” rating in a report on Tuesday, November 19th.

Copart Price Performance

Shares of Copart stock opened at $63.80 on Wednesday. The stock has a market cap of $61.46 billion, a price-to-earnings ratio of 44.93 and a beta of 1.27. The firm’s 50-day moving average is $54.07 and its 200 day moving average is $53.24. Copart, Inc. has a 1 year low of $46.21 and a 1 year high of $64.19.

Copart (NASDAQ:CPRT) last announced its quarterly 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 during the quarter, compared to the consensus estimate of $1.07 billion. Copart had a return on equity of 18.96% and a net margin of 31.92%. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.34 EPS. On average, equities analysts expect that Copart, Inc. will post 1.55 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.